BioXell concludes efforts of technology divestments
(Thomson Reuters ONE) - bioXell S.p.A / BioXell concludes efforts of technology divestments processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. Milan, Italy, 16 February 2010 - BioXell S.p.A. (SIX Swiss Exchange: BXLN) todayannounced that it has terminated its efforts to divest its remaining technologyassets prior to the settlement of the public tender offer by CosmoPharmaceuticals S.p.A. (see www.cosmopharmaceuticals.com) for the shares of BioXell which isexpected to take place until 12 March 2010.Following a broad and well structured divestment process BioXell did not succeedidentifying a third party to take over the further development of its monoclonalantibody BXL1H5 for the treatment of chronic pain. The Company and its licensorLay Line Genomics (LLG) will now mutually terminate the exclusive licenseagreement and BioXell will return all rights to the BXL1H5 technology to LLG. Inaddition, BioXell intends to also terminate its license agreement with F.Hoffmann-La Roche Ltd. regarding its Vitamin D3 technology and assets.About BioXellBioXell S.p.A., a listed biopharmaceutical company focused on the discovery anddevelopment of drugs that exploit novel mechanisms of action, announced on 18November 2009 that it had entered into a transaction agreement with CosmoPharmaceuticals S.p.A. (SIX Swiss Exchange: COPN), headquartered in Lainate,Italy. After a comprehensive and careful review of all available strategicoptions and a thorough review of the terms of the proposed offer, BioXell'sBoard of Directors concluded unanimously that Cosmo's intended acquisition is inthe best interests of BioXell's shareholders.The detailed terms of the tender offer were set out in Cosmo's offer prospectuson 8 December 2009, which can be downloaded at www.cosmopharmaceuticals.com. The offer is expected to be closed by12 March 2010.BioXell was founded in 2002 as a spin-out from Roche. In June 2006, BioXelllisted its shares on the main segment of the SIX Swiss Exchange. The company islocated in Milan, Italy.For further information, please contact: BioXell Dynamics Group SA Alvise Sagramoso, Chief Christophe Lamps Administrative Officer Tel: +39 (0)2 210 49 550 Tel: +41 (0)22 308 62 22 Fax: +39 (0)2 700 59 926 Fax: +41 (0)22 308 62 36 alvise.sagramoso(at)bioxell.com cla(at)dynamicsgroup.ch >This press release can be downloaded at www.bioxell.com.DisclaimerThis document does not constitute, or form part of, any offer to purchase orsell any shares or other securities and neither it nor any part of it shall formthe basis of, or be relied upon in connection with any contract or commitmentwhatsoever. Any decision to tender shares must be based on the official offerdocuments. This document does also not constitute a pre-announcement or anoffering prospectus pursuant to Swiss laws or any other laws.This press release does not constitute or form part, or all, of any offer orinvitation to sell or issue, or any solicitation of any offer to purchase orsubscribe for, any securities, nor shall part, or all, of these materials ortheir distribution form the basis of, or be relied on in connection with, anycontract or investment decision in relation to any securities. This pressrelease contains forward-looking statements based on the currently held beliefsand assumptions of the management of BioXell, which are expressed in good faithand, in their opinion, reasonable. Forward-looking statements involve known andunknown risks, uncertainties and other factors, which may cause the actualresults, financial condition, performance, or achievements of BioXell, orindustry results, to differ materially from the results, financial condition,performance or achievements expressed or implied by such forward-lookingstatements. Given these risks, uncertainties and other factors, recipients ofthis document are cautioned not to place undue reliance on these forward-lookingstatements. BioXell disclaims any obligation to update these forward-lookingstatements to reflect future events or developments.[HUG#1384723] --- End of Message --- bioXell S.p.Avia Olgettina 58 Milan ItalyWKN: A0J3MW;ISIN: IT0004069933 ;Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierb?,Freiverkehr in Bayerische B? M?en; English version PDF: http://hugin.info/133681/R/1384723/343442.pdf
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Datum: 16.02.2010 - 07:02 Uhr
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