DGAP-Adhoc
Cytos Biotechnology AG exclusively licenses its VLP platform for the treatment of hepatitis B infections to OnCore Biopharma
EQS Group-Ad-hoc: Cytos Biotechnology AG / Key word(s): Agreement
Cytos Biotechnology AG exclusively licenses its VLP platform for the
treatment of hepatitis B infections to OnCore Biopharma
06.01.2015 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------
Schlieren (Zurich), Switzerland, January 6, 2015 -Cytos Biotechnology Ltd.
(SIX:CYTN) ("Cytos") announced today that it executed an exclusive license
agreement granting OnCore Biopharma, Inc. ("OnCore") access to Cytos'
clinically validated virus like particle (VLP) platform for the use in the
treatment and prevention of hepatitis B viral infections. Cytos also
granted an option for the treatment of additional viral diseases other than
influenza. The agreement will become effective with the achievement of
certain closing conditions, including a successful debt restructuring of
Cytos.
For the first product in each of six possible product categories in the
field of Hepatitis B that may be developed under the agreement, Cytos may
receive up to USD 67 million in development milestones, or a maximum of USD
402 million if one product in each product category is developed. In
addition, Cytos is eligible to receive commercial milestone payments of up
to USD 120 million upon achievement of certain sales levels, and up to
double-digit royalties on net sales from any successfully developed
product.
"We are excited about the potential for our VLP platform to improve the
outcome for patients with hepatitis B and other viral infections and
believe that OnCore is well positioned to advance treatment options for
this important unmet medical need", commented Christian Itin, Chairman and
CEO of Cytos, and added "OnCore's management team has extensive experience
in the development of hepatitis therapies. The choice of Cytos' VLP
platform as part of their Hepatitis B pipeline provides our shareholders
with a potential upside from milestone and royalty payments."
For further information, please contact:
Cytos Biotechnology Ltd
Harry Welten, MBA
Chief Financial Officer
Tel: +41 44 733 46 46
harry.welten@cytos.com
About Hepatitis B
Hepatitis B is a serious infection of the liver caused by the hepatitis B
virus (HBV) and is considered a major global health problem. Hepatitis B
infection can cause chronic liver disease, which increases a patient's risk
of death from liver cirrhosis and liver cancer. Estimates from the Centers
Schlieren (Zurich), Switzerland, January 6, 2015 -Cytos Biotechnology Ltd.
(SIX:CYTN) ("Cytos") announced today that it executed an exclusive license
agreement granting OnCore Biopharma, Inc. ("OnCore") access to Cytos'
clinically validated virus like particle (VLP) platform for the use in the
treatment and prevention of hepatitis B viral infections. Cytos also
granted an option for the treatment of additional viral diseases other than
influenza. The agreement will become effective with the achievement of
certain closing conditions, including a successful debt restructuring of
Cytos.
For the first product in each of six possible product categories in the
field of Hepatitis B that may be developed under the agreement, Cytos may
receive up to USD 67 million in development milestones, or a maximum of USD
402 million if one product in each product category is developed. In
addition, Cytos is eligible to receive commercial milestone payments of up
to USD 120 million upon achievement of certain sales levels, and up to
double-digit royalties on net sales from any successfully developed
product.
"We are excited about the potential for our VLP platform to improve the
outcome for patients with hepatitis B and other viral infections and
believe that OnCore is well positioned to advance treatment options for
this important unmet medical need", commented Christian Itin, Chairman and
CEO of Cytos, and added "OnCore's management team has extensive experience
in the development of hepatitis therapies. The choice of Cytos' VLP
platform as part of their Hepatitis B pipeline provides our shareholders
with a potential upside from milestone and royalty payments."
For further information, please contact:
Cytos Biotechnology Ltd
Harry Welten, MBA
Chief Financial Officer
Tel: +41 44 733 46 46
harry.welten@cytos.com
About Hepatitis B
Hepatitis B is a serious infection of the liver caused by the hepatitis B
virus (HBV) and is considered a major global health problem. Hepatitis B
infection can cause chronic liver disease, which increases a patient's risk
of death from liver cirrhosis and liver cancer. Estimates from the Centers
Diskutieren Sie über die enthaltenen Werte
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte