VERAXA Biotech AG acquires Synimmune GmbH to expand cancer pipeline
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Xlife Sciences AG / Key word(s): Mergers & Acquisitions/Takeover Zurich, 29th of December 2023: VERAXA Biotech AG, a pioneering company in the development of superior antibody-based cancer therapies and a portfolio company of Xlife Sciences AG (SIX: XLS), is proud to announce the acquisition of Synimmune GmbH and its innovative Phase I antibody (FLYSYN) for the treatment of Acute Myeloid Leukemia (AML). This marks a major milestone in the company's history and with the expansion of VERAXA’s cancer pipeline it is hope for patients battling AML - one of the most common types of acute leukemia in adults. The FLYSYN antibody was acquired by VERAXA Biotech AG from Xlife Sciences AG portfolio company Synimmune GmbH via a share deal. The deal included an upfront payment as well as several milestones and will reach a total deal value of up to 32 million EUR. With this clinical asset, VERAXA strengthens its internal cancer pipeline of innovative antibodies and antibody-drug conjugates (ADCs). AML, characterized by its prevalence in individuals over the age of 68 and accounting for approximately 1% of all cancer occurrences, has long presented a challenge in the medical community, particularly for those under 45 where it is less common. The successful First-in-Man multicenter clinical study of FLYSYN focused on patients with AML who had measurable residual disease (MRD). The introduction of FLYSYN, is a testament to VERAXA Biotech AG's commitment to advancing healthcare and providing innovative solutions for serious health conditions. Oliver R. Baumann, CEO of Xlife Sciences AG comments: «Securing the innovative Phase I antibody, FLYSYN, for Acute Myeloid Leukemia (AML) treatment marks a significant step forward. This milestone reflects our commitment to advancing healthcare and sets the stage for a promising future in reshaping AML treatment. » Dr. Christoph Antz, CEO of VERAXA Biotech AG, stated: «With FLYSYN, we are one step closer to offering better, more effective treatments for those affected by Acute Myeloid Leukemia. » As we continue to navigate the complexities of AML treatment, VERAXA Biotech AG remains steadfast in its mission to transform the landscape of medical care. For more information about VERAXA Biotech AG and our work in AML treatment, please visit www.veraxa.com.
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| Language: | English |
| Company: | Xlife Sciences AG |
| Talacker 35 | |
| 8001 Zürich | |
| Switzerland | |
| Phone: | +41 44 385 84 60 |
| E-mail: | info@xlifesciences.ch |
| Internet: | www.xlifesciences.ch |
| ISIN: | CH0461929603 |
| Valor: | A2PK6Z |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1806049 |
| End of Announcement | EQS News Service |
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