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4SC and ViroLogik conclude a licensing and cooperation agreement
The agreement stipulates that ViroLogik GmbH has secured a globally exclusive licence from 4SC AG for the development, manufacture and marketing of SC68896 in the indication of viral infections. 4SC AG itself will further develop the substance for the treatment of cancer.
ViroLogik GmbH will be - in consultation with 4SC AG - responsible for the development, manufacture and marketing of SC68896 for viral diseases. Both companies will exchange expertise acquired during the entire duration of the development which is relevant to the respective cooperation partner and also implement collective development activities. The developmental costs resulting from this will be shared.
In addition to the licensing and cooperation agreement, an optional agreement is also included regarding the acquisition of additional substances from prospective research and development activities of 4SC AG with regard to cellular proteases.
In accordance with the agreement, ViroLogik GmbH is to pay a licence fee to the amount of 750,000 Euros as an upfront payment to 4SC AG. Furthermore, 4SC AG is entitled to receive, dependent on the success of the clinical development and marketing, milestone payments from ViroLogik GmbH of up to 56.5 million Euros, along with royalties for each product developed and marketed and from possible back-up substances based on SC68896.
Information and Explaination of the Issuer to this News:
SC68896 is a drug candidate from the current development pipeline of 4SC AG. The protease inhibitor is a result of the company's own research activities and has been developed in the past few years in particular to treat cancer, as for example multiple myeloma or brain tumours - two indications with extremely high medical need. The drug candidate is currently in pre-clinical development. In the course of 2007, 4SC AG has tested the efficacy and tolerability of the substance, in particular for the treatment of brain tumours. There are currently studies taking place to determine the optimal pharmaceutical formulation in order to lay the basis for the start of clinical studies.
'There is evidence that inhibiting cellular proteases can be a successful strategy against viral diseases. We are delighted to be able to fully exploit the potential of SC68896 with ViroLogik,' commented Dr Ulrich Dauer, Chairman of the Management Board of 4SC AG. 'ViroLogik GmbH has been dedicated to combating viral infectious diseases and therefore from our point of view is the perfect partner in this sector.' Moreover, it is the synergies especially which are to be achieved from joint clinical developmental activities which make the cooperation particularly interesting, explains Dr Dauer further.
'The results of studies by 4SC AG to date have convinced us that the substance has excellent potential in application for viral diseases,' outlined Prof Ulrich Schubert, CSO of ViroLogik GmbH. 'We are also delighted to have found in 4SC AG an experienced and competent cooperation partner in the area of advanced drug development.'
ViroLogik GmbH deals with the development, testing and marketing of new medications and forms of treatment for viral infections. In so doing, the company uses patented procedures in order to influence the interaction of cellular and viral factors. The innovative therapeutic approaches are used in the treatment of infections with viruses, which, due to their high frequency of mutation, tend to be resistant to the classic treatment forms for viruses [in particular the Human Immunodeficiency Virus (HIV), Influenza-A-Virus (IAV) and Hepatitis-C- and B-Viruses (HB/CV)].
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 77 employees, the company develops novel drug candidates against inflammatory diseases and cancer. 4SC AG utilises its patent protected platform, to create a sustainable project pipeline of drug candidates, which are to be developed up to clinical efficacy in early clinical phases ('proof of concept') and subsequently partnered with the pharmaceutical industry in return for advance and milestone payments as well as royalties. There are currently eight projects in the development pipeline and a rich pool of further discovery projects. Clinical phase IIa for he first project for the treatment of rheumatoid arthritis has already successfully been completed. An additional project for the treatment of various cancers is currently completing a clinical phase I trial. Further projects are in advanced pre-clinical stages.
Further information is to be found at www.4sc.com.