4SC receives milestone payment from Immunic
Planegg-Martinsried, Germany, 13 December 2017 – 4SC AG (4SC, FSE Prime Standard: VSC) today announced that it had received a single digit million Euro milestone payment from Immunic AG (Immunic) as part of the agreement concluded in September 2016 to sell 4SC’s non-core immunology portfolio.
“Our strategy, since I started as CEO at 4SC, has been to focus our resources on advancing our core oncology assets – resminostat, 4SC-202 and 4SC-208 – and monetize the remaining assets with partners. We continue to do this effectively and this milestone payment underlines the successful ongoing development of these immunology assets by Immunic,” said Jason Loveridge, CEO of 4SC.
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About 4SC
4SC AG is a clinical-stage biopharmaceutical company developing small-molecule drugs that can target key indications in cancer with high unmet medical needs. Such drugs are intended to provide patients with innovative treatment options that are more tolerable and efficacious than existing therapies and provide a better quality of life. 4SC’s pipeline is protected by a comprehensive portfolio of patents and currently comprises three key drug candidates in various stages of preclinical and clinical development: resminostat, 4SC-202 and 4SC-208.
4SC aims to generate future growth and enhance its enterprise value by entering into partnerships with pharmaceutical and biotech companies and/or the eventual marketing and sales of approved drugs in select territories by 4SC itself. 4SC had 47 employees as of 30 September 2017 and is listed on the Prime Standard of the Frankfurt Stock Exchange (FSE Prime Standard: VSC; ISIN: DE000A14KL72).
About Immunic
Immunic (www.immunic-therapeutics.com) is the specialist for selective oral drugs in immunology. As a clinical stage company, Immunic delivers clinical proof-of-concept for best-in-class therapies of Th1 and Th17 mediated chronic inflammatory diseases. The company’s two development programs include orally available, small molecule inhibitors of DHODH (IMU-838 program) and inverse agonists of RORγt (IMU-366 program) relevant to diseases such as ulcerative colitis, Crohn’s disease and psoriasis. The final aim is to develop these oral drug candidates to clinical proof of concept. The company was founded in 2016 with headquarters in Planegg-Martinsried near Munich, Germany, and is privately held and supported by several renowned sector investors.
Forward-looking information
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.