Copenhagen and Oslo, 11th June, 2011, 2011-06-11 10:27 CEST (GLOBE NEWSWIRE) --
- Rights and obligations under the R&D and Licensing Agreement transferred from NTS Plus to new company IBC Generium
Affitech A/S, (NASDAQ OMX: AFFI), the antibody medicines company, announced today that NauchTeckStroy Plus (NTS Plus) and Affitech A/S have amended their Research & Development and Licensing Agreement signed in 2010. With this amendment the rights and obligations under the R&D and Licensing Agreement will be transferred from NTS Plus to the newly established Russian biotech company, International Biotech Center Generium (IBC Generium) controlled by Aleksandr Shuster and Victor Kharitonin, who through TransNova Investments Ltd. are majority shareholders in Affitech A/S. Aleksandr Shuster is Chairman of Affitech A/S.
About Affitech
Affitech AS is a publicly traded (NASDAQ OMX Copenhagen) human therapeutic antibody company based in Copenhagen, Denmark with R&D facilities in Oslo, Norway. The company utilizes a range of proprietary antibody technologies for the discovery of fully human antibodies for application in oncology, inflammation and other disease areas. CBAS™ (Cell Based Antibody Selection) is Affitech’s premier discovery engine for the isolation of lead antibodies to cell surface molecules. Affitech co-develops its two lead antibody drug candidates AT001/r84 and AT008/CCR4 with Russian partner IBC Generium. Further information is available at www.affitech.com.
About International Biotech Center Generium (IBC Generium) and Nauch TechStroy Plus (NTS Plus)
With reference to the Russian Pharma 2020 plan, which aims to increase national production of innovative therapeutics NauchTechStroy Plus (NTS Plus) was established as a construction company that should build a modern research park in Pocrov/Russia. NTS Plus is controlled by the Russian biotech entrepreneur Aleksandr Shuster and Russia’s leading pharmaceutical company Pharmstandard (LSE/MICEX/RTS: PHST), which is partly owned and chaired by Victor Kharitonin. An important and central activity was to scout for an innovative therapeutic product development portfolio for the new research park. In 2009/2010 Aleksandr Shuster identified Affitech A/S as a collaboration partner and a collaboration agreement was signed successfully in April 2010 between Affitech A/S and NTS Plus as the only legal entity at the time. Having now finalized the construction of the research park the shareholder group decided to separate the construction activities from the research and development activities and established a new company called International Biotechnology Center Generium (IBC Generium). IBC Generium, which is controlled by Aleksandr Shuster and Victor Kharitonin, will drive the science park’s research and development activities. Through TransNova Investments Ltd. owned by Aleksandr Shuster and Victor Kharitonin, the two biotech and drug development entrepreneurs are majority shareholders in Affitech A/S.
Disclaimer
This news release contains forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on results of the financial condition and operations of Affitech A/S. There are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. These factors include, among other things, risks associated with technological development, the risk that research & development will not yield new products that achieve commercial success, the impact of competition, the ability to transact viable and profitable commercial deals, the risk of non-approval of patents not yet granted, and difficulties of obtaining relevant governmental approvals for new products.
No expressed or implied representations or warranties are given concerning Affitech A/S or the accuracy or completeness of the information provided herein, and no claims shall be made by the recipient of this news release by virtue of the information contained herein.
Contact:
Randi Krogsgaard, Director IR & Corporate Communications
Tel # +45 2320 1001, e-mail: ir@affitech.com
