* WILEX makes good progress in developing UCB's oncology portfolio
* UCB's position as a strategic investor now represents 18% of WILEX shares
Brussels (Belgium), 10 June 2010 - regulated information - UCB today announced
that UCB has increased its shareholding in WILEX AG, Munich, Germany, a company
specialising in the development of drugs and diagnostic agents for cancer, to
approximately 18%.
UCB has acquired an additional 6.65% of shares in WILEX which increases its
total holding to 18.05%. The five oncology projects which WILEX acquired from
UCB in early 2009 are making good progress with one project, the MEK inhibitor
WX554, now in clinical development Phase I.
"WILEX is the ideal strategic partner to develop UCB's oncology portfolio," said
Dr Ismail Kola, Executive Vice-President UCB and President UCB NewMedicines(TM).
"This alliance gives UCB the opportunity to focus its own R&D activities on its
core therapy areas, diseases of the central nervous system and immunology, while
benefiting from WILEX's specialised expertise, focus and know-how in oncology."
In January 2009, WILEX acquired world-wide rights to develop UCB's entire
preclinical oncology portfolio, comprising two small-molecule programmes and
three antibody programmes. Towards the end of 2009, one project (the MEK
inhibitor, WX554) moved to clinical Phase I. Under the agreement UCB retained
exclusive rights to re-purchase each of the five programmes following completion
of initial clinical feasibility studies for each programme and to assume
responsibility for final development and commercialisation of each product. In
this case, WILEX would receive development and commercialisation milestone
payments and royalty payments from UCB. Alternatively, if UCB does not exercise
its re-purchase right for each programme, WILEX would retain rights to develop
and commercialise each programme and UCB would then receive milestone and
royalty payments from WILEX.
For further information
Antje Witte, Investor Relations UCB
T +32.2.559.9414,antje.witte@ucb.com <mailto:antje.witte@ucb.com>
Richard Simpson, Investor Relations, UCB
T+32.2.559.9494,richard.simpson@ucb.com <mailto:richard.simpson@ucb.com>
Michael Tuck-Sherman, Investor Relations, UCB
T +32.2.559.9712,michael.tuck-sherman@ucb.com
<mailto:michael.tuck-sherman@ucb.com>
Nancy Nackaerts, External Communications, UCB
T +32.473.864.414 or +32.2.559.92.64,nancy.nackaerts@ucb.com
<mailto:nancy.nackaerts@ucb.com>
About UCB
UCB, Brussels, Belgium (www.ucb.com <
http://www.ucb.com/>) is a
biopharmaceutical company dedicated to the research, development and
commercialization of innovative medicines with a focus on the fields of central
nervous system and immunology disorders. Employing more than 9 000 people in
over 40 countries, UCB produced revenue of EUR 3.1 billion in 2009. UCB is
listed on Euronext Brussels (symbol: UCB).
Forward looking statement
This press release contains forward-looking statements based on current plans,
estimates and beliefs of management. Such statements are subject to risks and
uncertainties that may cause actual results to be materially different from
those that may be implied by such forward-looking statements contained in this
press release. Important factors that could result in such differences include:
changes in general economic, business and competitive conditions, effects of
future judicial decisions, changes in regulation, exchange rate fluctuations and
hiring and retention of its employees.
[HUG#1422844]
Press Release (PDF):
http://hugin.info/133973/R/1422844/371865.pdf