Ad-hoc | 30 April 2011 00:16
WILEX AG / Key word(s): Strategic Company Decision/Alliance
30.04.2011 00:16
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ad-hoc release pursuant to § 15 Wertpapierhandelsgesetz
(German Securities Trading Act)
WILEX grants exclusive US commercialisation rights for RENCAREX(R) to
Prometheus
Munich, Germany, 29. April 2011: WILEX AG (ISIN DE0006614720, Frankfurt
Stock Exchange) today announced the granting of US commercialisation rights
for RENCAREX(R) (Girentuximab) to Prometheus Laboratories Inc.
(Prometheus), San Diego, CA, USA. Prometheus is an established specialty
pharmaceutical and diagnostics company with a proven track record in
gastroenterology and oncology.
In return, WILEX will receive $39 million, $19 million upon signing and
either $20 million after twelve months or alternatively the European
commercial rights for an undisclosed product from Prometheus. In addition
WILEX will receive milestone payments and royalties on US net sales of
RENCAREX(R). Furthermore Prometheus will co-fund a portion of the ongoing
development of RENCAREX(R). This potentially values the deal at over $145
million plus royalties on net sales in the United States.
Contact
WILEX AG
Corporate Communications
Katja Arnold (CIRO)
Grillparzerstr. 10
81675 Munich, Germany
Tel.: +49 (0)89-41 31 38-126
Fax: +49 (0)89-41 31 38-99
E-mail: investors@wilex.com
+++ End of the Ad-hoc release +++
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Information and Explaination of the Issuer to this News:
Additional information to this announcement:
Invitation to the conference call
On 2 May, WILEX will hold a public conference call for media, analysts and
investors in English at 3:00 p.m. CET. Please dial in ten minutes before
the conference call using the following dial-in numbers:
1. Germany: +49 69 6677 75756
2. UK: +44 20 3003 2666
3. USA: +1 212 999 6659
You will be welcomed by an operator taking your name and company. The
presentation for the conference will be available for download at the
website http://www.wilex.de/IR/Presentations.php at 2:00 p.m. CET. A replay
will be available after the conference on the website.
About RENCAREX(R)
RENCAREX(R) (girentuximab) is a highly specific chimeric monoclonal
antibody that binds to a cell surface antigen, the CA IX-antigen, which is
found on 95% of clear cell Renal Cell Carcinomas (ccRCC) and on various
other solid tumours but not on healthy tissue. Approximately 208,500 new
cases of kidney cancer are diagnosed each year worldwide and the most
prevalent form is ccRCC. Roughly one third of the patients will die from
RCC. Standard therapy for non-metastatic RCC is resection of the affected
kidney (nephrectomy) followed by observation. Nevertheless, there is a high
risk of disease recurrence. There is no adjuvant treatment approved by the
FDA or EMA for patients after surgery. RENCAREX(R) is currently tested in a
Phase III trial versus placebo in the adjuvant setting in 864 patients with
non-metastatic clear cell renal cell cancer at high risk of recurrence
after nephrectomy. WILEX expects the results from the interim analysis for
efficacy of RENCAREX(R) in the second half of 2011. This analysis will
provide critical information regarding the trial endpoint - disease-free
survival - which could form the basis for the European application for
marketing approval.
About WILEX AG
WILEX AG is a biopharmaceutical company based in Munich, Germany. Focused
on oncology, the company has a broad portfolio of near-to-market
therapeutic and diagnostic products for the targeted treatment and specific
detection of various types of cancer. The company's therapeutic product
candidates are based on antibodies and small molecules. Through its US
subsidiary WILEX Inc. in Cambridge, MA, WILEX markets a portfolio of
oncological biomarker tests under the brand Oncogene Science. These
biomarkers can be used as companion diagnostics in clinical trials and for
therapy monitoring. Furthermore, the acquisition of Heidelberg Pharma AG;
Ladenburg, Germany, is set to give WILEX access to an attractive and highly
promising antibody drug conjugate technology platform (ADC) and a
pre-clinical service business. The business model of WILEX covers the
entire value chain in the oncology market and comprises research,
technology, development collaboration as well as sales and marketing.
WILEX's customers and partners include leading international pharmaceutical
companies. Website: http://www.WILEX.com, ISIN DE0006614720 / WKN 661472 /
Symbol WL6
About Prometheus
Prometheus Laboratories Inc. is committed to improving lives through the
development and commercialisation of novel pharmaceutical and diagnostic
products that enable physicians to provide greater individualised patient
care. Prometheus is a leader in applying the principles of personalised
medicine to the diagnosis and treatment of gastrointestinal diseases and is
applying these principles to oncology. Its strategy includes the marketing
and delivery of pharmaceutical products complemented by proprietary
diagnostic testing services. By integrating therapeutics and diagnostics,
Prometheus believes it can provide physicians with more targeted solutions
to optimise care for their patients. Prometheus' corporate offices are
located in San Diego, California. Website: http://www.prometheuslabs.com/
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
30.04.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: WILEX AG
Grillparzerstr. 10
81675 München
Deutschland
Phone: +49 (0)89 41 31 38 - 0
Fax: +49 (0)89 41 31 38 - 99
E-mail: info@wilex.com
Internet: www.wilex.com
ISIN: DE0006614720
WKN: 661472
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of Announcement DGAP News-Service
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