Aptevo Therapeutics Receives $20 Million Payment From Emergent BioSolutions
January 13 2017 - 9:02AM
Aptevo Therapeutics Inc. (Nasdaq:APVO), a biotechnology company
focused on developing novel oncology and hematology therapeutics,
today announced that it has received a $20 million cash payment
from Emergent BioSolutions pursuant to a promissory note granted as
a result of the spin-off of Aptevo from Emergent, effective August
1, 2016.
With the additional $20 million cash payment
announced today, Emergent has provided a total of $65 million in
cash contributions to fund Aptevo’s operations as a newly-launched
oncology and hematology-focused company with a broad pipeline of
commercial, clinical and preclinical assets and a proprietary
bispecific technology platform, ADAPTIR™, focused on the
development of immuno-oncology therapeutics.
“The achievement of this final payment from
Emergent marks another important milestone in Aptevo’s progress,”
said Marvin L. White, President and Chief Executive Officer.
“With the generous funding provided by Emergent, and a strong
portfolio of revenue-generating commercial assets, Aptevo is
solidly positioned to achieve our near-term goals. Specifically,
these include: capturing increased market share for our
newly-launched Hemophilia B therapeutic, IXINITY®; generating
additional data from our two clinical-stage programs, otlertuzumab
and MOR209/ES414; and rapidly advancing new ADAPTIR immuno-oncology
candidates into clinical development.”
About Aptevo Therapeutics Inc.
Aptevo Therapeutics Inc. is a biotechnology
company focused on novel oncology and hematology therapeutics to
meaningfully improve patients’ lives. Our core technology is the
ADAPTIR™ (modular protein technology) platform. Aptevo has four
commercial products in the areas of hematology and infectious
diseases, as well as various investigational stage product
candidates in immuno-oncology.
Safe Harbor Statement
This press release includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Any statements, other than statements of
historical fact, including, without limitation, statements
regarding Aptevo’s outlook, financial performance or financial
condition, our technology and related pipeline, collaboration and
partnership opportunities, commercial portfolio and any other
statements containing the words “believes,” “expects,”
“anticipates,” “intends,” “plans,” “forecasts,” “estimates,” “will”
and similar expressions are forward-looking statements. These
forward-looking statements are based on Aptevo’s current
intentions, beliefs and expectations regarding future events.
Aptevo cannot guarantee that any forward-looking statement will be
accurate. Investors should realize that if underlying assumptions
prove inaccurate or unknown risks or uncertainties materialize,
actual results could differ materially from Aptevo’s expectations.
Investors are, therefore, cautioned not to place undue reliance on
any forward-looking statement. Any forward-looking statement speaks
only as of the date of this press release, and, except as required
by law, Aptevo does not undertake to update any forward-looking
statement to reflect new information, events or circumstances.
There are a number of important factors that
could cause our actual results to differ materially from those
indicated by such forward-looking statements, including possible
negative effects on our business operations, assets or financial
results as a result of the separation; a deterioration in our
business or prospects; the ability of our contractors and suppliers
to supply product and materials; our ability and the ability
of our contractors and suppliers to maintain compliance with cGMP
and other regulatory obligations; the results of regulatory
inspections; adverse developments in our customer-base or markets;
adverse developments in the U.S. or global capital markets, credit
markets or economies generally; and changes in regulatory, social
and political conditions. Additional risks and factors that may
affect results are set forth in our filings with the Securities and
Exchange Commission, including Aptevo’s most recent Quarterly
Report on Form 10-Q, as filed on November 14, 2016. The foregoing
sets forth many, but not all, of the factors that could cause
actual results to differ from our expectations in any
forward-looking statement.
Source:
Aptevo Therapeutics
Stacey Jurchison
Senior Director, Investor Relations and Corporate Communications
206-859-6628
JurchisonS@apvo.com
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