Heidelberg Pharma AG / Key word(s): Alliance
Heidelberg Pharma AG: Partner Magenta Therapeutics Exercises Option To Further Develop a Target Molecule as Antibody Targeted Amanitin Conjugate
11-Oct-2018 / 11:59 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.
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement – Inside information pursuant to Article 17 MAR
Partner Magenta Therapeutics Exercises Option To Further Develop a Target Molecule as Antibody Targeted Amanitin Conjugate
Ladenburg, Germany, 11 October 2018 – Heidelberg Pharma AG (FSE: WL6) today announced that its partner Magenta Therapeutics (NASDAQ: MGTA), Cambridge, MA, USA, exercises its option to further develop a target molecule, and will now continue the development of an Antibody Targeted Amanitin Conjugate based on the target molecule within an exclusive licensing.
In March 2018, both companies signed an exclusive multi-target research agreement under which Magenta gained access to Heidelberg Pharma’s Amanitin toxin-linker platform technology. Proprietary antibodies generated from Magenta’s stem cell platform for up to four exclusive targets were used to generate new ATACs (“Antibody Targeted Amanitin Conjugates”) using Heidelberg Pharma’s proprietary ATAC technology.
Today, 11 October, Magenta has sent us its declaration on the exercise of its option to exclusively license the worldwide development and commercialization rights to a target molecule and the resulting product candidates. Heidelberg Pharma receives an undisclosed milestone payment in return. Furthermore, Heidelberg Pharma would be eligible to receive clinical development, regulatory and sales-related milestone payments.
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Information and Explanation of the Issuer to this News:
About Heidelberg Pharma
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
About Bone Marrow Transplant
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.
11-Oct-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|
|Fax:||+49 (0)89 41 31 38 – 99|
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|End of Announcement||DGAP News Service|