WILEX and RedHill Biopharma enter into an exclusive license agreement for MESUPRON®
Ad-hoc release pursuant to § 15 Wertpapierhandelsgesetz
(German Securities Trading Act)
| PDF Download
Munich, Germany, 30 June 2014. WILEX AG (ISIN DE0006614720 / WL6 / FSE) and RedHill Biopharma Ltd. (NASDAQ: RDHL; TASE: RDHL), an Israeli biopharmaceutical company focused on late clinical-stage drugs for inflammatory and gastrointestinal diseases, including cancer, today announced that they have signed an exclusive license agreement for the oncology drug candidate MESUPRON®. The small molecule is a proprietary, first-in-class urokinase-type plasminogen activator (uPA) inhibitor administered by oral capsule. Wilex has completed several clinical studies with MESUPRON® in different indications, including two Phase II proof of concept studies for pancreatic cancer and metastatic breast cancer.
Under the terms of the agreement, RedHill acquired the exclusive development and commercialization rights to MESUPRON® outside China, Hong Kong, Taiwan and Macao for all indications. RedHill will pay Wilex an upfront payment of USD 1 million and potential tiered royalties on net revenues, ranging from mid-teens up to 30%. RedHill will be responsible for development, regulatory and commercialization of MESUPRON®.
+++ End of Ad hoc release +++
MESUPRON® (INN: Upamostat) is a proprietary, first-in-class urokinase-type plasminogen activator (uPA) inhibitor administered by oral capsule. The uPA system has been shown to play a key role in tumor cell growth, invasion and the metastasis process. High uPA levels are associated with poor prognosis in various solid tumor cancers, such as pancreatic, gastric, breast and prostate cancers. MESUPRON® presents a promising new non-cytotoxic approach to cancer therapy with several potential mechanisms of action to inhibit both tumor metastasis and growth. MESUPRON® has completed several Phase I studies and two Phase II proof of concept studies, the first Phase II study in locally advanced non-metastatic pancreatic cancer and the second in metastatic breast cancer, which have established its safety and tolerability profile. The Phase II studies with MESUPRON® in both indications suggested activity as measured by both tumor response rate and overall survival of patients when administered in combination with first-line chemotherapeutic agents.
WILEX AG is a biopharmaceutical company based in Munich, Germany. Focused on oncology, the Company develops diagnostic and therapeutic product candidates based on antibodies and small molecules, which are available for out-licensing. The subsidiary Heidelberg Pharma GmbH offers preclinical contract research services and an antibody drug conjugate (ADC) technology platform. Our customers and partners include leading international pharmaceutical companies. WILEX is listed at the Frankfurt Stock Exchange: ISIN DE0006614720 / WKN 661472 / Symbol WL6. More information is available at www.wilex.com
Tel.: +49 (0)89-41 31 38-29
Grillparzerstr. 10, 81675 Munich, Germany
MC Services AG
Katja Arnold (CIRO)
Tel.: +49-89-210 228-40
Mobil: +49 160 9360 3022
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 position, earnings, achievements, or industry results, to be materially different from any future results, earnings 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.