4SC AG / Contract
04.06.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Planegg-Martinsried, Germany, 04 June 2008 Martinsried-based drug
discovery and development company 4SC AG (Frankfurt, Prime Standard: VSC)
today announced the signing of a contract to acquire several projects from
the oncology portfolio of Nycomed. The total purchase price amounts to 14
million euros.
In this transaction, 4SC AG acquires all rights to eight of Nycomeds
oncology projects, including one project in clinical phase I. This marks a
significant expansion of the companys 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).
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Information and Explaination of the Issuer to this News:
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 74, the company develops novel drug candidates for
inflammatory diseases, cancer and infectious diseases 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 utilises its
technology platform, which is protected by patent, to create a sustainable
project pipeline of active agents to be developed up to the early clinical
phases ('proof of concept') and subsequently licensed to the pharmaceutical
industry in return for advance and milestone payments as well as royalties.
There are currently six projects in the pipeline and a so-called ideas
pool with further development candidates. The first project for the
treatment of rheumatoid arthritis has already successfully completed
clinical phase IIa. Four other product candidates are in pre-clinical
development and another project is in the research stage. In addition, the
company is implementing its technology platform in partnerships with
pharmaceutical and biotechnology 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.
Bettina von Klitzing
Manager Investor Relations & Public Relations
4SC AG
Tel.: +49 (0) 89 70 07 63 - 0
Bettina.von.klitzing@4sc.com
DGAP 04.06.2008
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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
Internet: www.4sc.de
ISIN: DE0005753818
WKN: 575381
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: 4SC to acquire Nycomed oncology projects
| Source: EQS Group AG