Biotest AG: ImmunoGen has elected not to exercise its late stage co-development option for the US-Market with Biotest's antibody-drug conjugate
ImmunoGen has elected not to exercise its late stage co-development option for the US-Market with Biotest's antibody-drug conjugate (BT-062)
- License agreement with ImmunoGen will continue
Dreieich, 24 March 2017. Since 2006 a collaboration and licensing agreement between Biotest and ImmunoGen, Inc., MA (USA) (ImmunoGen) is in place for the use of ImmunoGen's antibody-drug conjugate (ADC) linker and payload technology used with Biotest's development-stage compound Indatuximab Ravtansine (BT-062).
ImmunoGen notified Biotest that they have elected not to exercise a late stage co-development option provided for in the cooperation agreement. For a payment of USD 15 million, ImmunoGen would have opted in to share half of the development and marketing of Indatuximab Ravtansine (BT-062) in the US market. The license agreement with ImmunoGen regarding the use of its linker and payload technology continues unchanged.
The Phase I/IIa study (Study 983) is investigating Indatuximab Ravtansine (BT-062) in combination with lenalidomide or pomalidomide and dexamethasone in patients with multiple myeloma who have not been responding (any more) to previous treatments. Multiple myeloma is a malignant hematologic disease and despite new treatment options patients very often relapse. Biotest presented new clinical data derived from an ongoing combination study with BT-062 in December 2016 at the annual meeting of the American Society of Hematology (ASH). A phase I/II study (study 989) with Indatuximab Ravtansine (BT-062) for the treatment of solid tumors (breast cancer and bladder cancer) is currently being evaluated.
About Indatuximab Ravtansine (BT-062) Indatuximab Ravtansine (BT-062) is an antibody-drug conjugate (ADC) consisting of a monoclonal antibody and a highly potent cytotoxic maytansine derivative (DM4) using the ADC technology developed by ImmunoGen, Inc. The antibody binds specifically to the antigen CD138, which is over-expressed on multiple myeloma cells and a variety of solid tumors. Once the conjugate is internalized into the target cell, the DM4 is released from the targeting molecule, thereby releasing it in its fully-potent state. This combination of high efficacy and specificity with low systemic toxicity sets BT-062 apart from most therapies currently used to treat multiple myeloma.
About Biotest Biotest is a provider of plasma proteins and biological drugs. With a value added chain that extends from pre-clinical and clinical development to worldwide sales, Biotest has specialised primarily in the areas of clinical immunology, haematology and intensive medicine. Biotest develops and markets immunoglobulins, coagulation factors and albumins based on human blood plasma. These are used for diseases of the immune and haematopoietic systems. In addition Biotest develops monoclonal antibodies in the indications of cancer of plasma cells and systemic lupus erythematosus which are produced by recombinant technologies. Biotest has more than 2,500 employees worldwide. The preference shares of Biotest AG are listed in the SDAX on the Frankfurt stock exchange.
IR contact Dr. Monika Buttkereit phone: +49-6103-801-4406 email: firstname.lastname@example.orgPR contact Dirk Neumüller phone: +49-6103-801-269 email: email@example.com Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany, www.biotest.com
Ordinary shares: securities' ID No. 522720; ISIN DE0005227201 Preference shares: securities' ID No. 522723; ISIN DE0005227235 Listing: Prime Standard Open Market: Berlin-Bremen, Düsseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart
Disclaimer This document contains forward-looking statements on overall economic development as well as on the business, earnings, financial and assets position of Biotest AG and its subsidiaries. These statements are based on current plans, estimates, forecasts and expectations of the company and are thus subject to risks and elements of uncertainty that could result in significant deviation of actual developments from expected developments. The forward-looking statements are only valid at the time of publication. Biotest does not intend to update the forward-looking statements and assumes no obligation to do so.
24.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: Biotest AG Landsteinerstraße 5 63303 Dreieich
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