Highlights * Broad-ranging deal signed with Wyeth-Ayerst * BASF/GI to begin Phase I clinical trials with J695 (anti-IL12) * CAT partner, BASF Pharma, to report new data on D2E7 in June * CAT collaboration with BASF Pharma extended to third programme * Second Phase II clinical trial in glaucoma surgery expected to start this summer * Intellectual property position further strengthened with issue of US patent * Appointment of two new non-executive directors bringing extensive pharmaceutical industry experience to the Board * Loss for the six months ended 31 March 1999 of 6.5 million pounds Sterling * Cash & liquid resources at 31 March 1999: 27.4 million pounds LONDON, May 24 /PRNewswire/ -- Professor Peter Garland, chairman of Cambridge Antibody Technology, commented: "The first six months of the year have been both exciting and rewarding. CAT's first major deal for its functional genomics tools ProAb (R) and ProxiMol(R) with Wyeth-Ayerst brings in both cash and drug targets. It represents a powerful validation of our technologies and an endorsement of our commercial strategy." The highlight of the six months was the recently announced deal with Wyeth-Ayerst, a division of American Home Products. This is a significant milestone for CAT and is an important validation of the Group's technology. The alliance is CAT's first major functional genomics deal; it is both broad ranging and provides CAT with significant revenue potential. -=-=- 