Planegg-Martinsried, Germany (pta007/11.09.2020/07:30) - Maruho and 4SC agree to terminate their development agreement related to 4SC's Kv1.3 inhibitors. 4SC to reacquire all rights to the development program.
- 4SC AG (4SC, FSE Prime Standard: VSC) today announced that 4SC and Maruho decided to discontinue the collaboration for the development of 4SC's Kv1.3 inhibitors. As a consequence of this decision the Exclusive License Agreement dated July 15, 2017 is terminated. All rights licensed to Maruho and all data and material generated during the collaboration will be returned to 4SC and 4SC will be free to pursue all further development opportunities for this class of compounds.
Jason Loveridge, Ph.D., CEO of 4SC, says: "It is always disappointing to come to such a decision, in particular because a good deal of progress has been made in the last three years. 4SC wishes to thank Maruho for this valuable collaboration. Importantly, this decision has no near term financial impact for 4SC, and as we have regained all rights to this valuable program we will now begin to explore new opportunities for future collaboration".
- Press release ends -
4SC AG is a clinical-stage biopharmaceutical company developing small-molecule drugs that can target key indications in cancer with high unmet medical needs. 4SC's pipeline is protected by a comprehensive portfolio of patents and currently comprises two drug candidates in clinical development: resminostat and domatinostat.
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 is headquartered in Planegg-Martinsried near Munich, Germany. The Company had 47 employees as of 30 June 2020 and is listed on the Prime Standard of the Frankfurt Stock Exchange (FSE Prime Standard: VSC; ISIN: DE000A14KL72).
4SC's Kv1.3 inhibitors
Kv1.3 is a voltage-gated ion channel which has diverse functions in various cell types and cellular mechanisms but plays an essential role in the activation and proliferation of T cells, a special type of immune cells. 4SC's inhibitors of the Kv1.3 ion channel are designed to spare "normal" immune cells but to act on chronically stimulated cell populations thus addressing an underlying pathogenic principle in a multitude of autoimmune diseases.
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.
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