MediGene divests Oncolytic Herpes Simplex Viruses programme to Catherex

Published: 13-Apr-2010

MediGene to receive 40% stake in Catherex


MediGene, Inc., a wholly owned subsidiary of German biotech company MediGene AG has assigned its development programme of oncolytic herpes simplex viruses (oHSV), to US-based Catherex.

MediGene receives a 40% stake in Catherex, making it the main shareholder of this newly founded company. In addition, should the NV1020 project be further developed by Catherex, MediGene would be entitled to further stock options or a one-off payment. Furthermore, should Catherex grant licenses for defined rights within the oHSV program to certain third parties, MediGene would be eligible to receive further payments.

MediGene has been developing oncolytic viruses for the treatment of various types of cancer, generating promising results in clinical trials in cancer patients. By out-licensing this programme, the company continues its strategic refocusing to concentrate increasingly on the field of oncology with a near-term emphasis on EndoTAG.

‘We are delighted to know that the promising oHSV programme is in good hands. As the main shareholder of Catherex, we fully support the company on its future road, and we will be able to directly participate in the success of its development,’ said Dr Uwe Michaelis, vice president, project leader strategic investments of MediGene. ‘At the same time, licensing of this programme represents an important step towards MediGene's focusing on our core activities.’

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