DGAP-Adhoc: Cytos Biotechnology AG exclusively licenses its VLP platform for the treatment of hepatitis B infections to OnCore Biopharma
EQS Group-Ad-hoc: Cytos Biotechnology AG / Key word(s): Agreement
Cytos Biotechnology AG exclusively licenses its VLP platform for the
treatment of hepatitis B infections to OnCore Biopharma
06.01.2015 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------
Schlieren (Zurich), Switzerland, January 6, 2015 -Cytos Biotechnology Ltd.
(SIX:CYTN) ("Cytos") announced today that it executed an exclusive license
agreement granting OnCore Biopharma, Inc. ("OnCore") access to Cytos'
clinically validated virus like particle (VLP) platform for the use in the
treatment and prevention of hepatitis B viral infections. Cytos also
granted an option for the treatment of additional viral diseases other than
influenza. The agreement will become effective with the achievement of
certain closing conditions, including a successful debt restructuring of
Cytos.
For the first product in each of six possible product categories in the
field of Hepatitis B that may be developed under the agreement, Cytos may
receive up to USD 67 million in development milestones, or a maximum of USD
402 million if one product in each product category is developed. In
addition, Cytos is eligible to receive commercial milestone payments of up
to USD 120 million upon achievement of certain sales levels, and up to
double-digit royalties on net sales from any successfully developed
product.
"We are excited about the potential for our VLP platform to improve the
outcome for patients with hepatitis B and other viral infections and
believe that OnCore is well positioned to advance treatment options for
this important unmet medical need", commented Christian Itin, Chairman and
CEO of Cytos, and added "OnCore's management team has extensive experience
in the development of hepatitis therapies. The choice of Cytos' VLP
platform as part of their Hepatitis B pipeline provides our shareholders
with a potential upside from milestone and royalty payments."
For further information, please contact:
Cytos Biotechnology Ltd
Harry Welten, MBA
Chief Financial Officer
Tel: +41 44 733 46 46
harry.welten@cytos.com
About Hepatitis B
Hepatitis B is a serious infection of the liver caused by the hepatitis B
virus (HBV) and is considered a major global health problem. Hepatitis B
infection can cause chronic liver disease, which increases a patient's risk
of death from liver cirrhosis and liver cancer. Estimates from the Centers
for Disease Control and Prevention (CDC) indicate that up to 350 million
people globally may be chronically infected with hepatitis B and, according
to the World Health Organization (WHO), more than 780,000 people die every
year due to hepatitis B. Most currently-available therapies aim to suppress
this viral infection but do not lead to a cure in the overwhelming majority
of patients.
About Cytos Biotechnology Ltd
Cytos is a public biopharmaceutical company located in Schlieren (Zurich),
Switzerland. The Company is listed according to the Main Standard on the
SIX Swiss Exchange Ltd under the symbol CYTN.
About Cytos' VLP platform
Cytos proprietory, versatile and highly-defined VLP platform which can be
used for the generation B- and T- cell vaccines and as immunmodulators is
based on bacteriophage Q beta-derived virus-like particles (Qb VLPs). These
QbVLPs act as immune-stimulatory carriers for disease-associated antigens
and can be used for the delivery of immune modulators. The platform builds
on the repetitive and highly ordered protein array formed by Qb VLPs and
the immune stimulatory nucleic acids included inside the VLPs acting as
toll-like receptor (TLR) - ligands. GMP grade Qb VLPs are produced
efficiently at large scale in E.coli. Qb VLPs can either be used directly
as immune stimulators, or combined with selected antigens chemically linked
to the VLP surface as conjugate vaccine.
Cytos and its partners have tested a wide array of antigens ranging from
chemical entities, to peptides, to large multimeric proteins. Vaccine
candidates based on Cytos' Qb VLP platform have been tested in various
preclinical and clinical studies and were found to be safe, generally well
tolerated and highly immunogenic. The vaccine platform is modular, robust
and scalable. Clinical programs include the partnered B-cell vaccine
programs against Alzheimer's Disease with Novartis, against allergy with
Pfizer and against influenza with A*Star. Moreover the QbVLPs filled with a
TLR9 agonist were clinically tested for a T-cell vaccine candidate against
Melanoma as well as an immune modulator in allergic diseases like rhinitis
and allergic asthma.
Forward Looking Statements
This media release contains certain forward-looking statements that involve
risks and uncertainties that could cause actual results to be materially
different from historical results or from any future results expressed or
implied by such forward-looking statements. You are urged to consider
statements that include the words "will" or "expect" or the negative of
those words or other similar words to be uncertain and forward-looking.
Factors that may cause actual results to differ materially from any future
results expressed or implied by any forward-looking statements include
scientific, business, economic and financial factors, Against the
background of these uncertainties, readers should not rely on
forward-looking statements. The Company assumes no responsibility for
updating forward-looking statements or adapting them to future events or
developments.
www.cytos.com
End of ad hoc announcement
+++++
Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=HJTYNVRMOG
Document title: Cytos_Press_E_150106_Licence
---------------------------------------------------------------------
06.01.2015 News transmitted by EQS Schweiz AG. www.eqs.com - news
archive: http://switzerland.eqs.com/de/News
The issuer is responsible for the contents of the release.
---------------------------------------------------------------------
Language: English
Company: Cytos Biotechnology AG
Wagistr. 25
8952 Schlieren
Switzerland
Phone: +41 44 733 4747
Fax: +41 44 733 4740
E-mail: info@cytos.com
Internet: www.cytos.com
ISIN: CH0011025217, CH0029060735
Valor: -
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; SIX
End of News EQS Group News-Service
---------------------------------------------------------------------
310091 06.01.2015