Ad-hoc | 6 July 2012 19:58
WILEX AG / Key word(s): Strategic Company Decision
06.07.2012 19:58
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 AG opts for further payment under the licence agreement with
Prometheus
Munich, Germany, 6 July 2012. The Executive Management Board of WILEX AG
(ISIN DE0006614720/WL6/FSE) today resolved with the approval of the
Supervisory Board to opt for a further cash payment according to the
licence agreement with Prometheus Laboratories Inc. (Prometheus), San
Diego, CA, USA, for the out-licensing of the marketing rights to
RENCAREX(R) (Girentuximab) in the United States.
WILEX and Prometheus agreed on an immediate payment of USD 17.5 million.
Additionally, the milestone payment due upon regulatory submission of
RENCAREX(R) increases by USD 2.5 million and substitutes a later milestone
for the same amount.
The parties mutually terminated the negotiations for the commercial rights
to an undisclosed product in Europe. However, it was agreed that Prometheus
will make an introduction between WILEX and the owner of the product rights
at WILEX' request.
Under the terms of the licence agreement with Prometheus, WILEX received
USD 19 million in May 2011 upon signing. In addition, WILEX had the option
either to be paid USD 15.0 million six months or USD 20.0 million twelve
months after contract signing, or to be granted the commercial rights to an
undisclosed product in Europe. Furthermore, WILEX is entitled to milestone
payments and royalties on net sales of RENCAREX(R) in the USA, and
Prometheus will continue to co-fund the development of RENCAREX(R).
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Information and Explaination of the Issuer to this News:
About WILEX
WILEX AG is a biopharmaceutical company based in Munich, Germany. Focused
on oncology, the Company has a broad portfolio of diagnostic and
therapeutic products for the specific detection and targeted treatment of
various types of cancer. WILEX's therapeutic product candidates are based
on antibodies (RENCAREX(R) in Phase III) and small molecules (MESUPRON(R)
in Phase II, WX-554 in Phase Ib/II and WX-037 in preclinical development).
In the field of diagnostics, REDECTANE(R) is an antibody-based, imaging in
vivo diagnostic agent that is currently in a Phase III programme. WILEX's
US subsidiary WILEX Inc. in Cambridge, MA, markets a portfolio of research
use only tests and in vitro diagnostic agents under the brand Oncogene
Science, which are used as companion diagnostics for clinical trials and
therapy monitoring. The wholly owned subsidiary Heidelberg Pharma GmbH
offers an attractive and highly promising antibody drug conjugate
technology platform and preclinical contract research services. The
business model of WILEX comprises research, technology, product development
and commercialisation. WILEX's customers and partners include leading
international pharmaceutical companies.
Website: http://www.WILEX.com, ISIN DE0006614720 / WKN 661472 / Symbol WL6
Contact
WILEX AG
Corporate Communications
Katja Arnold (CIRO)
Grillparzerstrasse 10
81675 Munich, Germany
Tel.: +49 (0)89-41 31 38-126
Fax: +49 (0)89-41 31 38-99
Email: investors@wilex.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.
06.07.2012 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
Germany
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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