Is this "our" ONCOLOGIE???
MOLOGEN signs license deal for China and global co-development agreement with ONCOLOGIE for lead compound lefitolimod - EQS
13-Feb-2018 16:11
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DGAP-Ad-hoc: MOLOGEN AG / Key word(s): Contract/Agreement
MOLOGEN signs license deal for China and global co-development agreement
with ONCOLOGIE for lead compound lefitolimod
13-Feb-2018 / 16:11 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Publication of an insider information pursuant to Section 17 of the
regulation (EU) No. 596/2014
MOLOGEN signs license deal for China and global co-development agreement
with ONCOLOGIE for lead compound lefitolimod
Berlin, 13 February 2018 - The Executive Board of biopharmaceutical
company MOLOGEN AG (ISIN DE0006637200, SIN 663720) today announced the
signing of a license deal for the Chinese territory and a global
co-development agreement between MOLOGEN and ONCOLOGIE Inc. for its lead
compound lefitolimod. The signed agreement is conditional upon an initial
payment of EUR 3 million received by MOLOGEN. ONCOLOGIE is an
oncology-focused drug development company with headquarters in Boston, US,
and operations in Shanghai. The company is backed by top-tier
international investors and has the objective to develop novel
personalized medicines in the field of immuno-oncology. The signed
agreement with ONCOLOGIE includes the development, manufacture and
commercialization of lefitolimod in China and a planned global
co-development program.
As previously announced, MOLOGEN had started negotiations on such a deal
with the Chinese iPharma. After a certain exclusivity period had expired,
MOLOGEN opened the licencing process also for additional parties.
Discussions and negotiations with ONCOLOGIE have now been successfully
completed and the deal could be signed. The terms of the signed agreement
with ONCOLOGIE define development, manufacture and commercialization of
lefitolimod in China and a planned global co-development program.
The contract comprises two parts: First, a license agreement including
sublicense rights under which MOLOGEN grants ONCOLOGIE an exclusive
license for the development, manufacturing and commercialization for
MOLOGEN's lead compound lefitolimod in the following territory: China,
Hong Kong and Macao, Taiwan and Singapore. Second, a commitment for global
co-development leveraging novel biomarker plans from ONCOLOGIE. MOLOGEN is
to receive an initial payment of EUR 3 million as well as a EUR 2 million
equity investment by ONCOLOGIE within the next 12 months.
Besides the initial payment and the equity investment, the parties agreed
on further development and commercialisation milestones. They are due upon
reaching predefined development steps as well as market approval. In
addition, commercial milestones are defined which are due upon reaching
certain sales thresholds. The total payments can amount to above EUR 100
million and will be paid over several years. Additionally, MOLOGEN will
receive low double digit royalties on sales. MOLOGEN and ONCOLOGIE will
share the economic returns from global joint development pursuant to both
parties' contributions.
All costs relating to development, registration, marketing and
commercialization of lefitolimod in the territory are to be covered by
ONCOLOGIE.
- End of the ad-hoc notification -
Contact
Claudia Nickolaus
Head of Investor Relations & Corporate Communications
Tel: +49 - 30 - 84 17 88 - 38
Fax: +49 - 30 - 84 17 88 - 50
1 investor@mologen.com
Note about risk for future predictions
Certain information in this report contains forward-looking statements or
the corresponding statements with negation or versions deviating from this
or comparable terminology. These are described as forward-looking
statements. In addition, all of the information given here that refers to
planned or future results of business areas, key financial figures,
developments of the financial situation or other financial figures or
statistical data, is to be understood as such forward-looking statements.
The company points out to investors that they should not rely on these
forward-looking statements as predictions about actual future events. The
company is not obligated and refuses to accept any liability for the
forward-looking statements and has no obligation to update such statements
in order to accurately reflect the current situation.
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13-Feb-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: MOLOGEN AG
Fabeckstraße 30
14195 Berlin
Germany
Phone: 030 / 841788-0
Fax: 030 / 841788-50
E-mail: presse@mologen.com
Internet: www.mologen.com
ISIN: DE0006637200
WKN: 663720
Regulated Market in Frankfurt (Prime Standard); Regulated
Listed: Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service
653935 13-Feb-2018 CET/CEST
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References
Visible links
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