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WILEX AG, has signed a licensing agreement with IBA (Ion Beam Applications S.A.) for the worldwide marketing, distribution and sales of its diagnostic product candidate REDECTANE(R) (CA9-SCAN)
Munich, Germany | June 6, 2008 | The Munich-based biopharmaceutical company, WILEX AG (ISIN DE0006614720 / Frankfurt Stock Exchange / Prime Standard), has signed a licensing agreement with IBA (Ion Beam Applications S.A.: Reuters IBAB.BR and Bloomberg IBAB.BB / Brussels, Belgium) for the worldwide marketing, distribution and sales of its diagnostic product candidate REDECTANE(R) (CA9-SCAN). The agreement gives IBA the exclusive global rights and licenses required for manufacturing and marketing the product.
According to the agreement, WILEX will manufacture the cold antibody and be responsible for clinical development. IBA will be responsible for manufacturing by labeling the antibody and will be responsible for distribution, sales and marketing of REDECTANE(R). WILEX will receive an upfront payment, milestone payments and certain contributions-in-kind. After the planned market approval, WILEX will get 20% on ex-factory sales until a sales volume of EUR 7 million is reached. After that WILEX will get 45% on total ex-factory sales.
WILEX retains worldwide co-promotion rights and may use these to co-promote REDECTANE(R) to urologists and oncologists. The companies agreed not to disclose any further details of the agreement. IBA and WILEX had already entered into a manufacturing agreement for the ongoing Phase III registration trial in December 2006.
Due to the conclusion of the agreement WILEX revises its guidance. WILEX now assumes that if projects progress according to plan and no additional inflows of capital are generated, current liquidity could suffice until the second calendar quarter of 2009 rather than the previously announced first calendar quarter of 2009.
SOURCE: WILEX AG |
