- Pressemitteilung BoxID 47348
4SC to acquire Nycomed oncology projects
In this transaction, 4SC AG acquires all rights to eight of Nycomed's oncology projects, including one project in clinical phase I. This marks a significant expansion of the company's clinical and pre-clinical portfolio. The transaction is due to be completed by 31 July 2008.
In return, Nycomed will receive a cash payment from 4SC AG totalling 14 million euros. The financing for this transaction and for the further development of the projects by 4SC AG is to be provided by raising additional funding, which amounts to 25 million euros. This financing is supported by Santo Holding (Deutschland) GmbH, the largest single shareholder in 4SC AG. No final decision has yet been made about the exact form it will take (equity capital or by drawing on a corporate loan already agreed upon).
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.