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UCB S.A.. (4/5/18). "Press Release: UCB Strengthens Research Capabilities with Acquisition of Element Genomics, a Duke University Biotech Spin-off". Brussels.

Organisations Organisation UCB S.A. (Euronext: UCB)
  Group UCB (Group)
  Organisation 2 Element Genomics Inc.
  Group UCB (Group)
Products Product genomics
  Product 2 drug target (research)
Index term Index term Element Genomics–UCB: investment, 201804 acquisition by UCB for up to $30m in upfront + short-term milestones
Person Person Patel, Dhavalkumar (UCB 201802 CSO)
     


Acquisition to strengthen UCB’s genomics and epigenomics research platform to identify novel drug targets


UCB announces the acquisition of Element Genomics, a small-size biotech spin-off from Duke University, based in Durham, North Carolina (USA). The total cost of the transaction, including upfront and short-term success-based milestone payments, will amount to up to USD 30 million.

At the core of the Element Genomics platform is a suite of technologies to improve understanding of genome structure and function such as CRISPR editing technologies used for genomic and epigenomic regulatory region analysis and modulation, underpinned and enabled with advanced informatics capabilities, and driven by a strong scientific team. Element Genomics’ proven technologies and expertise will enhance UCB’s scientific research platform enabling the company to continue to enrich its pipeline, in particular strengthening target discovery and characterization in disease relevant systems.

Speaking about the deal, Dhavalkumar Patel, UCB’s Chief Scientific Officer explains: “Element Genomics researchers have a stellar reputation and their scientific expertise in genomics and epigenomics will complement UCB’s, allowing us to deepen our understanding of disease mechanisms with the aim of developing targeted therapies. We look forward to working with the Element Genomics team and welcome them within UCB.”

“We at Element are thrilled that UCB shared our vision for treating disease through knowledge gained through functional genomics and the vast and largely unexplored biology of the epigenome. We believe that together with UCB we can much more quickly harness the power of this approach, said John Oxaal, CEO of Element Genomics”.

Alexander Moscho, UCB’s Chief Strategy Officer said: “This acquisition is perfectly in line with our network strategy, where we seek the best partners to augment our expertise in key scientific areas. This in turn helps us to maintain a dynamic pipeline of cutting-edge programs which we can grow organically or choose to partner out to deliver the most value for patients.”

Element Genomics’ team will continue to be based in downtown Durham, North Carolina, and will work very closely with UCB’s international research teams. Close cooperation will be pursued with Duke University and the Element Genomics founders, Duke University Professors Charles Gersbach, Greg Crawford, Tim Reddy and Kris Wood.


About UCB

UCB, Brussels, Belgium (www.ucb.com) is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases in immunology and neurology. With around 7 500 people operating in 40 countries, the company generated revenue of € 4.5 billion in 2017. UCB is listed on Euronext Brussels (symbol: UCB). Follow us on Twitter: @UCB_news


About Element Genomics

Element Genomics is a discovery stage biotechnology company based in Durham, North Carolina, focused on finding breakthough cures for severe human disease through the use of functional genomics and manipulation of the epigenome.


For further information, UCB:

Corporate Communications
France Nivelle
Global Communications, UCB
T +32.2.559.9178 france.nivelle@ucb.com

Laurent Schots
Media Relations, UCB
T+32.2.559.92.64 Laurent.schots@ucb.com

Investor Relations
Antje Witte
Investor Relations, UCB
T +32.2.559.94.14 antje.witte@ucb.com

Isabelle Ghellynck,
Investor Relations, UCB
T+32.2.559.9588, isabelle.ghellynck@ucb.com


UCB Forward-Looking Statements

This press release contains forward-looking statements based on current plans, estimates and beliefs of management. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including estimates of revenues, operating margins, capital expenditures, cash, other financial information, expected legal, political, regulatory or clinical results and other such estimates and results. By their nature, such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions which could cause actual results to differ materially from those that may be implied by such forward-looking statements contained in this press release. Important factors that could result in such differences include: changes in general economic, business and competitive conditions, the inability to obtain necessary regulatory approvals or to obtain them on acceptable terms, costs associated with research and development, changes in the prospects for products in the pipeline or under development by UCB, effects of future judicial decisions or governmental investigations, product liability claims, challenges to patent protection for products or product candidates, changes in laws or regulations, exchange rate fluctuations, changes or uncertainties in tax laws or the administration of such laws and hiring and retention of its employees. UCB is providing this information as of the date of this press release and expressly disclaims any duty to update any information contained in this press release, either to confirm the actual results or to report a change in its expectations.

There is no guarantee that new product candidates in the pipeline will progress to product approval or that new indications for existing products will be developed and approved. Products or potential products which are the subject of partnerships, joint ventures or licensing collaborations may be subject to differences between the partners. Also, UCB or others could discover safety, side effects or manufacturing problems with its products after they are marketed. Moreover, sales may be impacted by international and domestic trends toward managed care and health care cost containment and the reimbursement policies imposed by third-party payers as well as legislation affecting biopharmaceutical pricing and reimbursement.

   
Record changed: 2018-04-08

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