NEW YORK, Jan 17 - Cambridge Antibody Technology on Thursday said it intends to acquire Canada's Drug Royalty Corp. for C$126 million, or roughly $78 million, worth of CAT stock.

The UK-based biotech company said it decided to snag Drug Royalty Corp. in order to help bolster its own therapeutic antibody portfolio it's building through collaborations with pharma and other biotech firms.

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The New York Times reports that a number of companies and research institutes are pursuing gene therapies.

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