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VIFOR PHARMA GROUP INCREASES EQUITY INVESTMENT IN CHEMOCENTRYX
- Vifor Pharma Group increases equity stake in ChemoCentryx from 6.6% to 21.2%.
- Vifor Pharma Group acquires an additional 7,343,492 common shares of ChemoCentryx, Inc. (NASDAQ: CCXI) from GlaxoSmithKline - an additional 14.6% stake in the company.
- As a result Vifor Pharma Group will hold a total of 21.2% of ChemoCentryx on completion of the transaction.
The increased investment follows the establishment of a partnership with ChemoCentryx, which began in May 2016. Under the terms of the current in-licensing agreements, Vifor Pharma Group has the exclusive rights to commercialize avacopan and CCX140 for orphan and rare renal diseases in all markets outside of the United States.
"This investment is a logical step in strengthening our partnership with ChemoCentryx and towards realizing our vision of becoming global leader in nephrology," said Stefan Schulze, Vifor Pharma Group President of the Executive Committee and COO. "It further demonstrates our belief in the significant potential of these products to provide important new treatments to patients with debilitating kidney diseases. As a major shareholder we believe we can support ChemoCentryx in exploring the strength of its pipeline and the technology platform."
"Vifor Pharma has shown itself to be an excellent partner, committed with us at ChemoCentryx to changing the treatment landscape for people with serious kidney disease", said Thomas J. Schall, Ph.D., President and CEO of ChemoCentryx. "We continue to be impressed with Vifor Pharma's expert preparations to market avacopan and CCX140 in their territories, while we at ChemoCentryx focus on the U.S. We're delighted with this excellent ongoing alliance."
The transaction is subject to certain closing conditions, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The parties expect to complete the transaction in Q4 2018.
|Vifor Pharma Contacts|
| Media Relations|
Head of Corporate Communications
Tel.: +41 58 851 80 87
| Investor Relations|
Head of Investor Relations
Tel.: +41 58 851 66 90
Tel.: +1 408-234-1279
Steve Klass at Burns McClellan
Tel.: +1 212-213-0006
Avacopan is currently in late-stage clinical development for the treatment of rare diseases, including rare inflammatory renal diseases. Avacopan is a first in class, oral, highly selective inhibitor of the complement C5a receptor (C5aR) which is central to the underlying pathophysiology of Anti-neutrophil cytoplasmic antibody associated vasculitis (AAV), a group of rare, serious autoimmune diseases which lead to significant morbidity and mortality. In a randomized, double-blind, placebo controlled Phase II clinical study in AAV patients, the CLEAR trial, avacopan demonstrated a favourable risk/benefit profile and therapeutic efficacy to control active vasculitis rapidly. By blocking the terminal effector complement protein C5a, avacopan can selectively inhibit the AAV inflammatory cycle involving the complement system and neutrophils while preserving the function of the C5b-9 membrane attack complex which is important in the immune response to encapsulated bacterial infection.
CCX140, an inhibitor of the chemokine receptor known as CCR2, which is currently being developed for patients with focal segmental glomerulosclerosis (FSGS), a debilitating kidney disease. ChemoCentryx also has early stage drug candidates that target chemoattractant receptors in other inflammatory and autoimmune diseases and in cancer.
Vifor Pharma Group is a global pharmaceuticals company. It aims to become global leader in iron deficiency, nephrology and cardio-renal therapies. The company is the partner of choice for specialty pharmaceuticals and innovative patient-focused solutions. Vifor Pharma Group strives to help patients around the world with severe and chronic diseases lead better, healthier lives. The company develops, manufactures and markets pharmaceutical products for precision patient care. Vifor Pharma Group holds a leading position in all its core business activities and consists of the following companies: Vifor Pharma; Vifor Fresenius Medical Care Renal Pharma, a joint company with Fresenius Medical Care; Relypsa; and OM Pharma. Vifor Pharma Group is listed on the Swiss Stock Exchange (SIX Swiss Exchange, VIFN, ISIN: CH0364749348). For more information, visit www.viforpharma.com.
ChemoCentryx is a biopharmaceutical company developing new medications targeted at inflammatory and autoimmune diseases, and cancer. ChemoCentryx targets the chemokine and chemoattractant systems to discover, develop and commercialize orally-administered therapies. ChemoCentryx is currently focusing on its late stage drug candidates for patients with rare kidney diseases.
ChemoCentryx cautions that statements included in this press release that are not a description of historical facts are forward-looking statements. Words such as "may," "could," "will," "would," "should," "expect," "plan," "anticipate," "believe," "estimate," "intend," "predict," "seek," "contemplate," "potential," "continue" or "project" or the negative of these terms or other comparable terminology are intended to identify forward-looking statements. These statements include statements regarding the ability to expedite development of CCX140 based on the receipt of orphan drug designation. The inclusion of forward-looking statements should not be regarded as a representation by ChemoCentryx that any of its plans will be achieved. Actual results may differ from those set forth in this release due to the risks and uncertainties inherent in the ChemoCentryx business and other risks described in ChemoCentryx's filings with the Securities and Exchange Commission ("SEC"). Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and ChemoCentryx undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. Further information regarding these and other risks is included under the heading "Risk Factors" in ChemoCentryx's periodic reports filed with the SEC, including ChemoCentryx's Annual Report on Form 10-K filed with the SEC on March 12, 2018 and its other reports which are available from the SEC's website (www.sec.gov) and on ChemoCentryx's website (www.chemocentryx.com) under the heading "Investors." All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.