Predict your next investment

HEALTHCARE | Drug Development

See what CB Insights has to offer

Founded Year

2010

Stage

Acquired | Acquired

Valuation

$0000 

About Catherex

Catherex, a spin-off of Medigene, is a clinical stage immunotherapy company that focuses on the development of T-cell therapy platforms for the treatment of cancer.

Catherex Headquarter Location

Philadelphia, Pennsylvania,

United States

Latest Catherex News

Medigene publishes annual report 2015 Cash increased substantially financial guidance met

Mar 17, 2016

-2,071 >200 % Medigene generated revenues from its non-core business, i.e. from out-licensed/sold drugs. These revenues decreased in 2015 as planned to €6,808 K (2014: €13,784 K) compared to last year, especially as a consequence of one-off revenues and lower cost reimbursements for research and development. Revenue from license fees (royalties) for Veregen® rose by 8% to €2,549 K (2014: €2,352 K). Research and development costs increased in 2015 according to plan, by 14% to €8,529 K (2014: €7,498 K). The increase is mainly due to the higher expenses for preclinical and clinical trials for Medigene's immunotherapies, which increased significantly as planned in 2015 by 95% to €5,534 K (2014: €2,832 K). This increase was partially balanced out by lower development expenses for other, outlicensed products. Furthermore, the EBITDA loss increased in 2015 to €-9,495 K (2014: €-2,071 K), as expected. The increase is mainly due to the decreased income from non-core business and higher research and development costs for Medigene's immunotherapy programmes compared to last year. Medigene also improved its cash, cash equivalents and time deposits to €46,759 K (2014: €14,976 K). This increase is a result of the successfully completed capital increase in July 2015. At the end of December 2015, Medigene announced that Amgen Inc., USA, had acquired Catherex, Inc. As the largest shareholder of Catherex, Medigene, Inc., USA, is entitled to approximately 40% of all payments to be made by Amgen in the course of the acquisition. The former shareholders of Catherex receive an upfront payment from Amgen of US$10.5 m and are entitled to further payments when certain regulatory and sales-based milestones are reached for Amgen's drug ImlygicTM. In addition, they are entitled to payments based on sales of ImlygicTM until the end of 2020. In February 2016 Medigene, Inc. received its share of the agreed upfront payment (execution fee) less transaction costs and liabilities and received a milestone payment of US$1.2 m as final development/regulatory milestone payment. The gain on sale was recognised in 2015 on a net basis under "share of result/disposal of associates". Medigene met its improved EBITDA forecast as revised in its 9-Months Report for 2015. According to the forecast, the company anticipated an EBITDA loss of €9 - 10 m, and research and development expenses for its immunotherapy programmes of €6 - 7 m, which were slightly lower due to reduced expenses for external service providers. Total revenue from Veregen® was within the projected €3 - 4 m. Financial forecast 2016: Medigene is planning to expand its clinical development programs, and therefore expects a further significant increase in research and development costs for immunotherapies in the range of € 9 - 11 million in 2016 (2015: € 5.5 million). The 2016 EBITDA loss is expected to reach €10 - 12 million (2015: € 9.5 million). The company expects revenues for Veregen® of € 3 - 4 million (2015: € 3.1 million) for the year 2016, as well as steady/increasing total revenues (2015: € 6.8 million). The detailed interactive annual report 2015 is available online at:  http://annualreport2015.medigene.com Press and analysts' conference call: A press and analysts conference call (in English) will be held today at 3:00pm CET / 10:00am EST (USA) and will be webcast live. Please access the synchronized presentation slides and a recording via Medigene's website, www.medigene.com . Medigene AG is a publicly listed (Frankfurt: MDG1, prime standard) biotechnology company headquartered in Martinsried near Munich, Germany. The company is developing highly innovative, complementary treatment platforms to target various types and stages of cancer with candidates in clinical and pre-clinical development. Medigene concentrates on the development of personalized T cell-based immunotherapies. For more information, please visit www.medigene.com This press release contains forward-looking statements representing the opinion of Medigene as of the date of this release. The actual results achieved by Medigene may differ significantly from the forward-looking statements made herein. Medigene is not bound to update any of these forward-looking statements. Medigene® is a registered trademark of Medigene AG. This trademark may be owned or licensed in select locations only. Contact Medigene Julia Hofmann, Dr. Robert Mayer Tel. : +49 - 89 - 20 00 33 - 33 01 Email: investor@medigene.com In case you no longer wish to receive any information about Medigene, please inform us by e-mail ( investor@medigene.com ). We will then delete your address from our distribution list. Press release English PDF This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Medigene AG via Globenewswire HUG#1995186

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing Catherex

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Catherex is included in 3 Expert Collections, including Pharma Startups.

P

Pharma Startups

6,549 items

Pharmaceutical companies working across drug discovery, drug development and drug manufacturing.

C

Cancer Therapeutics

1,179 items

Pharmaceutical and biotechnology companies with cancer therapy drug candidates.

R

Regenerative Medicine

1,767 items

Regenerative medicine refers to the process of activating, replacing, engineering or regenerating human genetic material, cells, tissues or organs to restore normal function. It also includes bioengineered tissues used for in vitro testing (e.g. organ-on-a-chip, organoids).

Catherex Patents

Catherex has filed 5 patents.

The 3 most popular patent topics include:

  • Biotechnology
  • Molecular biology
  • Virology
patents chart

Application Date

Grant Date

Title

Related Topics

Status

12/19/2016

1/14/2020

Molecular biology, Biotechnology, Clusters of differentiation, Virology, Transcription factors

Grant

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

Application Date

12/19/2016

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Grant Date

1/14/2020

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Title

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Related Topics

Molecular biology, Biotechnology, Clusters of differentiation, Virology, Transcription factors

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Grant

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.