4SC AG has announced the sale of the operations of its subsidiary 4SC Discovery GmbH (4SC Discovery) to newly incorporated BioNTech Small Molecules GmbH (BioNTech Small Molecules). The sale comprises all key operating assets.
BioNTech Small Molecules is a wholly owned subsidiary of Mainz, Germany-based BioNTech AG (BioNTech). The purchase price for the assets to be transferred with immediate effect amounts to €650,000. In addition and without financial compensation, 4SC will be granted the right to temporarily utilize research services provided by BioNTech Small Molecules worth a person year.
As of 1 May 2016, all 22 employees of 4SC Discovery in the framework of a transfer of operations will be taken over and will continue to work at the existing facility in Planegg-Martinsried. The assets to be transferred include the 4SCan software developed in-house for compound discovery and optimization, 4SC Discovery’s tangible fixed assets and its substance libraries. Other intangible assets are not affected by this transaction.
4SC Discovery will retain its preclinical research projects. 4SC will continue using the epigenetic schemes and the underlying intellectual property for itself, and in addition plans to out-license other projects.
Enno Spillner, CEO of 4SC, said: “It is our goal to establish a leading company in the clinical development of epigenetic anticancer drugs. This is why we are not able to sustainably provide our Discovery division with the necessary resources required for rapid growth. With the transaction in effect, it will be possible for us to enhance 4SC cost-efficiently and focused on its key value drivers. We are very pleased that our long-term business partner BioNTech can ideally supplement its existing immunotherapy business and will keep the existing 4SC Discovery facility in Martinsried.”
Dr Sierk Poetting, CFO of BioNTech, added: “And we are very glad to expand our team with the experienced and competent scientists of 4SC Discovery. The successful research activities will now continue under the newly founded BioNTech Small Molecules, constituting a real asset for the entire BioNTech Group. The innovative technology now enables us to develop next-generation immunotherapies against cancer also on the basis of medicinal chemistry. Further, we will use our new research and development unit to expand and optimize our existing platforms.”