08.30.18
Ultimovacs has acquired the immunotherapy technology business of Immuneed AB for NOK 50 million.
The acquired business has been named Ultimovacs AB and is now a fully-owned Swedish subsidiary of Ultimovacs AS. The business is located in Uppsala and has two employees.
“In Ultimovacs, we have been looking for an adjuvant technology that can further improve cancer vaccines. Simultaneously, Immuneed has been searching for a Peptide based Vaccine platform for further testing of their technology. This is a perfect match,” says Øyvind Kongstun Arnesen, chief executive officer of Ultimovacs.
Ultimovacs is a Norwegian pharmaceutical company developing novel immunotherapies against cancer. The Lead product candidate is UV1, a peptide-based vaccine inducing a specific T Cell response against the universal cancer Antigen telomerase. UV1 is currently in clinical testing in the US.
The purchase price of the technology business of Immuneed AB was NOK 50.4 million, corresponding to SEK 54.5 million, which was paid partly in cash and partly in shares in Ultimovacs AS.
“We are very excited about this merger. By joining forces with Ultimovacs, with their promising cancer vaccine and significant experience from clinical development, we believe the potential of the TET platform technology can be realized and benefit patients faster and better,” says Camilla Huse Bondesson, Chairman of the Board of Immuneed AB.
Based on an exclusive license agreement with the Leiden University Medical Centre, Immuneed has developed technology (named the ‘TET-platform™’) that Ultimovacs believes can attractively complement the cancer vaccine under development by Ultimovacs. The TET-platform addresses the general challenge of so called “adjuvants” that enhance the desired response of the immune system to a vaccine. It makes it possible to incorporate adjuvant and the vaccine itself into one molecule. When using the technology from Immuneed, the antibodies formed by a previous vaccine can function as adjuvant for a new vaccine.
The acquired business has been named Ultimovacs AB and is now a fully-owned Swedish subsidiary of Ultimovacs AS. The business is located in Uppsala and has two employees.
“In Ultimovacs, we have been looking for an adjuvant technology that can further improve cancer vaccines. Simultaneously, Immuneed has been searching for a Peptide based Vaccine platform for further testing of their technology. This is a perfect match,” says Øyvind Kongstun Arnesen, chief executive officer of Ultimovacs.
Ultimovacs is a Norwegian pharmaceutical company developing novel immunotherapies against cancer. The Lead product candidate is UV1, a peptide-based vaccine inducing a specific T Cell response against the universal cancer Antigen telomerase. UV1 is currently in clinical testing in the US.
The purchase price of the technology business of Immuneed AB was NOK 50.4 million, corresponding to SEK 54.5 million, which was paid partly in cash and partly in shares in Ultimovacs AS.
“We are very excited about this merger. By joining forces with Ultimovacs, with their promising cancer vaccine and significant experience from clinical development, we believe the potential of the TET platform technology can be realized and benefit patients faster and better,” says Camilla Huse Bondesson, Chairman of the Board of Immuneed AB.
Based on an exclusive license agreement with the Leiden University Medical Centre, Immuneed has developed technology (named the ‘TET-platform™’) that Ultimovacs believes can attractively complement the cancer vaccine under development by Ultimovacs. The TET-platform addresses the general challenge of so called “adjuvants” that enhance the desired response of the immune system to a vaccine. It makes it possible to incorporate adjuvant and the vaccine itself into one molecule. When using the technology from Immuneed, the antibodies formed by a previous vaccine can function as adjuvant for a new vaccine.
