STRASBOURG, France--(BUSINESS WIRE)--Regulatory News:
Transgene SA (Paris:TNG), a biopharmaceutical company that develops immunotherapy products to treat major unmet medical needs in cancer and chronic infectious diseases, today announces that its affiliate Platine Pharma Services SAS (Platine), specialized in providing immune-monitoring services (quantitative measurement of immune response to products that stimulate the immune system) is acquiring immuno-monitoring activities of Indicia Biotechnology.
The acquired activities are the development of immunoassays as well as the proprietary platform Immunoline™ dedicated to the immunogenicity risk assessment of biologicals.
This transaction will be a contribution in kind whereby Indicia Biotechnology will dispose of the aforementioned assets to Platine in exchange for new shares in the capital of the latter. It will be submitted to the shareholders’ approval of both companies on July 31, 2013.
“Transgene is delighted to support this transaction which will allow Platine to accelerate its development through access to new businesses and new clients” stated Stephane Boissel, Executive VP of Transgene and Director of the Board of Platine. He added: “Transgene does not intend to remain a major shareholder of Platine since its business model, which is centered on services, is far from our own. Providing Platine with an opportunity to grow its business whilst diluting our shareholding is therefore totally in line with Transgene’s strategic intent”.
Transgene (NYSE-Euronext: TNG), a member of the Institut Mérieux Group, is a biopharmaceutical company. We create, develop and manufacture targeted immunotherapeutics for the treatment of cancers and infectious diseases. Our products are major technological breakthroughs that use well tolerated viruses to indirectly or directly kill infected or cancerous cells. Our four most advanced products have generated proof of concept data in randomized clinical studies: in lung cancer (TG4010), liver cancer (Pexa-Vec), hepatitis C (TG4040) and HPV-related cervical lesions (TG4001). We have concluded strategic agreements for the development of three of these products: an option agreement with Novartis for the development of TG4010, an in-licensing agreement with US-based Jennerex, Inc. to develop and market Pexa-Vec and a strategic collaboration with EORTC to develop TG4001 in cancer of the oropharynx. We also have a non-exclusive agreement with Sanofi/Genzyme for the future commercial production of our products. Most of our 280 employees are based in Strasbourg, France, and we have operations in Lyon, China and the USA. Additional information about Transgene is available at www.transgene.fr.
Transgene Forward Looking Statements:
This press release contains forward-looking statements notably referring to the development of Pexa-Vec as a treatment against certain cancers. Such anticipated development is based on the results obtained thus far in clinical trials. These results are not necessarily predictive of the results that we may obtain in ongoing or future clinical testing. We could never be able to develop, manufacture or sell Pexa-Vec in the future. For further information on the risks and uncertainties involved in the testing and development of Transgene’s product candidates, see Transgene’s Document de Référence on file with the French Autorité des marchés financiers on its website at http://www.amf-france.org and on Transgene’s website at www.transgene.fr.
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