UCB Takes Further 6.65% In German Oncology Partner Wilex
From M&A Navigator (June 10, 2010)
Belgian biopharmaceutical company UCB (EBR:UCB) said on Thursday it had bought additional 6.65% in German cancer drug maker Wilex (ETR:WL6) and raised its total stake in the company to 18.05%.
The partnership with Wilex benefits UCB’s oncology portfolio, while allowing it to focus on developing its core therapies for the central nervous system and immunology, UCB’s executive vice president, Ismail Kola, said.
Wilex purchased global rights in January 2009 to develop UCB’s oncology portfolio including five oncology projects, with UCB keeping exclusive rights to buy back each of these programmes following completion of clinical feasibility studies and take charge of the final development and sale of the products.
Under the deal, UCB would make commercialisation and royalty payments to Wilex for the programmes it repurchased from it, or receive such payments from Wilex for the programmes that would not repurchase.
Target: Wilex AG
Buyer: UCB SA
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Posted: June 2010