Amgen acquires Medigene spin-off Catherex
Medigene AG announced that Amgen Inc., USA, will acquire 100% of Catherex, Inc., USA, a spin-off of Medigene. As a main shareholder of Catherex, Medigene Inc., USA, is entitled to approximately 40% of payments to be made by Amgen. The Company was informed about the execution of the corresponding purchase agreement by Catherex, Amgen and the shareholders of Catherex. Medigene Inc., USA, is a 100% subsidiary of Medigene AG.
The former shareholders of Catherex will receive an upfront payment of USD 10.5 million from Amgen and will be entitled to milestone payments upon achievement of certain regulatory and sales-based milestones for Amgen's drug Imlygic® (formerly T-Vec). In addition, royalty payments on the sale of Imlygic® will be made until the end of 2020. Amgen's drug Imlygic® was approved for the treatment of advanced, metastatic melanoma in the USA in October 2015 and recently in the European Union.
Closing of the transaction is envisaged to take place early 2016. Therefore, there is no impact on Medigene's financial guidance for 2015.
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