Schroder UK Public Private Tst plc Athenex to acquire Kuur (4818X)
May 05 2021 - 2:00AM
UK Regulatory
TIDMSUPP
RNS Number : 4818X
Schroder UK Public Private Tst plc
05 May 2021
Schroder UK Public Private Trust plc (the "Company")
Athenex to acquire Kuur
The Company (LSE: SUPP) is pleased to announce that portfolio
company Kuur Therapeutics ("Kuur"), the leading developer of
off-the-shelf CAR-NKT cell immunotherapies for the treatment of
solid and hematological malignancies, has announced its acquisition
by Athenex, a global biopharmaceutical company.
On Tuesday, 4 May 2021, Athenex announced that it has acquired
Kuur for an upfront payment of $70 million, comprised of equity in
Athenex common stock. The shares received are subject to a 90-day
lockup period. Additionally, Kuur shareholders are eligible to
receive up to $115 million of milestone payments over several
years, which may be paid in either cash or additional Athenex
common stock, at the sole discretion of Athenex.
Based on the terms of the transaction, the Company expects to
receive total initial proceeds of $8.3 million in Athenex common
stock. Furthermore, the Company has the potential for additional
contingent payments of up to $14.6 million over several years which
may be paid in either cash or additional Athenex common stock, at
the sole discretion of Athenex.
It is anticipated that the Company's AIFM will likely revalue
the holding, leading to a significant uplift to the latest carrying
value of the Company's holding in Kuur which stood at GBP0.85
million as at 31 December 2020. This will be reflected in the NAV
as at 30 June 2021, which will be announced in the Company's
interim accounts for the half year.
Enquiries:
Schroder Investment Management Limited
Estelle Bibby (Press) 0207 658 3431
Gareth Faith (Company Secretary) 0207 658 5264
About Athenex, Inc.
Founded in 2003, Athenex, Inc. (NASDAQ: ATNX) is a global
clinical stage biopharmaceutical company dedicated to becoming a
leader in the discovery, development, and commercialization of next
generation drugs for the treatment of cancer. Athenex is organized
around three platforms, including an Oncology Innovation Platform,
a Commercial Platform, and a Global Supply Chain Platform. The
Company's current clinical pipeline is derived from four different
platform technologies: (1) Orascovery, based on P-glycoprotein
inhibitor, (2) Src kinase inhibition, (3) T-cell
receptor-engineered T-cells (TCR-T), and (4) Arginine deprivation
therapy. Athenex's employees worldwide are dedicated to improving
the lives of cancer patients by creating more active and tolerable
treatments. For more information, please visit www.athenex.com
.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQFLFILETISIIL
(END) Dow Jones Newswires
May 05, 2021 02:00 ET (06:00 GMT)
Woodford Patient Capital (LSE:WPCT)
Historical Stock Chart
From Sep 2024 to Oct 2024
Woodford Patient Capital (LSE:WPCT)
Historical Stock Chart
From Oct 2023 to Oct 2024