Ad-hoc | 28 December 2006 08:22
4SC AG / Joint Venture
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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4SC and XL TechGroup found new company for the development of biofilm
inhibitory substances
Planegg-Martinsried, Germany, 28 December 2006 - The drug discovery and
development company 4SC AG (Frankfurt, Prime Standard: VSC), based in
Martinsried, Germany and Florida US based XL TechGroup, Inc. (AIM: XLT)
announced today the formation of a new company for the development and
marketing of substances which influence bacterial biofilm formation. The
company, with the name QuoNova, is registered in the US and has obtained
4SC AG’s exclusive global rights to the substances and related know how.
In return 4SC AG will receive payments totalling US$2 million together with
research funding, staged over several years, as well as a 10 per cent
equity interest in QuoNova.
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Information and Explaination of the Issuer to this News:
The business model of Florida-based XL TechGroup, which is listed on the
AIM, consists of first identifying global unmet market needs and then
targeting and exploiting these by the systematic creation of successful,
disruptive technology businesses. These are built from scratch, and are
then funded and developed by XL TechGroup through to the point of a trade
sale or a stock market listing. The first company created under the XL
TechGroup banner in 2002, AgCert International, was listed on the London
Stock Exchange in June 2005.
In 4SC AG's QSB substances (QSB stands for 'Quorum Sensing Blocker'), the
XL TechGroup sees great potential for marketing in the most diverse areas.
These substances prevent the colonisation of surfaces by bacteria (known as
'biofilms') by blocking their intercellular communication systems. In
contrast to conventional forms of antibiotic treatment, they have no toxic
effects and involve only a minimal risk of building up resistance. QSBs are
therefore suitable for a wide range of applications, for example as
therapeutics or consumer health care products, as well as for industrial
and environmental health applications. 4SC AG identified the QSB substances
prior to a strategic decision which necessitated focussing their pipeline
projects on inflammatory diseases and cancer.
'The possible applications of these biofilm blockers are almost unlimited,'
says John S. Scott, CEO of XL TechGroup. 'We will be evaluating all the
development options for this project in the coming months, and then
establishing the future timetable.'
About 4SC
4SC AG (ISIN DE0005753818) has been listed in the Prime Standard of
Frankfurt Stock Exchange since 15 December 2005. Founded in 1997 and now
with a staff of 59, the company develops novel drug candidates for
inflammatory diseases and cancer using a cheminformatics based technology
platform. Traditional high throughput screening of therapeutic agents has
been transferred from the lab to the computer. Thus, the company offers
substantial cost and time advantages as well as increased success rates in
drug development. 4SC AG uses its patented technology platform to create a
sustainable product pipeline for active agents that are developed in early
clinical phases ('proof of concept') and subsequently result in upfront and
milestone payments as well as participation in sales generated by
out-licensed products to the pharmaceutical industry. There are currently
five projects in the pipeline. The first project on the treatment of
rheumatoid arthritis is currently undergoing clinical phase IIa. Three
other product candidates are in pre-clinical development and another
project is in the research stage. Furthermore, the company has its
technology platform in co-operation projects with biotech and pharma
companies and is already generating initial revenues.
Legal Note
This document may contain projections or estimates relating to plans and
objectives relating to our future operations, products, or services; future
financial results; or assumptions underlying or relating to any such
statements; each of which constitutes a forward-looking statement subject
to risks and uncertainties, many of which are beyond our control. Actual
results could differ materially, depending on a number of factors.
For further information, please contact us:
Bettina von Klitzing
Manager Investor Relations und Public Relations
4SC AG
Tel.: +49 (0) 89 70 07 63 – 0
Bettina.von.klitzing@4sc.com
On behalf of 4SC AG:
Regine Petzsch
komm.passion Schumacher´s AG
Tel.: +49 (0) 89 48 92 72 – 40
Regine.Petzsch@komm-passion.de
DGAP 28.12.2006
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Language: English
Issuer: 4SC AG
Am Klopferspitz 19a
82152 Martinsried Deutschland
Phone: +49 (0)89 7007 63-0
Fax: +49 (0)89 7007 63-29
E-mail: public@4sc.com
WWW: www.4sc.de
ISIN: DE0005753818
WKN: 575381
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin-Bremen, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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