|[July 29, 2014]
Cellectis Sells Its Swedish Subsidiary, Cellectis AB, to the Japanese Company Takara Bio Inc.
PARIS --(Business Wire)--
Cellectis (Paris:ALCLS)(Alternext: ALCLS.PA), a leader in the
development of adoptive immunotherapies based on engineered allogeneic
CART cells (UCART) announces today the sale of its subsidiary Cellectis
AB to the Japanese Company Takara Bio Inc.
This operation, which will be realized in the coming weeks subject to
the completion of certain usual conditions, is for Cellectis the
extension to its strategic therapeutic focus. The Company now
concentrates its activities in the field of oncology through the
development of Chimeric Antigen Receptor T-cell (CAR-T) immunotherapy
products generated through its allogeneic CAR-T platform, both on its
own as well as in partnership with Servier and Pfizer.
Cellectis AB is a biotechnology company focused on applications of human
embryonic stem cell (hES) based products and technologies for the
Industry and the research community.
The quick downturn of the market had led Cellectis SA to restructure in
2013 its heavily loss-making "Tools and Services" Business Unit. The
sale of Cellectis AB is the last step of the reorganization of this
Business Unit whih in 2013 recorded an operating loss of 14 million
euros before booking of extraordinary depreciation and of the costs
related to the company downsizing.
The financials terms of the transaction have not been disclosed. It will
lead to a loss of about € 5 million in 2014 Cellectis' books.
Cellectis is a biopharmaceutical company focused on oncology. The
company's mission is to develop a novel generation of therapies based on
engineered T-cells to treat cancer. Cellectis capitalizes on its 14
years of expertise in genome engineering, based on TALEN™, meganucleases
and the state-of-the-art electroporation technology Pulse Agile (News - Alert), to
create a new generation of cancer immunotherapy for treating leukemias
and solid tumors. Cellectis' adoptive cancer immunotherapy for chronic
and acute leukemias is based on the first allogeneic T-cell chimeric
antigen receptor (CAR) technology. CAR technologies are designed to
target surface antigens expressed on cells. These treatments reduce
toxicities associated with current chemotherapeutics and have the
potential for curative therapies. The Cellectis Group is focused on life
sciences and uses leading genome engineering technologies to build
innovative products in various fields and markets. Cellectis is listed
on the NYSE Alternext market (ticker: ALCLS). To find out more about us,
visit our website: www.cellectis.com
This press release and the information contained herein do not
constitute an offer to sell or subscribe, or a solicitation of an offer
to buy or subscribe for shares in Cellectis in any country. This press
release contains forward-looking statements that relate to the Company's
objectives based on the current expectations and assumptions of the
Company's management only and involve unforeseeable risk and
uncertainties that could cause the Company to fail to achieve the
objectives expressed by the forward-looking statements.
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