Company Outlines Epigenetics Strategy for Development of Oncology Therapeutic Candidates
Planegg-Martinsried, Germany, April 29, 2016 - 4SC AG (4SC, FSE Prime Standard: VSC) today announced the sale of the operations of its subsidiary 4SC Discovery GmbH (4SC Discovery) to newly incorporated BioNTech Small Molecules GmbH (BioNTech Small Molecules). The sale comprises all key operating assets of the subsidiary. 4SC Discovery will retain its preclinical research projects. 4SC will continue using the epigenetic schemes and the underlying intellectual property for itself, and in addition plans to out-license other projects.
BioNTech Small Molecules is a wholly-owned subsidiary of Mainz, Germany-based BioNTech AG (BioNTech). The purchase price for the assets to be transferred with immediate effect amounts to EUR 650 thousand. In addition and without financial compensation, 4SC will be granted the right to temporarily utilize research services provided by BioNTech Small Molecules worth a person year. As of May 1, 2016, all 22 employees of 4SC Discovery in the framework of a transfer of operations will be taken over and will continue to work at the existing facility in Planegg-Martinsried. The assets to be transferred include the 4SCan® software developed in-house for compound discovery and optimization, 4SC Discovery’s tangible fixed assets and its substance libraries. Other intangible assets are not affected by this transaction.
Enno Spillner, CEO of 4SC, said: ‘In light of our mission to be leaders in the clinical development of our epigenetic oncology therapeutic candidates, 4SC-202 and Resminostat, we are pleased to have secured the strategic sale of our Discovery division. The sale of these very early stage assets enables our strategy of providing the Company additional runway and resources for rapid growth. With the transaction in effect, it will be possible for us to enhance 4SC cost-efficiently and to remain focused on the key value drivers of the company. Our long-term business partner BioNTech can ideally supplement its existing immunotherapy business and will keep the existing 4SC Discovery facility in Martinsried.’
Dr Sierk Poetting, CFO of BioNTech, added: ‘And we are very glad to expand our team with the experienced and competent scientists of 4SC Discovery. The successful research activities will now continue under the newly founded BioNTech Small Molecules, constituting a real asset for the entire BioNTech Group. The innovative technology now enables us to develop next-generation immunotherapies against cancer also on the basis of medicinal chemistry. Further, we will use our new research and development unit to expand and optimize our existing platforms.’
About 4SC
4SC (www.4cs.com) is a biotechnology company dedicated to the research and development of small-molecule drugs focused on epigenetic mechanisms of action for the treatment of cancers with high unmet medical needs. These drugs are intended to provide innovative treatment options that are more tolerable and efficacious than existing therapies, provide a better quality of life and offer increased life expectancy. The Company’s pipeline comprises promising products that are in various stages of clinical development. 4SC’s aim is to generate future growth and enhance its enterprise value by entering into partnerships with pharmaceutical and biotech companies. Founded in 1997, 4SC had 67 employees at 31 December 2015. 4SC has been listed on the Prime Standard of the Frankfurt Stock Exchange since December 2005.
About BioNTech AG
BioNTech (www.biontech.de) is an immunotherapy leader with bench-to-market capabilities, developing truly personalized, well-tolerated and potent treatments for cancer and other diseases. Established by clinicians and scientists, the Group is pioneering disruptive technologies ranging from individualized mRNA based medicines through innovative chimeric antigen receptors / T-cell receptor-based products and novel antibody checkpoint immunomodulators. BioNTech’s clinical programs are supported by an in-house molecular diagnostics unit. Founded in 2008, BioNTech is privately held, with the Strüngmann Family Office acting as the majority shareholder.
