Cell Medica acquires Delenex Therapeutics AG

Posted: 12th July 2016 08:02

Imperial Innovations Group plc notes today's announcement by portfolio company Cell Medica of its acquisition of Delenex Therapeutics AG ('Delenex') based in Schlieren, Switzerland.

Cell Medica is a cellular immunotherapy company, focused on the development, manufacture and marketing of cell-based therapeutics for the treatment of cancers and infectious disease. As at 31 January 2016, the Group had a 27.0% interest in the issued share capital of the Company with such interest having a net fair value of £21.0 million.

Delenex is a privately held, clinical stage biopharmaceutical company focused on the development of locally and systemically applied antibody therapeutics. Delenex's proprietary PENTRA®Body technology, which enables the rapid development of antibody therapeutics suitable for various routes of administration, will be integrated within the Company's development programme to create next-generation cellular immunotherapies with improved functionality and specificity. 

Delenex's scientific team and the company's Schlieren laboratory facilities will be maintained within Cell Medica's global R&D operations.

The terms of the transaction have not been disclosed.

The acquisition of Delenex follows Cell Medica's recent announcement of a significant collaboration with Baylor College of Medicine for the development of chimeric antigen receptor (CAR)-based cellular immunotherapies. 

Russ Cummings, CEO at Imperial Innovations, said:

"This acquisition, which is a major step forward for the business, combined with the recent collaboration with Baylor College of Medicine, serves to highlight the scale of Cell Medica's ambition. 

"Delenex Therapeutics provides a key enabling technology to help develop a pipeline of next generation CAR-modified immunotherapies.  

"The management team, with its operations in the UK, US, Germany and Switzerland, has now built a strong platform from which to deliver the strategic plans to become a world-leader in cell therapy."

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