Cancer Research Technology Ltd (CRT) announced the establishment of an American arm – Cancer Research Technology Inc – at the BIO2006 conference in Chicago today (Tuesday 11 April 2006). Dr Larry Steranka has been recruited to be the US subsidiary’s first managing director.

CRT is Europe’s leading specialist oncology development and commercialisation company, and is wholly owned by Cancer Research UK. CRT Inc will be based in Boston, Massachusetts. Dr Steranka will forge relationships with leading cancer researchers in American academic and not-for-profit institutions, as well as represent CRT in licensing discussions with US biopharmaceutical companies. Dr Steranka brings a wealth of experience in both the pharmaceutical industry and leading US universities.

CRT was set up to collaborate with Cancer Research UK-funded scientists, advancing their findings from exploratory research to industrial development, generating new cancer drugs and technologies. It is driven by patient benefit, focuses exclusively on cancer, and has a range of resources, including its specialised Development Laboratories in London, UK, designed to maximise the potential of academic-based cutting edge discoveries.

In recent years, CRT has expanded its activities to work with academic institutions and charities from around the world and the move into America follows numerous high-profile deals across Britain and Europe. With an annual revenue of about £25 million, CRT’s primary objective remains patient benefit, and all profits go straight back to Cancer Research UK.

Dr Steranka said: “CRT is at the forefront of cancer-specific technology transfer and can fill the fundamental gap between basic science and the more advanced stages in the development of new ways to diagnose and treat cancer. Although American universities already have licensing and technology transfer offices, they are not focused on cancer and do not have the same depth of development resources that CRT has available.

“Some of the world’s best cancer research institutes and scientists are in America. I’m delighted to have this opportunity to work with them and to show them how CRT can help turn their scientific findings into effective cancer medicines.”

Prior to joining CRT Inc as managing director, Dr Steranka was the executive director of Brandeis University’s Office of Technology Licensing, and immediately before that, he was an associate director for licensing at Harvard University’s Office of Technology and Trademark Licensing. Dr Steranka has also held senior positions within major pharmaceutical and biotechnology companies.

Dr Keith Blundy, chief operating officer of CRT and chairman of CRT Inc, said: “Through CRT Inc, Dr Steranka will reinforce our strategy of oncology-focused development of diagnostics and therapeutics in partnership with leading American academic institutions. Dr Steranka’s experience, both in industry and academic-based technology transfer, will benefit CRT’s operations on both sides of the Atlantic.”

ENDS

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About Cancer Research Technology

Cancer Research Technology Limited (“CRT”) is an oncology-focused development and commercialisation company that realises cancer patient benefit from publicly-funded research worldwide. CRT works closely with leading international cancer scientists, their institutes and funding bodies to protect, develop and commercialise oncology-related discoveries. CRT is wholly owned by Cancer Research UK, the largest independent funder of cancer research in the world. Further information about CRT can be found on the Cancer Technology website.

About Cancer Research UK

• Together with its partners and supporters, Cancer Research UK’s vision is to beat cancer.
• Cancer Research UK carries out world-class research to improve understanding of the disease and find out how to prevent, diagnose and treat different kinds of cancer.
• Cancer Research UK ensures that its findings are used to improve the lives of all cancer patients.
• Cancer Research UK helps people to understand cancer, the progress that is being made and the choices each person can make.
• Cancer Research UK works in partnership with others to achieve the greatest impact in the global fight against cancer.

For further information about Cancer Research UK’s work or to find out how to support the charity, please call 020 7009 8820 or visit the Cancer Research UK website.