Heidelberg Pharma AG / Key word(s): Alliance
Heidelberg Pharma AG : Heidelberg Pharma and Magenta Therapeutics Sign Exclusive Multi-Target Research Agreement for the Development of Antibody Drug Conjugates
05-March-2018 / 15:06 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
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Ad hoc announcement
Inside information pursuant to Article 17 MAR
Heidelberg Pharma and Magenta Therapeutics Sign Exclusive Multi-Target Research Agreement for the Development of Antibody Drug Conjugates
Ladenburg, Germany, 5 March 2018 – Heidelberg Pharma AG (FSE:WL6), a biotechnology company developing new options to address major challenges in cancer therapy, and Magenta Therapeutics Inc., a biotechnology company developing therapeutics to improve and extend the use of curative bone marrow transplant for more patients, today announced the signing of an exclusive multi-target research agreement. Heidelberg Pharma Research GmbH signed this collaboration, which will combine Magenta’s stem cell platform with proprietary antibodies across up to four exclusive targets with Heidelberg Pharma’s proprietary ATAC (Antibody Targeted Amanitin Conjugates) platform.
Under the terms of the multi-target research agreement, Magenta will have access to Heidelberg Pharma’s Amanitin toxin-linker platform technology. Magenta has an option for an exclusive target-specific license for global development and commercialization rights to each of the product candidates resulting from the research collaboration.
Heidelberg Pharma will receive upfront technology access and exclusivity fees and payments for research support. Under the exclusive license agreement, Heidelberg Pharma would be eligible to receive option fees, clinical development, regulatory and sales-related milestone payments up to $334 million USD, if Magenta exercises all target options and all milestones are met.
Information and Explanation of the Issuer to this News:
About Bone Marrow Transplant
Healthy bone marrow stem cells and the blood cells they create are crucial for survival, but certain diseases can affect the bone marrow, interfering with its ability to function properly. A bone marrow transplant is a process to replace unhealthy bone marrow with healthy bone marrow stem cells. Bone marrow transplant can save the lives of patients with blood cancers and genetic diseases and is a potential cure for patients with severe refractory autoimmune diseases. However, the high risks, toxic side effects and complexity of the procedure currently prevent many patients from being able to benefit.
About Heidelberg Pharma
Heidelberg Pharma is an oncology specialist and the first company to develop the toxin Amanitin into cancer therapies using its proprietary Antibody Targeted Amanitin Conjugate (ATAC) technology and to advance the biological mode of action of the toxin as a novel therapeutic principle. This proprietary technology platform is being applied to develop the Company’s proprietary therapeutic ATACs as well as in third-party collaborations to create a variety of ATAC candidates. The proprietary lead candidate HDP-101 is a BCMA ATAC for multiple myeloma. ATAC technology is the core activity of the subsidiary Heidelberg Pharma Research GmbH.
Heidelberg Pharma AG has entered into partnerships to further develop and commercialize its clinical assets MESUPRON(R) and REDECTANE(R), while RENCAREX(R) is available for out-licensing and further development. The Company is listed on the Frankfurt Stock Exchange: ISIN DE000A11QVV0 / WKN A11QVV / Symbol WL6. More information is available at www.heidelberg-pharma.com.
About Magenta Therapeutics
Magenta Therapeutics is a biotechnology company developing therapeutics to revolutionize bone marrow transplant for patients with autoimmune diseases, blood cancers and genetic diseases. By creating a platform focused on critical areas of transplant medicine, Magenta Therapeutics is pioneering an integrated approach to extend the curative power of bone marrow transplant to more patients. Founded by internationally recognized leaders in bone marrow transplant medicine, Magenta Therapeutics was launched in 2016 by Third Rock Ventures and Atlas Venture and is headquartered in Cambridge, Massachusetts. For more information, please visit www.magentatx.com.
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 condition, performance, or achievements, or industry results, to be materially different from any future results, performance 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.
05-March-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Heidelberg Pharma AG|
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|Phone:||+49 (0)89 41 31 38 – 0|
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|End of Announcement||DGAP News Service|