London, 25 November, 2005 - Lawyers from the London, Palo Alto and San Francisco offices of Morrison & Foerster advised Cambridge Antibody Technology Group plc ("CAT") (LSE: CAT; NASDAQ: CATG) on the acquisition of oncology product candidates from Genencor International, Inc. of Palo Alto, California, a subsidiary of Danisco A/S of Denmark, and the simultaneous subscription by Genencor for CAT ordinary shares.

The acquisition provides CAT with an operation in the United States for the first time.  CAT has hired key former staff of Genencor, who will continue to be responsible for the development of these programmes, and has established a U.S. subsidiary, to be based in the Palo Alto area.

The Morrison & Foerster team was led by London-based U.S. corporate partner Kristian Wiggert and included partner Paul Claydon and associates Bradley Theobald, Marco Crosignani and Georgie Wiseman in London, partner Eric Tate in Palo Alto and partners Jonathan Dickstein and Mike Ward and associates Laura Spiegelman, Otis Littlefield and Shannon Ryan in San Francisco.

Kristian Wiggert said, "We were delighted to work with CAT again on this transaction.  Our market leading life sciences practice combined corporate, commercial and IP expertise in the UK and California to help CAT establish its first substantial business presence in the U.S.  We think these capabilities and our presence in European, U.S. and Asian markets make us an ideal choice of legal counsel for any life sciences company that wants to expand internationally."

The consideration for the acquisition is up to US$16 million, of which US$14 million was paid by CAT on the closing date, Friday 4 November 2005.  Simultaneously, Genencor subscribed US$14 million for 1,170,277 new CAT ordinary shares (representing 2.27 percent of CAT’s existing issued share capital).  CAT may be required to pay Genencor additional consideration of up to US$2 million, contingent on the availability for use in a clinical trial of bulk material of product candidate GCR-8015 produced by Genencor.

The 1,170,277 new CAT ordinary shares issued to Genencor were admitted to the Official List and to trading on the London Stock Exchange’s market for listed securities on Friday 4 November 2005.