Regulatory Filings • Jan 9, 2009
Regulatory Filings
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Corporate | 9 January 2009 07:00
WILEX AG: UCB and WILEX to enter into strategic alliance to develop UCB’s preclinical oncology portfolio
WILEX AG / Alliance/Miscellaneous
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
• WILEX to acquire UCB's preclinical oncology portfolio of five programmes
• Joint development strategy includes buyback options for UCB
• UCB to become a strategic investor in WILEX
Munich, Germany & Brussels, Belgium, January 9, 2009 at 7 am CET – press
release regulated information - UCB Pharma S.A. (UCB) and WILEX AG, a
company specialising in the development of drugs and diagnostic agents for
cancer (WILEX), today announced that they have agreed to enter into a
strategic partnership.
WILEX will acquire world-wide rights to develop UCB's entire preclinical
oncology portfolio, comprising two small-molecule programmes and three
antibody programmes.
UCB retains exclusive rights to re-purchase each of the five programmes,
following completion of initial clinical feasibility studies for each
programme, and assume the responsibility for further development and
commercialization of each product. In this case, WILEX will receive
development and commercialisation milestone payments and royalty payments
from UCB.
Alternatively, in the event UCB does not exercise its re-purchase right for
each programme, WILEX will retain rights to develop as well as
commercialize each programme and UCB will receive milestone and royalty
payments from WILEX.
As a strategic investor, UCB will invest EUR 10 million in WILEX upon
closing and will also make milestone payments of EUR 10 million in total
upon application of clinical Phase I trial and first dose in man, expected
within approximately twelve months upon closing.
'WILEX is the ideal strategic partner for developing our promising
preclinical oncology portfolio,' said Dr Melanie Lee, Executive
Vice-President UCB and President UCB NewMedicines. 'This alliance will give
UCB the opportunity to focus our R&D priorities in our core indication
areas, central nervous system and immunology, as defined in UCB's SHAPE
programme, while benefiting from WILEX's comprehensive oncology expertise,
focus and know-how.'
Professor Olaf G. Wilhelm, Chairman of the Executive Management Board of
WILEX AG, commented, 'The strategic alliance with UCB is an important step
in WILEX’s history. UCB's innovative preclinical oncology portfolio ideally
supplements and expands our advanced clinical pipeline whilst providing
access to UCB’s broad antibody technology. We have gained in UCB, not only
an important development partner, but also a strong strategic investor
which will help to further the development of our company.'
Under the agreement, UCB has granted the rights to the five preclinical
oncology programmes to a new legal entity wholly owned by UCB. The new
entity will be funded by UCB with EUR 10 million in cash and will be
acquired by WILEX in consideration for 1,818,181 newly issued shares in
WILEX from its authorised capital, subject to the exclusion of
shareholders' subscription rights. This transaction will provide UCB with
approximately 13% ownership of WILEX AG (WILEX total new share capital:
13,780,935 shares) at closing of the transaction.
The strategic alliance has been approved by both the UCB and WILEX boards.
The relevant capital increase of WILEX AG is, however, subject to the
approval of WILEX boards and will take effect at the time it is recorded in
the Company’s Commercial Register.
The parties agreed not to disclose further details of the transaction.
Invitation to a conference call:
WILEX offers members of the press participation in a telephone conference
on January 9, 2009 at 10:30 CET. The conference language is German.
UCB and WILEX will hold a telephone conference at 15:00 CET for analysts
and investors in English. The presentations for the conferences are
available on the Companies websites from 9.00 CET on.
Dial-in number for the conference calls: Please dial in 10 minutes before
the conference.
10:30 CET: Germany: +49 (0) 69 22 22 32 62, PIN-Code: 400404
15:00 CET:
Germany: +49 (0) 69 22 22 32 62, PIN-Code: 500505
UK: +44 (0) 207 09 80 693, PIN-Code: 500505
Contact
UCB
Allée de la Recherche 60
1070 Brussels, Belgium
Antje Witte, Corporate Communications & IR
Tel.: +32.2.559.9414,
[email protected]
Michael Tuck Sherman, Investor Relations,
Tel.: +32.2.559.9712,
[email protected]
Contact
WILEX AG
Grillparzerstr. 10
81675 Munich, Germany
Katja Arnold, IR & PR
Phone: +49 89-41 31 38-126
[email protected]
[email protected]
About UCB
UCB, Brussels, Belgium (www.ucb-group.com) is a global biopharmaceutical
company dedicated to the research, development and commercialization of
innovative medicines with a focus on the fields of central nervous system
and immunology disorders. Employing more than 10 000 people in over 40
countries, UCB expects to achieve revenue of 3.3 billion Euro in 2008. UCB
is listed on Euronext Brussels (symbol: UCB).
About WILEX
WILEX is a biopharmaceutical company based in Munich, Germany.
(www.WILEX.com) WILEX was founded in 1997, has got 64 employees and is
listed at the Frankfurt Stock Exchange at the Regulated Market/ Prime
Standard (ISIN DE0006614720).
WILEX’s mission is to develop drugs and diagnostic agents with a low side
effect profile and targeted treatment of different types of cancer as well
as for early 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: The substances RENCAREX® and REDECTANE® are
currently undergoing a Phase III registration trial. The substance
MESUPRON® is currently in a Phase II programme.
Looking forward statements
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.
09.01.2009 Financial News transmitted by DGAP
Language: English
Issuer: 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 Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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