[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[]
Related Funds
[]
English
oda_NoncurrentFinancialAssetAcquisitionAbstract|
Noncurrent Financial Asset Acquisition
oda_UpdateAnnouncementFlag|
Update Notification Flag
Hayır (No)
oda_CorrectionAnnouncementFlag|
Correction Notification Flag
Hayır (No)
oda_DateOfThePreviousNotificationAboutTheSameSubject|
Date Of The Previous Notification About The Same Subject
-
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_BoardDecisionDateForAcquisition|
Board Decision Date for Acquisition
14/12/2021
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
Were Majority of Independent Board Members' Approved the Board Decision for Acquisition
No
oda_TitleOfNoncurrentFinancialAssetAcquired|
Title of Non-current Financial Asset Acquired
RS Araştırma Eğitim Danışmanlık İlaç Sanayi Ticaret A.Ş.
oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
Field of Activity of Non-current Financial Asset whose Shares were being Acquired
Biotechnology
oda_CapitalOfNoncurrentFinancialAsset|
Capital of Noncurrent Financial Asset
TL 84229
oda_AcquirementWay|
Acquirement Way
Satın Alma (Purchase)
oda_DateOnWhichTheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
23/12/2021
oda_AcquisitionConditions|
Acquisition Conditions
Peşin (Cash)
oda_DetailedConditionsIfItIsATimedPayment|
Detailed Conditions if it is a Timed Payment
-
oda_NominalValueOfSharesAcquired|
Nominal Value of Shares Acquired
TL 9853
oda_PurchasePricePerShare|
Purchase Price Per Share
USD 456,71
oda_TotalPurchasingValue|
Total Purchasing Value
USD 4500000
oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
Ratio of New Shares Acquired to Capital of Non-current Financial Asset (%)
11,70
oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Transaction (%)
11,70
oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
Total Voting Right Ratio Owned in Non-current Financial Asset After Transaction (%)
11,70
oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Non-current Financial Asset Acquired to Total Assets in Latest Disclosed Financial Statements of Company (%)
4
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
2,97
oda_EffectsOnCompanyOperations|
Effects on Company Operations
It is considered that it will have a positive effect as GEN will gain priority in the commercialization of the products developed by the shareholder company in certain regions.
oda_DidTakeoverBidObligationArised|
Did Takeover Bid Obligation Arised?
Hayır (No)
oda_WillExemptionApplicationBeMadeIfTakeoverBidObligationArised|
Will Exemption Application be Made, if Takeover Bid Obligation Arised?
Hayır (No)
oda_TitleNameSurnameOfCounterParty|
Title/ Name-Surname of Counter Party
ACT Venture Partners
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Hayır (No)
oda_RelationWithCounterPartyIfAny|
Relation with Counter Party if any
-
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
15/12/2021
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
Negotiation Method
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlenmedi (Not Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
Not Obligatory
oda_DateAndNumberOfValuationReport|
Date and Number of Valuation Report
-
oda_TitleOfValuationCompanyPreparedReport|
Title of Valuation Company Prepared Report
-
oda_ValueDeterminedInValuationReportIfExists|
Value Determined in Valuation Report if Exists
-
oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
Reasons if Transaction wasn't/will not be performed in Accordance with Valuation Report
-
oda_ExplanationSection|
Explanations
oda_ExplanationTextBlock|

-Unoffical Translation-

As a result of the search for new products, new production-sales-distribution relations/regions and new partnerships in line with their growth and innovation strategies our company Gen İlaç ve Sağlık Ürünleri San. ve Tic. A.Ş. (GEN) became partner of RS Araştırma Eğitim Danışmanlık İlaç Sanayi Ticaret A.Ş. (RS Research) , which develops biotechnological medicine candidates in the field of oncology, according to the Share Purchase and Shareholders' Agreement signed on 15.12.2021. With this agreement, GEN become a shareholder of 11.70% by purchasing shares from the existing partner and then participating in the capital increase. Share purchase and capital increase transactions will take place on 23.12.2021.

Investment made by GEN to the RS Research creates strategical value towards expertise of both parties on their field. GEN and RS Research shares the target of providing a medicine which developed in Turkey to the cancer patients all over the world. The synergy to be created will add value to the development of in ecosystem beyond the institutions. At the same time this investment serves the one of our growth strategy which is making early stage investment to the companies which have improvement potential and as a result of this investment, provide companies development opportunity and access opportunity for patients to the innovative treatments.

With this Agreement at the same taime GEN obtained the priority right for commercialization of existing innovative medicines which developing by RS Research on the field of oncology after completion of clinical development phases. This commercialization priority is given to GEN in Turkey, Russia and other CIS countries and MENA region. One of the drug candidates which we obtained commercialization priority and most advanced stage and clinical trials has been started is in the field of non-small cell lung cancer (NSCLC). According to the report published by GlobalData it has been forecasted that market size of NSCLC will be 16.9 billion USD as of 2025.

In accordance with subjected Agreement GEN has also commited to participate in capital increase to be made in case of technical oblogations which determined with agreement about medicine are completed by RS Research.

With this investment, GEN contributed both to its own growth and to the development of the local drug industry investments in our country.

About RS Research

RS Research has been founded in 2015 by Prof. Rana Sanyal ve Sena Nomak, in order to bring the research carried out in the laboratory to the clinical stage and to provide people. First investment made to the company in 2017. RS Research developed first new drug candidate which development steps taken in Turkey starting from design in laboratory and approved by Turkish ministry of health for clinical Research. This drug candidate continue to its clinical work which started on May 2021 in two centers. On company's portfolio 5 drug candidates which aims different cancer types and developed by Sagitta® platform technology which all intellectual property rights have been protected all over the world. The company's production facility received GMP certification  for clincal trials from the Turkish Ministry of Health in August 2021 for the pilot-scale production of lyophilized oncological medicines. RS Research which completed necessary production facility for its researchs aiming to be world-wide player and globalize drug candidates on its portfolio through its subsidiary in Switzerland.

Kindly submitted to your information.