Heidelberg Pharma AG: Partner Magenta Therapeutics Exercises Option to Further Develop Antibody Targeted Amanitin Conjugates Targeted to CD45
Heidelberg Pharma AG / Key word(s): Alliance
Ad hoc announcement - Inside information pursuant to Article 17 MAR
Partner Magenta Therapeutics Exercises Option to Further Develop Antibody Targeted Amanitin Conjugates Targeted to CD45
Ladenburg, Germany, 11 November 2019 - Heidelberg Pharma AG (FSE: WL6) today announced that its partner Magenta Therapeutics (NASDAQ: MGTA), Cambridge, MA, USA, (Magenta) today declared that it will exercise the option for the exclusive worldwide development and marketing rights for Antibody Targeted Amanitin Conjugates (ATACs) targeting CD45. Heidelberg Pharma receives an undisclosed milestone payment in return. Under Heidelberg Pharma's collaboration with Magenta, Heidelberg Pharma is entitled to receive development and sales-related milestone payments of USD 85m per selected target. Pending successful completion of the research phase, Magenta may begin developing ATACs that target CD45.
In March 2018, both companies signed an exclusive multi-target research agreement under which Magenta gained access to Heidelberg Pharma's Amanitin toxin-linker platform technology. Magenta may apply Heidelberg Pharma's proprietary ATAC technology to up to four exclusive targets from its antibody portfolio to produce novel ATACs. Magenta exercised its first option for the CD117 target in October 2018.
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Information and Explanation of the Issuer to this News:
About the target molecule
About Heidelberg Pharma
Former clinical assets MESUPRON(R) and REDECTANE(R) were partnered for further development and commercialization. Heidelberg Pharma AG is listed on the Frankfurt Stock Exchange: ISIN DE000A11QVV0 / WKN A11QVV / Symbol WL6. More information is available at www.heidelberg-pharma.com.
About Magenta Therapeutics
This communication contains certain forward-looking statements relating to the Company's business, which can be identified by the use of forward-looking terminology such as 'estimates', 'believes', 'expects', 'may', 'will' 'should' 'future', 'potential' or similar expressions or by a general discussion of the Company's strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results of operations, financial condition, performance, or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward-looking statements to reflect future events or developments.
11-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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