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22 June, 2006 - 16:31 By Staff Reporter

New owners of CAT unveil new chief executive

Following the announcement that AstraZeneca's offer for biotech heavyweight, Cambridge Antibody Technology has become unconditional, the new owners have installed a new chief executive.

Dr Hamish Cameron replaces former CEO, Peter Chambre, who joined the company in February 2002.

Dr Cameron, a physician by training, joins CAT following a number of senior R&D appointments in AstraZeneca, including head of the cardiovascular therapy area and head of medical research, in the 20 years he has been with the company.

CAT plc now become CAT Limited and part of the AstraZeneca group of companies.

Dr John Patterson, executive director of development at AstraZeneca and chairman of the new CAT board said: “We are delighted that the acquisition of CAT has been completed and are pleased to have appointed Hamish Cameron to the post of chief executive. The acquisition of CAT indicates our intention of growing a leading biopharmaceuticals capability in AstraZeneca, led from CAT in Cambridge, which combines the biologics discovery and early development of CAT with AstraZeneca's global discovery, development and marketing expertise.

“The biopharmaceuticals capability will be distinct from, but complementary to, AstraZeneca's small molecule franchise.”

Dr Cameron said that AstraZeneca's acquisition of CAT could spell further growth for the Cambridge bio-cluster. He said: “CAT is a distinctive and successful biopharmaceuticals company and, now supported by AstraZeneca, it will be able to utilise its expertise across all AstraZeneca's therapy areas as well as to develop its technology platform beyond its current capabilities.

“AstraZeneca's acquisition of CAT is a great endorsement of the achievements of CAT and its staff, and a significant boost to the Cambridge area and the UK biotechnology industry.”

AstraZeneca, which also bought up promising Cambridge biotech, KuDOS in January, acquired Cambridge Anitbody for £702m.

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