Heidelberg Pharma announces receipt of non-refundable upfront cash payment following the successful closing of its royalty purchase agreement with HealthCare Royalty

EQS-News: Heidelberg Pharma AG / Key word(s): Financing
Heidelberg Pharma announces receipt of non-refundable upfront cash payment following the successful closing of its royalty purchase agreement with HealthCare Royalty
19.03.2024 / 09:47 CET/CEST
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

Heidelberg Pharma announces receipt of non-refundable upfront cash payment following the successful closing of its royalty purchase agreement with HealthCare Royalty

Ladenburg, Germany, 19 March 2024 – Heidelberg Pharma AG (FSE: HPHA), a clinical stage biotech company developing innovative Antibody Drug Conjugates (ADCs), today announced the formal closing of the royalty purchase agreement with HealthCare Royalty (HCRx) for Zircaix^®, signed earlier this month.

Under the terms of the agreement, Heidelberg Pharma has received an upfront, non-refundable cash payment of USD 25 million and is furthermore eligible to receive up to USD 90 million in total from the partial sale of its future royalties on the worldwide sales of Zircaix^® (TLX250-CDx, ⁸⁹Zr-DFO-girentuximab), a radiopharmaceutical Positron Emission Tomography (PET) imaging agent for the diagnosis and management of clear cell carcinomas. Heidelberg Pharma developed the antibody as therapeutic and diagnostic agent up to a first completed Phase III clinical trial prior to licensing it to Telix Pharmaceuticals Limited (Telix), an Australian-headquartered company based in Melbourne, in 2017 for further development. Telix submitted the Biologics License Application submission for Zircaix^® in December 2023.

Heidelberg Pharma will utilize this funding to further advance its proprietary toolbox of novel payloads and first-in-class Amanitin-based Antibody Conjugate pipeline, including lead candidate HDP-101 which is currently progressing in a Phase I/IIa study for the treatment of multiple myeloma.

Dr. George Badescu, Chief Business Officer at Heidelberg Pharma, said: “The funding from the royalty purchase agreement with HealthCare Royalty is enabling us to further advance Heidelberg Pharma’s leading expertise in the field of ADC research and development. The upfront payment strengthens the Company’s liquidity, and along with future anticipated payments, should extend our cash runway. The funds will be used to advance the expansion of our ADC pipeline including our preclinical projects HDP-102, HDP-103 and HDP-201.”

About Heidelberg Pharma
Heidelberg Pharma is an oncology specialist and the first company to develop the toxin Amanitin into cancer therapies using its proprietary ATAC technology and to advance the biological mode of action of the toxin as a novel therapeutic principle. The proprietary technology platform is being applied to develop the company’s own therapeutic ATACs as well as in third-party collaborations.

The proprietary lead candidate HDP-101 is a BCMA-ATAC in clinical development for multiple myeloma. Further ATAC candidates are being developed against different targets such as CD37, PSMA or GCC each in the indications non-Hodgkin's lymphoma, metastatic castration-resistant prostate cancer or gastrointestinal tumors such as colorectal cancer.

Heidelberg Pharma AG is based in Ladenburg, Germany, and is listed on the Frankfurt Stock Exchange: ISIN DE000A11QVV0 / WKN A11QVV / Symbol HPHA. More information is available at www.heidelberg-pharma.com.

ATAC^® is a registered trademark of Heidelberg Pharma Research GmbH in the EU and the USA.

This communication contains certain forward-looking statements relating to the Company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "will" "should" "future", "potential" or similar expressions or by a general discussion of the Company's strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results of operations, financial condition, performance, or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward-looking statements to reflect future events or developments.

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