TopoTarget A/S
Symbion
Fruebjergvej 3
DK 2100 Copenhagen
Denmark
Tel: +45 39 17 83 92
Fax: +45 39 17 94 92
CVR-nr: 25695771
www.topotarget.com
To the Copenhagen Stock Exchange
Announcment No. 24-07/ Copenhagen 27 June 2007
TopoTarget completes the capital increase and the acquisition of Apoxis SA
Copenhagen, Denmark - 27 June, 2007 - TopoTarget A/S (Copenhagen
Stock Exchange: TOPO) announces the completion of the acquisition of Apoxis SA
with 3,598,030 shares having been issued to the vendors of Apoxis. Hereby
TopoTarget gains two oncology products to its pipeline.
Consistent with the growth strategy pursued by TopoTarget, the acquisition of
the Swiss biotech company Apoxis SA will consolidate two emerging European
oncology companies and will achieve the following:
• TopoTarget will have a stronger development pipeline, with the addition of
two first-in-class oncology products that have entered clinical development
• Complementary protein chemistry expertise of Apoxis will be added to the
existing core competencies in TopoTarget
The two lead oncology products being developed by Apoxis are:
• APO010, a human FAS-ligand protein product generated via Apoxis' MegaLigandTM
proprietary protein research technology platform in Phase I, and
• APO866, a small molecule therapeutic inhibiting the NAD+ production. APO866
is in three individual Phase II trials
TopoTarget's acquisition of Apoxis SA was completed today following
registra-tion with the Commerce and Companies Agency of the capital increase
relating to the public offering. In connection with completion a capital
increase of DKK 3,598,030 nominal value consisting of 3,598,030 shares, each
with a nominal value of DKK 1, was registered with the Commerce and Companies
Agency. Following completion of the public offering, as announced on 21 June
2007, and the completion of the acquisition TopoTarget's share capital amounts
to DKK 61,304,510 consisting of 61,304,510 shares each with a nominal value of
DKK 1. All shares are issued to the vendors in settlement of the purchase price
of DKK 107,940,900 (Euro 14.5 million) corresponding to a price per share of
DKK 30.
The purchase price for the acquisition is payable in two further separate
tranches, both of which are contingent upon the occurrence of certain specified
events:
• A potential milestone payment (payable in cash or shares at TopoTarget's
choice) relating to APO866 clinical development
• A potential milestone payment payable on future licensing or sale of the
Inflammasome project, a preclinical program of Apoxis.
The influence of the purchase of Apoxis on the financial result for 2007 will
be announced in the company's Q2 financial report.
TopoTarget A/S
For further information, please contact:
Dr. Peter Buhl Jensen Telephone +45 39 17 83 41
Chief Executive Officer Mobile +45 21 60 89 22
Tim Corcoran Telephone +44 1235 443 713
Chief Operating Officer Mobile +44 787 656 1027
Background information
About TopoTarget
TopoTarget (OMX - The Nordic Exchange: TOPO) is a biopharmaceutical company,
head-quartered in Denmark and with subsidiaries in the UK, Germany and the USA,
dedicated to finding ''Answers for Cancer'' and developing improved cancer
therapies. TopoTarget is founded and run by clinical cancer specialists and
combines years of hands-on clinical experience with in-depth understanding of
the molecular mechanisms of cancer. Focus lies on highly predictive cancer
models and key cancer enzyme regulators (mainly HDAC, mTOR, and topoisomerase
II inhibitors) and a strong development foundation has been built. TopoTarget
has a broad portfolio of small molecule preclinical drug candidates and seven
drugs are in clinical development, including both novel anti-cancer
therapeutics and new cancer indications for existing drugs. Savene™ is
TopoTarget's first product on the market. In addition to organic growth,
TopoTarget consistently looks for opportunities to strengthen and expand its
activities through acquisitions and in-licensing. For more infor-mation, please
refer to www.topotarget.com.
TopoTarget Safe Harbour Statement
This announcement may contain forward-looking statements, including statements
about our expectations of the progression of our preclinical and clinical
pipeline including the timing for commencement and completion of clinical
trials and with respect to cash burn guidance. Such statements are based on
management's current expectations and are subject to a number of risks and
uncertainties that could cause actual results to differ materially from those
described in the forward-looking statements. TopoTarget cautions investors
that there can be no assurance that actual results or business conditions will
not differ materially from those projected or suggested in such forward-looking
statements as a result of various factors, including, but not limited to, the
following: the risk that any one or more of the drug development programs of
TopoTarget will not proceed as planned for technical, scientific or commercial
reasons or due to patient enrolment issues or based on new information from
non-clinical or clinical studies or from other sources; the success of
competing products and technologies; technological uncertainty and product
develop-ment risks; uncertainty of additional funding; TopoTarget's history of
incurring losses and the uncertainty of achieving profitability; TopoTarget's
stage of development as a bio-pharmaceutical company; government regulation;
patent infringement claims against TopoTarget's products, processes and
technologies; the ability to protect TopoTarget's patents and proprietary
rights; uncertainties relating to commercialization rights; and product
liability expo-sure; We disclaim any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events, or otherwise, unless required by law.
