M&A Activity • Nov 17, 2010
M&A Activity
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Corporate | 17 November 2010 22:30
WILEX AG acquires Oncogene Science assets from Siemens Healthcare Diagnostics
WILEX AG / Key word(s): Strategic Company Decision/Acquisition
PRESS RELEASE
WILEX acquires Oncogene Science assets from Siemens Healthcare Diagnostics
Munich, Germany, Cambridge, MA, USA; 17 November 2010: WILEX AG (ISIN
DE0006614720 / WL6 / Frankfurt Stock Exchange) today announced the signing
of an agreement with Siemens Healthcare Diagnostics to acquire the assets
of Oncogene Science, a commercial business entity of Siemens Healthcare
Diagnostics, for approximately Euro 500,000 in cash. WILEX Inc., a wholly
owned newly founded US subsidiary of WILEX AG, will license patent rights,
acquire inventory including a stock of marketable diagnostic kits and will
also take over the fully equipped, state-of-the-art laboratory facilities
in Cambridge, MA. WILEX will also pay low-mid single digit royalties on the
sales of diagnostic kits to Siemens Healthcare Diagnostics.
WILEX Inc. will employ a team of 10 current Oncogene staff, including
scientists, experienced management and a sales team. The newly established
unit will focus exclusively on the manufacturing, marketing and sales of
diagnostic assays developed at Oncogene Science to existing and new
customers in the pharmaceutical and reference laboratory industries. WILEX
Inc. provides a US footprint for WILEX AG and it will also be used as a
base from which to conduct regulatory affairs in North America.
Oncogene Science is a specialist in the development, manufacturing and
commercialization of a variety of oncology biomarker assays with a specific
focus on measuring proteins in blood. The licensed IP portfolio includes
the only FDA cleared Serum HER-2/neu ELISA kit, CA IX patents covering CA
IX ELISA and IHC products, as well as a uPA diagnostics patent family,
which is complementary to the WILEX uPA therapeutic IP portfolio.
Diagnostic kits based on this patent portfolio are manufactured at
Oncogene's ISO registered manufacturing facilities in Cambridge, MA.
Siemens will retain automated platform rights for the Oncogene products,
including Serum HER-2/neu and CA IX.
'Strategically this is a very important step for WILEX,' said Professor
Olaf G. Wilhelm, CEO of WILEX AG. 'The acquisition gives us commercial
products and revenues in companion diagnostics along with a license to
significant IP in the CA IX and uPA fields.'
Michael Reitermann, CEO of Siemens Healthcare Diagnostics Inc. added:
'WILEX represents an excellent partner for the Oncogene Science business.
WILEX's therapeutic candidates in the fields of uPA and CA IX illustrate
their expertise in these areas, and are complementary to Oncogene's
diagnostic kits and intellectual property.'
Invitation to the conference calls
WILEX will hold a conference call on Thursday, 18 November 2010 at 10:00
a.m. CET for media representatives and shareholders in German.
WILEX will also be available for analysts and investors in English at 4:00
p.m. CET.
Please dial in ten minutes before the conference calls using the following
dial-in numbers:
Dial in numbers
Germany +49 (0) 69 6677 75756
UK +44 (0) 2030032666
USA +1 212 999 6659
You will be welcomed by an operator taking your name and company. The
German presentation for the conferences will be available for download at
the website from 9:00 a.m. CET and the English version from 2:00 p.m. CET.
A replay of the conferences will be available on 19 November on
http://www.wilex.de/IR/Presentations.php.
About WILEX AG
WILEX AG is a biopharmaceutical company based in Munich and is listed at
the Frankfurt Stock Exchange at the Regulated Market/Prime Standard.
WILEX's mission is to develop drugs with a low side effect profile and
targeted treatment of different types of cancer as well as diagnostic
agents for specific detection of tumours. The Company's product candidates
are based on antibodies and small molecules. WILEX has an attractive
product pipeline which includes both drug and diagnostic candidates: For
REDECTANE(R) WILEX is currently preparing an application for approval in
the United States. RENCAREX(R) is undergoing a Phase III registration
trial. Positive MESUPRON(R) Phase II data in the indication pancreatic
cancer have been published and another Phase II trial in breast cancer is
ongoing. The MEK inhibitor WX-554 has completed a Phase I trial. A further
oncology project (PI3K inhibitor WX-037) is in preclinical development and
three antibody programmes are in research. WILEX aims within a few years to
be able to finance its research and development programmes from its
operating cash flow. Website: http://www.WILEX.com, ISIN DE0006614720 / WKN
661472 / Symbol WL6
About Siemens Healthcare
The Siemens Healthcare Sector is one of the world's largest suppliers to
the healthcare industry and a trendsetter in medical imaging, laboratory
diagnostics, medical information technology and hearing aids. Siemens
offers its customers products and solutions for the entire range of patient
care from a single source - from prevention and early detection to
diagnosis, and on to treatment and aftercare. By optimizing clinical
workflows for the most common diseases, Siemens also makes healthcare
faster, better and more cost-effective. Siemens Healthcare employs some
48,000 employees worldwide and operates around the world. In fiscal year
2010 (to September 30), the Sector posted revenue of 12.4 billion euros and
profit of around 750 million euros. For further information please visit:
www.siemens.com/healthcare.
About Oncogene Science
NCI/NIH scientists established Oncogene Science, Inc. in 1983 as a research
and development organization focused on cancer and oncogenes. In 1999,
Oncogene Science, Inc. became part of the diagnostics business group of
Bayer Corporation, the U.S. holdings of Bayer AG. Effective 1999, Oncogene
Science Diagnostics assumed the trade name Oncogene Science. In 2006,
Oncogene Science was acquired by Siemens Healthcare Diagnostics Inc., and
develops, manufactures, and markets high quality, ready-to-use cancer
reagent systems for commercial and clinical research customers worldwide.
It is the goal to provide novel FDA-cleared oncology assays for the
clinical immunodiagnostic market to enhance the care and treatment of
cancer patients worldwide as well as lead the way in developing new
biomarker assays to further advance oncology care.
Companion Diagnostics
Companion diagnostics can be defined as bioanalytical methods designed to
select patients for therapy, to assess how patients will respond to a
specific medical treatment and monitor patient's treatment and outcome.
Contact
WILEX AG
Corporate Communications
Katja Arnold (CIRO)
Grillparzerstr. 10
81675 Munich, Germany
Tel.: +49 (0)89-41 31 38-126
Fax: +49 (0)89-41 31 38-99
Email: [email protected]
Siemens Healthcare
Lance Longwell
Director, Public Relations
Siemens Medical Solutions USA, Inc.
51 Valley Stream Pkwy.
Malvern, PA 19355 USA
Tel: +1-610-448-1473
Fax: +1-610-448-4736
Email: [email protected]
This communication contains certain forward-looking statements relating to
the Company's business, which can be identified by the use of
forward-looking terminology such as 'estimates', 'believes', 'expects',
'may', 'will' 'should' 'future', 'potential' or similar expressions or by a
general discussion of the Company's strategy, plans or intentions. Such
forward-looking statements involve known and unknown risks, uncertainties
and other factors, which may cause our actual results of operations,
financial position, earnings, achievements, or industry results, to be
materially different from any future results, earnings or achievements
expressed or implied by such forward-looking statements. Given these
uncertainties, prospective investors and partners are cautioned not to
place undue reliance on such forward-looking statements. We disclaim any
obligation to update any such forward-looking statements to reflect future
events or developments.
17.11.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: WILEX AG
Grillparzerstr. 10
81675 München
Deutschland
Phone: +49 (0)89 41 31 38 - 0
Fax: +49 (0)89 41 31 38 - 99
E-mail: [email protected]
Internet: www.wilex.com
ISIN: DE0006614720
WKN: 661472
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in München, Berlin, Düsseldorf, Stuttgart
End of Announcement DGAP News-Service
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