NewLink Genetics to Regain Rights to GDC-0919
June 08 2017 - 7:00AM
NewLink Genetics Corporation (NASDAQ:NLNK) today announced that on
June 6, 2017, Genentech, a member of the Roche Group, informed
NewLink Genetics that it intends to return the rights to IDO
inhibitor GDC-0919 (navoximod) pursuant to the License Agreement
dated October 16, 2014. As a consequence of such decision and
pursuant to the terms of the agreement, the rights that NewLink
Genetics had licensed to Genentech with respect to GDC-0919 will
revert to NewLink Genetics when the termination becomes
effective. The research collaboration with Genentech for the
discovery of next generation IDO/TDO (tryptophan 2,3-dioxygenase)
inhibitors continues.
“We are obviously disappointed in this
decision,” said Charles J. Link, Jr., M.D., Chief Executive Officer
of NewLink Genetics. “We remain committed to advancing our IDO
pathway inhibitor indoximod, which continues to generate exciting
data in combination with anti-PD-1 agents, cancer vaccines, and
chemotherapy in multiple cancer types including melanoma, prostate
cancer, acute myeloid leukemia, and pancreatic cancer.”
About NewLink Genetics Corporation
NewLink Genetics is a late-stage
biopharmaceutical company focusing on discovering, developing and
commercializing novel immuno-oncology product candidates to improve
the lives of patients with cancer. NewLink Genetics' IDO
pathway inhibitors are designed to harness multiple components of
the immune system to combat cancer. Indoximod is being
evaluated in combination with treatment regimens including
anti-PD-1 agents, cancer vaccines, and chemotherapy across multiple
indications such as melanoma, prostate cancer, acute myeloid
leukemia, and pancreatic cancer. For more information, please visit
http://www.newlinkgenetics.com.
Conference Call Details
The Company has scheduled a conference call
for 8:30 a.m. ET Thursday, June 8 to discuss this
development. NewLink Genetics' senior management team will host the
call, which will be open to all listeners. There will also be a
question and answer session following the prepared remarks.
Access to the live conference call is available
by dialing (855) 469-0612 (U.S.) or (484) 756-4268 (international)
five minutes prior to the start of the call. A replay of the call
will be available approximately two hours after the completion of
the call and can be accessed by dialing (855) 859-2056 (U.S.) or
(404) 537-3406 (international) and using the passcode 37062641.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking
statements of NewLink Genetics that involve substantial risks and
uncertainties. All statements, other than statements of
historical fact, contained in this press release are
forward-looking statements, within the meaning of The Private
Securities Litigation Reform Act of 1995. The words "anticipate,"
"believe," "estimate," "expect," "intend," "may," "plan," "target,"
"potential," "will," "could," "should," "seek" or the negative of
these terms or other similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. These
forward-looking statements include any statements other than
statements of historical fact. Actual results or events could
differ materially from the plans, intentions and expectations
disclosed in the forward-looking statements that NewLink Genetics
makes due to a number of important factors, including those risks
discussed in "Risk Factors" and elsewhere in NewLink
Genetics' Annual Report on Form 10-K for the year
ended December 31, 2016 and other reports filed with
the U.S. Securities and Exchange Commission (SEC).
The forward-looking statements in this press release represent
NewLink Genetics’ views as of the date of this press release.
NewLink Genetics anticipates that subsequent events and
developments will cause its views to change. However, while
it may elect to update these forward-looking statements at some
point in the future, it specifically disclaims any obligation to do
so. You should, therefore, not rely on these forward-looking
statements as representing NewLink Genetics' views as of
any date subsequent to the date of this press release.
Contact:
Lisa Miller
Director of Investor Relations
NewLink Genetics
(515) 598-2555
lmiller@linkp.com
Investor Contact:
Beth Kurth, VP
LaVoieHealthScience
617-374-8800, ext. 106
bkurth@lavoiehealthscience.com
Media Contact:
Andrew Mastrangelo, AVP
LaVoieHealthScience
617-374-8800, ext. 108
amastrangelo@lavoiehealthscience.com
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