Alcon to Acquire Swiss Biotechnology Firm, ESBATech AG
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ * Company gains access to proprietary antibody fragment technology particularly suited to treat eye diseases * Acquisition establishes sustainable platform for ongoing biologics development * Deal builds on other recent transactions to expand breadth and depth of Alcon's development opportunities in eye care in the long term * ESBATech shareholders retain rights to non-ophthalmic technology and productsHUENENBERG and ZURICH, Switzerland - September 14, 2009Alcon (NYSE: ACL) announced today that it has entered into adefinitive agreement to acquire ESBATech AG, a Swiss biotechnologycompany. Alcon will pay ESBATech shareholders $150 million in cashat closing, plus contingent payments of up to $439 million based uponthe achievement of future research and development milestones thatwould be expected to create value for Alcon. ESBATech is aclinical-stage biotechnology company that has been developing apipeline of proprietary single-chain antibody fragment therapeuticsfor topical and local delivery for safe and convenient therapy."Biotechnology offers significant growth opportunities inophthalmology because it has the potential to deliver therapies withsuperior efficacy and safety relative to existing approaches," saidSabri Markabi, M.D., Alcon's senior vice president of research anddevelopment and chief medical officer. "Combining ESBATech'sproprietary antibody fragment technology with our expertise inophthalmic formulation and capabilities in global development willstrengthen Alcon's leadership position in ophthalmology."ESBATech has advanced its antibody fragment technology to preclinicaland clinical stages in the eye for various diseases. The company hasseveral stable and soluble single-chain antibody fragments indevelopment, with its most advanced product candidate progressed intoPhase I and II studies relating to the treatment of inflammatoryocular diseases. "I am very proud of what our team has achieved in proving clinicallythat our platform delivers therapeutic antibody fragments withrequired drug-like properties," said Dr. Dominik Escher, chiefexecutive officer of ESBATech. "All of us at ESBATech are excited tojoin with Alcon to advance this technology further and to developproducts to treat serious eye diseases so that more patients can seebetter."The agreement to acquire ESBATech includes all rights to itstechnology for therapeutic application to the eye, includingage-related macular degeneration, diabetic macular edema, glaucoma,dry eye and uveitis. Substantially all of the employees of ESBATechwill join Alcon upon the finalization of the acquisition. The rightsto the technology and products for application outside ofophthalmology will be retained by the previous shareholders ofESBATech and spun off into a separate new company, DelenexTherapeutics AG."This acquisition is part of our ongoing strategy to enhance accessto multiple sources of technologies and compounds that bolster ourtotal research platform in support of innovative products to treateye disease," said Kevin Buehler, Alcon's president and chiefexecutive officer. "We welcome Dr. Escher and his highly-qualifiedteam of biotechnology experts who will become the foundation ofAlcon's biologics capability in the future."As confirmation of the strategy to enhance the Alcon researchplatform, this biologics capability acquisition comes on the heels ofAlcon's recent announcement of an agreement with AstraZeneca thatpairs Alcon's ophthalmic research capability with AstraZeneca's richdrug libraries in a collaborative effort to treat eye diseases. TheESBATech acquisition expands Alcon's research capability outside ofsmall molecules to the promising field of proteins, antibodies andother large molecules.About AlconAlcon, Inc. is the world's leading eye care company, with sales ofapproximately $6.3 billion in 2008. Alcon, which has been dedicatedto the ophthalmic industry for 65 years, researches, develops,manufactures and markets pharmaceuticals, surgical equipment anddevices, contacts lens solutions and other vision care products thattreat diseases, disorders and other conditions of the eye. Alconoperates in 75 countries and sells products in 180 markets. Alcon'smajority shareholder is Nestlé, S.A., the world's largest foodcompany. For more information on Alcon, Inc., visit the Company'sweb site at www.alcon.com.About ESBATechESBATech is a Zurich, Switzerland-based, privately held, clinicalstage biotechnology company concentrating in research and developmentof its antibody fragments for therapeutic applications. ESBATechapplies its proprietary screening platform IMMUNA and its fully humansingle-chain antibody frameworks to generate product candidatesagainst targets of clinical relevance. Prior to the acquisition, thecompany focused on three franchises: ophthalmology, rheumatology andrespiratory, advancing a pipeline of novel antibody fragments fortopical and/or local delivery, to ensure safe and convenient patienttherapy. For more information about ESBATech, please visit thecompany's web site at www.esbatech.com.Caution Concerning Forward-Looking Statements. This press release maycontain forward-looking statements within the meaning of the UnitedStates Private Securities Litigation Reform Act of 1995. Anyforward- looking statements reflect the views of our management as ofthe date of this press release with respect to future events and arebased on assumptions and subject to risks and uncertainties. Giventhese uncertainties, you should not place undue reliance on theseforward-looking statements. Except to the extent required under thefederal securities laws and the rules and regulations promulgated bythe Securities and Exchange Commission, we undertake no obligation topublicly update or revise any of these forward-looking statements,whether to reflect new information or future events or circumstancesor otherwise.Investor and Media InquiriesFor Alcon: For ESBATech:Doug MacHatton Dr. Dominik Escher817-551-8974 +41-44-733 4900doug.machatton(at)alconlabs.com escher(at)esbatech.comMelissa Mota817-551-4007melissa.mota(at)alconlabs.comhttp://hugin.info/141493/R/1341018/320625.pdf --- End of Message ---ESBATech AGWagistrasse 21 Zurich-Schlieren SwitzerlandListed: Main Market in SIX Swiss Exchange;
Datum: 14.09.2009 - 08:00 Uhr
Sprache: Deutsch
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