Eckert & Ziegler to Financially Back Clinical Development of Innovative Lymphoma Treatment
Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700, S-DAX) will financially support the clinical development of two proprietary new radiopharmaceuticals for the diagnosis and treatment of malignant lymphomas. The Board of Directors today approved a first payment of 3 mm EUR in the context of an option agreement, which may lead, in the coming years and against milestones, to further payments of EUR 2 to 3 million annually. The money will support the production of pharmaceutical grade material for phase-1 trials which have already been prepared by two investigator-lead academic consortia in France and Germany targeting several forms of myeloma and lymphatic leukemia. In addition, the funds will be used for the clinical development of a complementary diagnostic labeled with the radioisotope Gallium-68.
“Stepping up outlays for clinical development does not mean that Eckert & Ziegler is abandoning its self-financing, profit-oriented business model”, explained Dr. Andreas Eckert, Chairman of the Executive Board. “Rather, we are leveraging our expertise in pharmaceutical radioisotopes in order to expand the market potential for our products, and to exploit interesting profit opportunities. In the past, we have already invested in a similar manner in companies such as OCTREOPHARM SCIENCES, CURASIGHT, IRT-SYSTEMS and MYELO THERAPEUTICS, and on average achieved a solid return on investment”.
Since the expenses will be booked as a financial investment and accounted for “at equity”, only the respective profit or loss transfers will appear in future balance sheets, but not the corresponding increase in development expenses.
About Eckert & Ziegler.
Eckert & Ziegler Eckert & Ziegler Strahlen- und Medizintechnik AG with more 800 employees, is one of the world’s largest providers of isotope-related components for radiation therapy and nuclear medicine. Eckert & Ziegler shares (ISIN DE0005659700) are listed in the SDAX index of Deutsche Börse.
Contributing to saving lives.