Disclosure of inside information according to Article 17 MAR.
31 March 2021 | 14:50 hrs CET/CEST
4SC AG and Immunic Sign Agreement Regarding the Settlement of Royalty Obligations for Immunic’s Lead Program, IMU-838
Planegg-Martinsried, Germany, 31 March 2021 – 4SC AG (FSE Prime Standard: VSC), and Immunic, Inc. (Nasdaq: IMUX), a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases, today announced the signing of an agreement under which Immunic will settle its remaining obligation of a 4.4% royalty on net sales of selective oral DHODH inhibitor, IMU-838, for $17.25 million. The transaction will be payable 50% in cash and 50% in shares of Immunic’s common stock.
Immunic acquired lead program IMU-838 in September 2016 from 4SC AG through an asset acquisition, in exchange for a one-time upfront cash payment, future milestone payments and a royalty on net sales for a certain period. With completion of this transaction, no further payment obligations remain between 4SC and Immunic.
Information and Explanation of the Issuer to this News:
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.