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Xlife Sciences AG / Key word(s): IPO/Market launch Zurich, 16th of December 2024: Xlife Sciences AG (SIX: XLS) announces the planned listing of its portfolio company, VERAXA Biotech AG, on the NASDAQ Stock Market, New York, USA, following the unanimous resolution passed at the Regular Board Meeting on December 13, 2024. The listing is scheduled for fiscal year of 2025 and will be executed in collaboration with an experienced consortium and selected institutional investors. VERAXA Biotech AG, a Suisse-headquartered biopharmaceutical company with R&D operations in Heidelberg, Germany, specializes in the development of next-generation antibody drug-candidates (ADCs) and bispecific T cell engagers. Both drug classes have the potential to bring transformational improvements to cancer medicine at large and have been at the heart of significant licensing and M&A activity in recent years in the industry. VERAXA Biotech AG is on a promising growth path and intends to out-license or partner its first assets in 2025. Oliver R. Baumann, CEO of Xlife Sciences AG, commented: «The planned listing of VERAXA Biotech on the US NASDAQ Stock Exchange is a strategic decision to accelerate the growth of the company and its pipeline. Interest in the pharmaceutical industry and the medical community in such novel cancer therapies remains very high. VERAXA aims to position itself at the forefront of the continued evolution of these therapies and aims to bring products to market that are both highly effective and much safer to use compared to today’s standard of care. In addition, this important milestone represents another successful exit for our valued shareholders and demonstrates the quality and value of our portfolio.» VERAXA Biotech resulted from a merger between Velabs Therapeutics GmbH and Araxa Biosciences GmbH in 2021, both spin-out companies from the European Molecular Biology Laboratory (EMBL), Heidelberg, one of Europe’s most renowned institutes for life science research and technology development. The company has grown its therapeutic pipeline organically, via partnerships and through the acquisition of a clinical-stage program to address certain blood-borne cancers in 2023. In 2024, VERAXA has launched its novel BiTAC technology, a patented novel strategy to increase the safety and efficacy of future cancer therapies and signed a research collaboration to develop novel radiopharmaceuticals enabled by its proprietary click-chemistry platform.
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Contact Xlife Sciences AG, End of Inside Information |
| Language: | English |
| Company: | Xlife Sciences AG |
| Talacker 35 | |
| 8001 Zürich | |
| Switzerland | |
| Phone: | +41 44 385 84 60 |
| E-mail: | info@xlifesciences.ch |
| Internet: | www.xlifesciences.ch |
| ISIN: | CH0461929603 |
| Valor: | A2PK6Z |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 2051385 |
| End of Announcement | EQS News Service |
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2051385 16-Dec-2024 CET/CEST
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