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.
Information and Explanation of the Issuer to this News:
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 (NASDAQ: MGTA) 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. Since June 2018, Magenta is listed on NASDAQ. For more information, please visit www.magentatx.com.
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.
|
Contact |
IR/PR support |
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.