STADA Arzneimittel AG — M&A Activity 2004

Feb 26, 2004

News Details

Ad-hoc | 26 February 2004 16:08

STADA expands oncologics business with a strategic partnership with LipoNova

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– STADA expands oncologics business with a strategic partnership with LipoNova STADA has today entered into a strategic partnership with LipoNova in the field of oncology. LipoNova GmbH, founded in 1998, is based in Hanover, Germany, and conducts development projects in the field of tumor vaccination. Today STADA has acquired approx. 16 percent of the shares in LipoNova GmbH at a price of approx. EUR 6.4 million from the previous shareholders. At the same time, STADA has acquired the exclusive European marketing rights in Reniale, a LipoNova product currently in the approval process. Once Reniale has been launched in the market, STADA will pay sales-related royalties for these rights. The tumor vaccination offered by LipoNova involves removing cancer patients own tumor cells and treating them using a special process developed by LipoNova. These cells are then injected back into the patient intradermally. This stimulates the bodys own defenses and, consequently, its ability to fight the cancer. In December 2003, LipoNova applied for Europe-wide approval for Reniale, the first product with this mode of action, from the EMEA, the European agency responsible for approving innovative drugs. This first autologous tumor vaccine is aimed at the adjuvant treatment of certain stages of renal cell carcinoma. This type of cancer affects no more than 70,000 people per year in the EU. LipoNova has therefore already obtained orphan drug status for Reniale, the status given to drugs that treat rare diseases. Approval for such drugs grants market exclusivity which, depending on country, is valid for between six and ten years. Under the cooperation agreements signed today, STADA will also acquire from the same sellers a further approx. 16 percent of the shares in LipoNova at a price of approx. EUR 8 million after the targeted EMEA approval for Reniale is granted. The strategic partnership with LipoNova will give STADA the opportunity for the first time to offer an innovative cancer therapy product in its own product portfolio without having to conduct any proprietary research into the active ingredient. Thus STADA can further expand its oncologics business in the core segment of specialty pharmaceuticals. For more information, please contact: STADA Arzneimittel AG, Corporate Communications, Stadastrasse 2-18, D-61118 Bad Vilbel, Germany Phone: +49(0)6101 603-113, Fax: +49(0)6101 603-506, E-mail: communications@stada.de, Internet: http://www.stada.com end of ad-hoc-announcement (c)DGAP 26.02.2004 ——————————————————————————– WKN: 725180; ISIN: DE0007251803; Index: MDAX Listed: Amtlicher Markt in Düsseldorf und Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hamburg, Hannover, München und Stuttgart 261608 Feb 04