AstraZeneca has made a bid to acquire Cambridge Antibody Technology (CAT) in a deal valued at $1.3 billion. CAT, Britain’s largest biotech company, develops drugs from antibodies, the body’s natural immune defence, which generally have fewer side-effects than conventional, chemistry-based medicines. AstraZeneca currently owns 19.2% of CAT from a research agreement in 2004. “This is part of transforming our long-term capabilities,” said John Patterson, AstraZeneca&#82...