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03.07.2024 08:30:40 - dpa-AFX: EQS-News: Pentixapharm Acquires Target Discovery Business of Glycotope (english)
Pentixapharm Acquires Target Discovery Business of Glycotope
EQS-News: Pentixapharm AG / Key word(s): Takeover
Pentixapharm Acquires Target Discovery Business of Glycotope
03.07.2024 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Pentixapharm Acquires Target Discovery Business of Glycotope
Würzburg and Berlin, Germany, 3 July 2024 - Pentixapharm AG, a
clinical-stage biotech company discovering and developing novel targeted
radiopharmaceuticals against a range of malignancies, has announced the
execution of an agreement, effective July 1st, to acquire the target
discovery business of Berlin-based Glycotope GmbH.
The deal encompasses a portfolio of preclinical antibodies against multiple
oncology targets that can be developed into radiopharmaceuticals. It also
includes Glycotope's laboratories, cell banks, tumor target data base, and
the equipment needed to exploit the discovery platform, along with a range
of patents, licenses, and other tangible assets. In total, Pentixapharm will
be able to add an integrated team of 40 seasoned executives, R&D
specialists, and administrators to its staff.
"The acquisition will broaden Pentixapharm's Intellectual Property portfolio
beyond the one built around the CXCR4 receptor. This will immediately double
the development pipeline and significantly expand the associated business
and clinical development opportunities," explained Hakim Bouterfa, CEO of
Pentixapharm AG. "Glycotope's pipeline comprises several candidates that can
be used immediately for proof-of-concept studies as next generation
radiopharmaceuticals. We look forward to maximizing the synergy of
Pentixapharm's know-how and Glycotope's target discovery for the benefit of
patients in both diagnostics and therapeutic applications."
"The transaction provides Pentixapharm not just with a chance to build a
clinical pipeline beyond the company's current CXCR4-ligand based programs,
but also substantially strengthens its administrative and managerial
capacities," noted Andreas Eckert, Chairman of the Supervisory Board of both
Pentixapharm and mother company Eckert & Ziegler SE (EZAG). "It adds a
critical number of talents to the planned secession of Pentixapharm to
Frankfurt Stock Exchange, thereby facilitating a seamless separation from
EZAG. The offices and laboratories included in the deal are large enough to
allow a consolidation of all Berlin-based activities into one location."
The transaction will also affect the composition of the Pentixapharm
Management Board once the company becomes listed on the Frankfurt Stock
Exchange. Hakim Bouterfa, current CEO of Pentixapharm, is designated to move
to the Company's Supervisory Board. He will be succeeded by Dirk Pleimes,
currently Pentixapharm's Chief Medical Officer. Patrik Kehler, former Chief
Scientific Officer (CSO) of Glycotope, will assume the CSO position at
Pentixapharm, while Glycotope's former CEO, Henner Kollenberg, will take
over the responsibility for administrative and business development issues
as Chief Business Officer.
Patrik Kehler, newly appointed Chief Scientific Officer of Pentixapharm,
explained: "The target discovery unit's development activities focus on
tumor-associated carbohydrate structures, so-called GlycoTargets. Their
major advantage is the reduced normal tissue binding compared to
conventional antibodies. Based on their superior tumor-specificity, they are
suitable for development in an array of different modes of action. In the
radiopharmaceuticals field, they have the potential to close the treatment
gap that exists for the majority of solid tumors."
About the Glycotope Target Discovery Unit
The target discovery unit utilizes a proprietary technology platform to
develop uniquely tumor-specific monoclonal antibodies or fragments thereof.
They target specific tumor-associated carbohydrate structures or
protein/carbohydrate combined glycoepitopes (GlycoTargets). The unit has to
date discovered in excess of 200 GlycoTargets ( www.glycotope.com). Many of
these have been outlicensed to major pharmaceutical companies around the
world, where they are currently in pre-clinical and clinical development.
About Pentixapharm AG
Pentixapharm is a radiopharmaceutical development company founded in 2019
with its headquarters in Würzburg, Germany. It is currently wholly owned by
the Eckert & Ziegler Group but bound to be spun-off to the Frankfort Stock
Exchange soon. Pentixapharm is committed to developing CXCR4 ligand-based
first-in-class radiopharmaceutical approaches with a clear commercial
pathway for diagnostic and therapeutic programs in a number of hematological
and solid cancers, as well as cardiovascular, endocrine and inflammatory
diseases.
Pentixapharm's clinical pipeline encompasses PENTIXATHER, am Yttrium-90
based therapeutic against CNS lymphoma, and PENTIXAFOR, a Gallium-68 based
companion diagnostic. Clinical studies for both compounds have already
commenced in Europe, with a dose-finding study for PENTIXATHER and a Phase
III registration study for PENTIXAFOR. Additionally, PENTIXAFOR is being
developed as a diagnostic tool for primary aldosteronism (PA), a significant
cause of hypertension. Pentixapharm is currently preparing a US centric
Phase III registration study in PA that will start in 2025.
For more information, please contact:
Eckert & Ziegler SE
Karolin Riehle, Investor Relations
Robert-Rössle-Str. 10,
13125 Berlin, Germany
Tel.: +49 30 / 94 10 84-138
karolin.riehle@ezag.de, www.ezag.com
Pentixapharm AG
Phillip Eckert, Investor Relations
phillip.eckert@pentixapharm.com
Tel. +49 30 94 10 84 227
www.pentixapharm.com
Media Contact:
MC Services AG
Anne Hennecke
Tel. +49 211 529252 22
anne.hennecke@mc-services.eu
---------------------------------------------------------------------------
03.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
1938267 03.07.2024 CET/CEST
EQS-News: Pentixapharm AG / Key word(s): Takeover
Pentixapharm Acquires Target Discovery Business of Glycotope
03.07.2024 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Pentixapharm Acquires Target Discovery Business of Glycotope
Würzburg and Berlin, Germany, 3 July 2024 - Pentixapharm AG, a
clinical-stage biotech company discovering and developing novel targeted
radiopharmaceuticals against a range of malignancies, has announced the
execution of an agreement, effective July 1st, to acquire the target
discovery business of Berlin-based Glycotope GmbH.
The deal encompasses a portfolio of preclinical antibodies against multiple
oncology targets that can be developed into radiopharmaceuticals. It also
includes Glycotope's laboratories, cell banks, tumor target data base, and
the equipment needed to exploit the discovery platform, along with a range
of patents, licenses, and other tangible assets. In total, Pentixapharm will
be able to add an integrated team of 40 seasoned executives, R&D
specialists, and administrators to its staff.
"The acquisition will broaden Pentixapharm's Intellectual Property portfolio
beyond the one built around the CXCR4 receptor. This will immediately double
the development pipeline and significantly expand the associated business
and clinical development opportunities," explained Hakim Bouterfa, CEO of
Pentixapharm AG. "Glycotope's pipeline comprises several candidates that can
be used immediately for proof-of-concept studies as next generation
radiopharmaceuticals. We look forward to maximizing the synergy of
Pentixapharm's know-how and Glycotope's target discovery for the benefit of
patients in both diagnostics and therapeutic applications."
"The transaction provides Pentixapharm not just with a chance to build a
clinical pipeline beyond the company's current CXCR4-ligand based programs,
but also substantially strengthens its administrative and managerial
capacities," noted Andreas Eckert, Chairman of the Supervisory Board of both
Pentixapharm and mother company Eckert & Ziegler SE (EZAG). "It adds a
critical number of talents to the planned secession of Pentixapharm to
Frankfurt Stock Exchange, thereby facilitating a seamless separation from
EZAG. The offices and laboratories included in the deal are large enough to
allow a consolidation of all Berlin-based activities into one location."
The transaction will also affect the composition of the Pentixapharm
Management Board once the company becomes listed on the Frankfurt Stock
Exchange. Hakim Bouterfa, current CEO of Pentixapharm, is designated to move
to the Company's Supervisory Board. He will be succeeded by Dirk Pleimes,
currently Pentixapharm's Chief Medical Officer. Patrik Kehler, former Chief
Scientific Officer (CSO) of Glycotope, will assume the CSO position at
Pentixapharm, while Glycotope's former CEO, Henner Kollenberg, will take
over the responsibility for administrative and business development issues
as Chief Business Officer.
Patrik Kehler, newly appointed Chief Scientific Officer of Pentixapharm,
explained: "The target discovery unit's development activities focus on
tumor-associated carbohydrate structures, so-called GlycoTargets. Their
major advantage is the reduced normal tissue binding compared to
conventional antibodies. Based on their superior tumor-specificity, they are
suitable for development in an array of different modes of action. In the
radiopharmaceuticals field, they have the potential to close the treatment
gap that exists for the majority of solid tumors."
About the Glycotope Target Discovery Unit
The target discovery unit utilizes a proprietary technology platform to
develop uniquely tumor-specific monoclonal antibodies or fragments thereof.
They target specific tumor-associated carbohydrate structures or
protein/carbohydrate combined glycoepitopes (GlycoTargets). The unit has to
date discovered in excess of 200 GlycoTargets ( www.glycotope.com). Many of
these have been outlicensed to major pharmaceutical companies around the
world, where they are currently in pre-clinical and clinical development.
About Pentixapharm AG
Pentixapharm is a radiopharmaceutical development company founded in 2019
with its headquarters in Würzburg, Germany. It is currently wholly owned by
the Eckert & Ziegler Group but bound to be spun-off to the Frankfort Stock
Exchange soon. Pentixapharm is committed to developing CXCR4 ligand-based
first-in-class radiopharmaceutical approaches with a clear commercial
pathway for diagnostic and therapeutic programs in a number of hematological
and solid cancers, as well as cardiovascular, endocrine and inflammatory
diseases.
Pentixapharm's clinical pipeline encompasses PENTIXATHER, am Yttrium-90
based therapeutic against CNS lymphoma, and PENTIXAFOR, a Gallium-68 based
companion diagnostic. Clinical studies for both compounds have already
commenced in Europe, with a dose-finding study for PENTIXATHER and a Phase
III registration study for PENTIXAFOR. Additionally, PENTIXAFOR is being
developed as a diagnostic tool for primary aldosteronism (PA), a significant
cause of hypertension. Pentixapharm is currently preparing a US centric
Phase III registration study in PA that will start in 2025.
For more information, please contact:
Eckert & Ziegler SE
Karolin Riehle, Investor Relations
Robert-Rössle-Str. 10,
13125 Berlin, Germany
Tel.: +49 30 / 94 10 84-138
karolin.riehle@ezag.de, www.ezag.com
Pentixapharm AG
Phillip Eckert, Investor Relations
phillip.eckert@pentixapharm.com
Tel. +49 30 94 10 84 227
www.pentixapharm.com
Media Contact:
MC Services AG
Anne Hennecke
Tel. +49 211 529252 22
anne.hennecke@mc-services.eu
---------------------------------------------------------------------------
03.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
1938267 03.07.2024 CET/CEST
