Horizon Discovery Signs Subscription Based Licensing Agreement for Biomanufacturing Cell Lines
· Horizon announces new bioproduction outlicense deal with a minimum value of £500,000
· Novel licensing model allows early access over a 5 year period to bioproduction cell line innovations as well as for immediate use of Horizon's GS Null CHO K1 bioproduction cell line for drug manufacturing
Cambridge, UK, 19 October 2016: Horizon Discovery Group plc (LSE: HZD) ("Horizon"), the world leader in the application of gene editing technologies, today announces a new licensing agreement with an unnamed commercial partner ("Partner") for access to Horizon bioproduction cell lines. The subscription deal, a first of its kind for Horizon, is valued at a minimum of £500,000.
Under the terms of the license, the Partner will gain immediate access to one of Horizon's cutting-edge engineered cell lines (CHO SOURCE GS Null cell line), for an indefinite period of time in order to manufacture their novel therapeutics. The Partner will also gain early access to Horizon's programme of continuous cell line innovation, enabling them to license, via the subscription, any follow-on cell lines developed as part of the program at a 50% discount within a 5 year period from signature. The minimum fee will be paid up front, with a significant amount to be recognised in FY2016.
The license deal follows an evaluation period initiated in Q4 2015 and reflects the confidence of the Partner that Horizon will provide a number of additional cell lines over the next five years, leading to significant efficiency improvements in their biomanufacturing capability.
Dr. Darrin Disley, Chief Executive Officer, Horizon Discovery Group, commented: "Horizon continues to be a disruptive influence in the bioproduction arena, using technical and commercial innovation to accelerate advancements in drug manufacturing. This new announcement further validates our approach, with our Partner demonstrating their confidence by making a five year commitment via subscription model to the program. We look forward to making further announcements in this area as Horizon continues its momentum as a key player in the bioproduction space."
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About Horizon's Bioproduction Business
Protein therapeutics represent a significant share of the top 50 drugs globally and are increasingly present in developmental pipelines. The provision and licensing of bioproduction cells for their manufacture, however, can be cost prohibitive, especially for smaller organisations, and are often tied to long-term revenue-based licensing terms.
Horizon is a leading provider of precision engineered off the shelf and custom CHO cell lines used for the manufacture of biological therapeutics. The CHO SOURCE platform delivers a fully engineered and characterised host cell line, ideally suited to the manufacture of recombinant protein therapeutics. Horizon constantly works to improve its bioproduction cell lines under a program of continuous cell line innovation to ensure that cells delivered to customers always provide the greatest efficiency and value possible.
Horizon first out-licensed the CHO SOURCE cell line in 2015 and several additional commercial licenses have been executed since, driven by the combination of top tier innovation and disruptive commercial licensing terms. Horizon's business model is focused on securing significant market share and then using continuous innovation to develop strong customer loyalty.
For further information, please contact:
Horizon Discovery Group plc
Darrin Disley, Chief Executive Officer
Richard Vellacott, Chief Financial Officer
Consilium Strategic Communications (Financial Media and Investor Relations)
Mary-Jane Elliott / Susan Stuart / Matthew Neal / Melissa Gardiner
Tel: +44 (0) 20 3709 5701
Email: [email protected]
Zyme Communications (Trade and Regional Media)
Tel: +44 (0)7787 502 947
Email: [email protected]
Numis Securities Limited (Joint Broker and NOMAD)
Michael Meade / Freddie Barnfield
Tel: +44 (0) 207 260 1000
RBC Capital Markets (Joint Broker)
Paul Tomasic / Marcus Jackson
Tel: +44 (0) 20 7653 4000
About Horizon Discovery Group plc www.horizondiscovery.com/
Horizon Discovery Group plc (LSE: HZD) ("Horizon"), is a world-leading gene editing company that designs and engineers genetically-modified cells and then applies them in research and clinical applications that advance human health.
Horizon's core capabilities are built around its proprietary translational genomics platform, a highly precise and flexible suite of gene editing tools (rAAV, ZFN and CRISPR) able to alter almost any gene sequence in human or mammalian cell-lines.
Horizon offers over 23,000 catalogue products and related research services, almost all of which are based on the generation and application of cell and in vivo models that accurately recapitulate the disease-causing genetic anomalies found in diseases like cancer. Horizon's commercial offering has been adopted by c1,400 unique research organisations in over 50 countries as well as in the Company's own R&D pipeline to support a greater understanding of the genetic drivers of disease and the development of molecular, cell and gene therapies that can be prescribed on a personalised basis.
Horizon is headquartered in Cambridge, UK, and is listed on the London Stock Exchange's AIM market under the ticker "HZD". For more information see www.horizondiscovery.com.
This information is provided by RNS