Transgene Completes the Sale of the Greater China Rights of TG6002 and TG1050 to Tasly Biopharmaceuticals for $48 Million in Newly-Issued Shares
STRASBOURG, France--(BUSINESS WIRE)--Aug 20, 2018--Regulatory News:
Transgene (Paris:TNG), a biotech company that designs and develops virus-based immunotherapies against cancers and infectious diseases, today announces the completion of the transactions signed with Tasly Biopharmaceuticals. Co. Ltd. (“Tasly Biopharmaceuticals”) on July 10, 2018. These agreements demonstrate the significant potential of the novel oncolytic virus TG6002 and the chronic hepatitis B therapeutic vaccine TG1050, on which the regional products T601 1 and T101 1 are based. T601 and T101 are now being developed by Tasly Biopharmaceuticals for patients in Greater China 2.
All closing conditions including completion of the administrative transfer of the assets contributed by Transgene to Tasly Biopharmaceuticals have been completed and 27.4 million newly-issued shares of Tasly Biopharmaceuticals valued at $48 million have been delivered to Transgene.
As a result of the transactions, Transgene holds approximately 2.53% of the outstanding capital of Tasly Biopharmaceuticals, which announced its intention to float on the Hong Kong Stock Exchange. Tasly Biopharmaceuticals controls all research, development and commercial rights to T601 and T101 in Greater China.
Transgene continues to develop TG6002 and TG1050 outside of Greater China.
The details of the transactions are described in the press release distributed on July 10, 2018.
Notes to editors
About Transgene Transgene (Euronext: TNG), part of Institut Mérieux, is a publicly traded French biotechnology company focused on designing and developing targeted immunotherapies for the treatment of cancer and infectious diseases. Transgene’s programs utilize viral vector technology with the goal of indirectly or directly killing infected or cancerous cells. The Company’s lead clinical-stage programs are: TG4010, a therapeutic vaccine against non-small cell lung cancer, Pexa-Vec, an oncolytic virus against liver cancer, and TG4001, a therapeutic vaccine against HPV-positive head and neck cancers. The Company has several other programs in clinical development, including TG1050 (a therapeutic vaccine for the treatment of chronic hepatitis B) and TG6002 (an oncolytic virus for the treatment of solid tumors). With its proprietary Invir.IO TM, Transgene builds on its expertise in viral vectors engineering to design a new generation of multifunctional oncolytic viruses. Additional information about Transgene is available at www.transgene.fr.
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Disclaimer This press release contains forward-looking statements, which are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. There can be no guarantee that (i) the results of preclinical work and prior clinical trials will be predictive of the results of the clinical trials currently underway, (ii) regulatory authorities will agree with the Company’s further development plans for its therapies, or (iii) the Company will find development and commercialization partners for its therapies in a timely manner and on satisfactory terms and conditions, if at all. The occurrence of any of these risks could have a significant negative outcome for the Company’s activities, perspectives, financial situation, results and development. For a discussion of risks and uncertainties which could cause the Company’s actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors (“Facteurs de Risques”) section of the Document de Référence, available on the AMF website ( http://www.amf-france.org ) or on Transgene’s website ( www.transgene.fr ). Forward-looking statements speak only as of the date on which they are made, and Transgene undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future.
1T601 and T101 are products developed in China and respectively incorporating Transgene’s TG6002 and TG1050 patented technologies.2Greater China rights cover People’s Republic of China, Taiwan, Hong Kong and Macau.
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PUB: 08/20/2018 12:00 PM/DISC: 08/20/2018 12:01 PM