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08.07.2024 07:15:35 - dpa-AFX: EQS-Adhoc: Spexis AG: PARI Pharma GmbH announces termination of ColiFin® license to EnBiotix, Inc. (english)
Spexis AG: PARI Pharma GmbH announces termination of ColiFin® license to
EnBiotix, Inc.
Spexis AG / Key word(s): Miscellaneous
Spexis AG: PARI Pharma GmbH announces termination of ColiFin® license to
EnBiotix, Inc.
08-Jul-2024 / 07:15 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
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Ad hoc announcement pursuant to Art. 53 LR
Allschwil, Switzerland, 8 July, 2024
PARI Pharma GmbH announces termination of ColiFin® license to EnBiotix, Inc.
Spexis AG (SIX: SPEX), a clinical-stage biopharmaceutical company focused on
macrocycle therapeutics for rare diseases and oncology, today announced that
PARI Pharma GmbH ("PARI"), the owner of ColiFin®, its combination
drug-device inhaled colistin product, has terminated the license of ColiFin®
to EnBiotix, Inc., the wholly-owned subsidiary to which ColiFin® was
licensed in 2019.
PARI terminated the license pursuant to non-payment of a required license
payment by Enbiotix, Inc. ("Enbiotix") to PARI. The shares and assets of
Enbiotix and Spexis' other wholly-owned subsidiary Spexis Australia Pty Ltd
were both subject to a receivership which SPRIM implemented as part of its
alleged default of certain conditions of loans extended to Spexis, which
Spexis maintains it did not breach.
As a result of this non-payment and resulting license termination, Spexis is
continuing its negotiations with SPRIM regarding debt-restructuring while it
weighs its further business and legal options aimed in the short term to
obtain a definitive moratorium at the upcoming court hearing scheduled for
23 July 2024. In parallel, Spexis will seek to re-in-license ColiFin® from
PARI directly, subject to the Company completing a debt-restructuring with
its creditors and obtaining sufficient additional financing, which the
Company aims to raise in its ongoing and multi-pronged fundraising and
strategic transaction campaign to ultimately exit from moratorium. There can
be no assurance that such efforts will be successful.
Jeff Wager, MD, Chairman & CEO of Spexis, said: "This license termination is
obviously unfortunate in light of present moratorium circumstances, but we
are committed as a Company to fully explore all avenues available to
re-acquire rights to ColiFin®, continue debt-restructuring with our
creditors in the framework of a definitive moratorium in the immediate term
and ultimately exit from moratorium. There is increasing interest in
macrocycles, next-generation alternatives to antibody-drug-conjugates and
also radio-pharmaceuticals, and these are all areas in which Spexis has
proven assets and a unique product pipeline. We will continue to vigorously
market these assets and opportunities as part of its fundraising and
transaction campaign to firstly, obtain a definitive moratorium and then,
continue to seek to exit moratorium and ultimately, to deliver superior
returns to shareholders."
About Spexis
Spexis (SIX: SPEX) is a clinical-stage biopharmaceutical company based in
Allschwil, Switzerland, currently in provisional moratorium focused on
macrocycle therapeutics for rare diseases and oncology. For further
information please visit: www.spexisbio.com.
About Spexis' Macrocycle Platforms
Spexis possesses what we regard as some of the most distinct, highly diverse
and very well characterized macrocycle libraries in the world, together with
deep data on same, developed over the course of more than 25 years of
research and development and significant investment. These include
PEMFinder(TM), which is comprised of peptidomimetic macrocycles, and
MACROFinder(TM), which are small molecule macrocycles. Each have distinct
applications depending on the targets in question, which can be both
extracelluar and intracellular targets. In addition to generating the
specific OMPTA candidates described in this press release, these platforms
have generated multiple other drug candidates in the Spexis pipeline,
including murepavidin, balixafortide, lonodelestat and others.
For further information please contact:
Disclaimer
This press release contains forward-looking statements which are based on
current assumptions and forecasts of Spexis management. Known and unknown
risks, uncertainties, and other factors could lead to material differences
between the forward-looking statements made here and the actual development,
in particular Spexis' results, financial situation, and performance. Readers
are cautioned not to put undue reliance on forward-looking statements, which
speak only of the date of this communication. Spexis disclaims any intention
or obligation to update and revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
This press release can be downloaded from www.spexisbio.com
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End of Inside Information
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End of Announcement EQS News Service
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1940871 08-Jul-2024 CET/CEST
EnBiotix, Inc.
Spexis AG / Key word(s): Miscellaneous
Spexis AG: PARI Pharma GmbH announces termination of ColiFin® license to
EnBiotix, Inc.
08-Jul-2024 / 07:15 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Ad hoc announcement pursuant to Art. 53 LR
Allschwil, Switzerland, 8 July, 2024
PARI Pharma GmbH announces termination of ColiFin® license to EnBiotix, Inc.
Spexis AG (SIX: SPEX), a clinical-stage biopharmaceutical company focused on
macrocycle therapeutics for rare diseases and oncology, today announced that
PARI Pharma GmbH ("PARI"), the owner of ColiFin®, its combination
drug-device inhaled colistin product, has terminated the license of ColiFin®
to EnBiotix, Inc., the wholly-owned subsidiary to which ColiFin® was
licensed in 2019.
PARI terminated the license pursuant to non-payment of a required license
payment by Enbiotix, Inc. ("Enbiotix") to PARI. The shares and assets of
Enbiotix and Spexis' other wholly-owned subsidiary Spexis Australia Pty Ltd
were both subject to a receivership which SPRIM implemented as part of its
alleged default of certain conditions of loans extended to Spexis, which
Spexis maintains it did not breach.
As a result of this non-payment and resulting license termination, Spexis is
continuing its negotiations with SPRIM regarding debt-restructuring while it
weighs its further business and legal options aimed in the short term to
obtain a definitive moratorium at the upcoming court hearing scheduled for
23 July 2024. In parallel, Spexis will seek to re-in-license ColiFin® from
PARI directly, subject to the Company completing a debt-restructuring with
its creditors and obtaining sufficient additional financing, which the
Company aims to raise in its ongoing and multi-pronged fundraising and
strategic transaction campaign to ultimately exit from moratorium. There can
be no assurance that such efforts will be successful.
Jeff Wager, MD, Chairman & CEO of Spexis, said: "This license termination is
obviously unfortunate in light of present moratorium circumstances, but we
are committed as a Company to fully explore all avenues available to
re-acquire rights to ColiFin®, continue debt-restructuring with our
creditors in the framework of a definitive moratorium in the immediate term
and ultimately exit from moratorium. There is increasing interest in
macrocycles, next-generation alternatives to antibody-drug-conjugates and
also radio-pharmaceuticals, and these are all areas in which Spexis has
proven assets and a unique product pipeline. We will continue to vigorously
market these assets and opportunities as part of its fundraising and
transaction campaign to firstly, obtain a definitive moratorium and then,
continue to seek to exit moratorium and ultimately, to deliver superior
returns to shareholders."
About Spexis
Spexis (SIX: SPEX) is a clinical-stage biopharmaceutical company based in
Allschwil, Switzerland, currently in provisional moratorium focused on
macrocycle therapeutics for rare diseases and oncology. For further
information please visit: www.spexisbio.com.
About Spexis' Macrocycle Platforms
Spexis possesses what we regard as some of the most distinct, highly diverse
and very well characterized macrocycle libraries in the world, together with
deep data on same, developed over the course of more than 25 years of
research and development and significant investment. These include
PEMFinder(TM), which is comprised of peptidomimetic macrocycles, and
MACROFinder(TM), which are small molecule macrocycles. Each have distinct
applications depending on the targets in question, which can be both
extracelluar and intracellular targets. In addition to generating the
specific OMPTA candidates described in this press release, these platforms
have generated multiple other drug candidates in the Spexis pipeline,
including murepavidin, balixafortide, lonodelestat and others.
For further information please contact:
For Investors: Stephen Jasper For Media: Dr. Stephan Feldhaus
Managing Director Gilmartin Feldhaus & Partner +41 79 865 9256
Group (1)stephen@gilmartinir.com (1)feldhaus@feldhaus-partner.ch 1.
1. mailto:feldhaus@feldhaus-partner.ch
mailto:stephen@gilmartinir.com
Disclaimer
This press release contains forward-looking statements which are based on
current assumptions and forecasts of Spexis management. Known and unknown
risks, uncertainties, and other factors could lead to material differences
between the forward-looking statements made here and the actual development,
in particular Spexis' results, financial situation, and performance. Readers
are cautioned not to put undue reliance on forward-looking statements, which
speak only of the date of this communication. Spexis disclaims any intention
or obligation to update and revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
This press release can be downloaded from www.spexisbio.com
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Language: English
Company: Spexis AG
Hegenheimermattweg 125
4123 Allschwil
Switzerland
Phone: +41 61 567 1600
Fax: +41 61 567 1601
E-mail: info@spexisbio.com
Internet: www.spexisbio.com
ISIN: CH0106213793
Valor: SPEX
Listed: SIX Swiss Exchange
EQS News ID: 1940871
End of Announcement EQS News Service
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1940871 08-Jul-2024 CET/CEST
