UCB waives repayment of shareholder loan to WILEX
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Munich, 18 September 2014 – WILEX AG (ISIN DE000A11QVV0 / WL6 / FSE) today announced that the shareholder UCB Pharma S.A. waived its claim for repayment of the shareholder loan to WILEX in the amount of 2.5 million Euro as well as interest of 100,000 Euro accrued in 2014.
In accordance with the termination of the collaboration in May 2014, a precondition was the transfer to UCB of the product candidates (a MEK and a PI3K inhibitor as well as three early stage antibody programmes) including all received rights thereto, development data and documentation as well as intellectual property. The declaration of the waiver with effective date 30 August 2014 was mutually signed and accepted.
Dr Jan Schmidt-Brand, CEO and CFO of WILEX AG, commented: “The waiver is an important step for us to offset the associated financial risk. Amongst the cost reduction measurements initiated in January and ongoing partnering activities, this is a significant milestone for this year.”
WILEX AG is a biopharmaceutical company based in Munich, Germany. Focused on oncology, the Company’s portfolio includes diagnostic and therapeutic product candidates for the specific detection and targeted treatment of various types of cancer based on antibodies. Our aim is out-licensing these clinical projects. The Wilex subsidiary Heidelberg Pharma GmbH in Ladenburg, Germany, offers preclinical contract research services and an antibody drug conjugate (ADC) technology platform. More information is available at www.wilex.com.
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