Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

Wilex hands back some cancer drugs as it circles the biotech drain

22/05/2014 by

W1siziisijiwmtqvmtavmjgvmtuvndevmtmvmzg4l2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

Germany’s Wilex is emptying its pockets of drug candidates, giving 5 once-promising cancer treatments back to partner UCB as it pares down to stay alive.

The biotech will relinquish its rights to the mid-stage WX-554 and WX-037 and give back three preclinical antibody therapies, terminating a separate, non-oncology development deal with UCB in the process, Wilex said. The company will get a final undisclosed R&D payment from its soon-to-be-ex-collaborator, and UCB has agreed to waive repayment a €2.5 million ($3.4 million) term loan, sparing the cash-strapped Wilex from further loss.

The hand-off is part of a strategic alignment that saw Wilex cut 80% of its staff in January, kicking off a tiered exit from all clinical activity. The plan is sell off or out-license all of its proprietary assets and focus on its revenue-generating Heidelberg Pharma subsidiary, which provides preclinical CRO services and rents out Wilex’s antibody-drug conjugate technology.

This article has been extracted from http://www.fiercebiotech.com, please click on this link to read the article in full http://www.fiercebiotech.com/story/wilex-hands-back-some-cancer-drugs-it-circles-biotech-drain/2014-05-21

Montash is a multi-award winning, global IT recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Scientific Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdevmtgvmdkvmtqvmzmvmzk5l0vsuc5qcgcixsxbinailcj0ahvtyiisijm4mhgxmdajil1d

Sage bolsters X3 business ERP solution

2017-01-18 09:00:00 +0000

Sage, one of the global leaders in enterprise resource planning (ERP) solutions, has revealed that it has signed up a trio of new clients to its X3 business solution. With the Salesforce.com partner wanting to be able to show its ability to host larger clients, the firm revealed that BrightBridge, Atlas Cloud and CLOUT are all now utilising the new and emerging X3 ERP platform. Sage Vice President of UK Enterprise David Watts talked about the latest agr...

W1siziisijiwmtcvmdevmtcvmtavmzcvmzevmjq2l0nsb3vkighlywx0agnhcmuuanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

Cloud computing making its mark in healthcare

2017-01-17 10:00:00 +0000

The cloud computing sector has grown quickly, and businesses in various sectors have been quick to take advantage of its many benefits to improve services. One such market is the healthcare industry, which has been able to improve diagnosing and enhance treatment methodologies as a result of new technologies over the past decade. Cloud technology is helping one area in particular – the healthcare of people living in remote locations who would not ordina...