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4SC licenses Kv1.3 inhibitors to MaruhoMartinsried, )
Maruho to receive exclusive worldwide license on 4SC's preclinical inhibitors of the Kv1.3 ion channel
4SC eligible for upfront and milestone payments totaling up to EUR 103 million, plus commercial milestones totaling up to an additional EUR 105 million and single-digit royalties on commercial sales
Planegg-Martinsried, Germany, 18 July 2017 - 4SC AG (4SC, FSE Prime Standard: VSC) granted an exclusive worldwide license to Maruho Co., Ltd. (Maruho) on a preclinical compound class inhibiting the ion channel Kv1.3. Under the licensing agreement, 4SC will be eligible to receive upfront and milestone payments totaling up to EUR 103 million, plus commercial milestones totaling up to an additional EUR 105 million and single-digit royalties on commercial sales.
4SC's Kv1.3 inhibitors
Kv1.3 is a voltage-gated ion channel which has diverse functions in various cell types and cellular mechanisms but plays an essential role in the activation and proliferation of T cells, a special type of immune cells. 4SC's inhibitors of the Kv1.3 ion channel are designed to spare "normal" immune cells but to act on chronically stimulated cell populations thus addressing an underlying pathogenic principle in a multitude of autoimmune diseases.
Jason Loveridge, Ph.D., CEO of 4SC: "Our main goal over the next 3 years is to create significant value for our shareholders by executing on accelerated routes to market for our core cancer products: resminostat, 4SC-202 and 4SC-208. In line with our strategy we are very pleased to out-license our non-core program of Kv1.3 inhibitors to Maruho, a world leading company in the dermatology arena. We believe Maruho is an excellent partner for this program and are confident in their expertise, commitment and long-standing experience in clinical development to successfully advance the Kv1.3 project in a timely fashion. Revenues from this license agreement are in addition to funds recently secured in our successful capital increase."
Summit Pharmaceuticals International, a subsidiary of Sumitomo Corporation, served as advisor to 4SC in connection with this transaction.
- Press release ends -
6 July 2017, 4SC AG secures EUR 41 million from successful capital increase
16 May 2017, 4SC AG announces updated and progressive development program
31 May 2016, 4SC enters into licensing and development partnership with Link Health for the cancer compound 4SC 205 in China
About Maruho Co., Ltd.
Maruho has its headquarters in Osaka and leads Japan in research and development, manufacturing and commercialization of dermatological products. Founded in 1915, Maruho has 1,398 employees (as of the end of September 2016), and net sales were approximately 70.1 billion yen in its 2016 fiscal year. Pursuing its long-term corporate vision of "Excellence in Dermatology," Maruho is striving to improve the health and quality of life of people all over the world.
For more information, please visit www.maruho.co.jp/english.
Information set forth in this press release contains forward-looking statements, which involve risks and uncertainties. The forward-looking statements contained herein represent the judgement of 4SC as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond 4SC's control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. 4SC expressly disclaims any obligation or undertaking to release any updates or revisions to any such statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
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