Wilex AG Sends Back Some Promising Drugs To UCB, Inc. In Effort To Stay Alive
Published: May 22, 2014
WILEX returns rights from collaboration in oncology to UCB and UCB waives repayment of the shareholder loan
Munich, Germany, 21 May 2014. WILEX AG (ISIN DE0006614720 / WL6 / FSE) today announced that due to the strategic re-alignment implemented at WILEX AG, the collaboration agreement for the clinical product candidates WX-554 and WX-037 and for three preclinical antibody programmes has been terminated by mutual agreement. WILEX will return all rights granted and will transfer all intellectual property, data and documents generated in connection with the programmes to UCB. Furthermore an agreement regarding an antibody programme for non-oncology indications signed last year has been terminated.
WILEX will receive a final payment for reimbursement of R&D expenses. UCB has agreed to waive repayment of the EUR 2.5 million shareholder loan granted in December 2010 on completion of the transfer. This does not affect UCB's role as a shareholder of WILEX AG.
Information and Explaination of the Issuer to this News:
WILEX AG is a biopharmaceutical company based in Munich, Germany. Focused on oncology, the Company develops diagnostic and therapeutic product candidates based on antibodies and small molecules, which are available for out-licensing. The subsidiary Heidelberg Pharma GmbH offers preclinical contract research services and an antibody drug conjugate (ADC) technology platform. Our customers and partners include leading international pharmaceutical companies. WILEX is listed at the Frankfurt Stock Exchange: ISIN DE0006614720 / WKN 661472 / Symbol WL6. More information is available at www.wilex.com
Contact IR/PR support
WILEX AG MC Services AG
Corporate Communications Katja Arnold (CIRO)
Sylvia Wimmer Tel.: +49 (0)89-210 228-40
Tel.: +49 (0)89-41 31 38-29 Mobile: +49 (0)160 9360 3022
Email: investors[at]wilex.com Email: katja.arnold[at]mc-services.eu
Grillparzerstr. 10, 81675 Munich
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 position, earnings, achievements, or industry results, to be materially different from any future results, earnings 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.
Help employers find you! Check out all the jobs and post your resume.