(Ad hoc press release)
Berlin, 27.07.2001. Eckert & Ziegler, a specialist for cardiovascular and cancer radiation sources, will acquire from NEMOD New Modalities Heilmittel GmbH, Berlin, the rights to a new generation of radiolabelled antibodies for the detection and treatment of various tumours. A decision by the Board of Directors on Thursday authorized expenditures of 3 Mio. EUR for phase I studies, expected to be completed within 24 months. The board also approved a closer alliance with NEMOD and other alliance partner. "With this decision, Eckert & Ziegler, will be able to leverage it isotope know how also for the development of therapeutic antibodies", explains CEO Dr. Andreas Eckert. "The new patented carbohydrate epitopes that we in-licensed from NEMOD promise to substantially change and improve the handling of various tumours. Since the epitopes can be found on a number of carcinomas and leukaemia, Eckert & Ziegler in principle will be able to develop a broad array of therapeutics. Also, the Antibodies against the tumour marker have already been developed, and will be available for preclinical and clinical investigations. Eckert & Ziegler will cover the phase I development cost from its operating cash flow. For 2001 Eckert & Ziegler expect revenues to top 30 mm EUR, and EBIT to reach 6 mm EUR. Radiotherapeutics for the treatment of cancer have seen an upsurge in interest in recent years, since antibodies can be used as precise transport vehicles for radioisotopes. Market studies estimate that the revenue volume for radiopharmaceuticals will grow to more 1.5 billion US$ by 2010.
The Board of Directors