PARIS, Jul 29, 2014 (BUSINESS WIRE) -- Regulatory News:
Cellectis FR:ALCLS +4.00% (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 which 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, 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.