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NEW YORK, May 21 - Cambridge Antibody Technology will partner with Immunex to jointly discover and develop new antibody-based drugs for treating inflammation, the companies said Monday. 

The agreement calls for Immunex to provide two undisclosed protein drug targets and for CAT to develop antibodies to those targets using its antibody phage display and screening technologies. Immunex is to bear responsibility for pre-clinical evaluation, clinical trials, and product commercialization. 

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