XLIFE-SCIENCES-AG
Xlife Sciences AG: Exit of a project company
Xlife Sciences AG has successfully realized its 60% stake of the project company Araxa Biosciences GmbH in Veraxa Biotech AG (formerly Velaxa AG). This transaction has a total value of more than 20 million euros and Xlife Sciences AG will now become a part of the Board of Directors of Veraxa as a minority shareholder. Veraxa Biotech AG is positioned as a leading provider in the identification and development of functional antibodies and drug conjugates.
Xlife Sciences AG will exceed its earnings expectations for 2020 with this first completed transaction since founding of the company. Araxa Biosciences GmbH was a spin-off from the European Molecular Biology Laboratory EMBL in Heidelberg and was founded by Xlife Sciences AG in summer 2019. Over the past one and a half years, Xlife has invested nearly one million euros in the company. In collaboration with various industry experts, the technological development of Araxa has been successfully advanced.
About Veraxa Biotech AG
Veraxa Biotech AG identifies and develops functional antibodies and antibody drug conjugates (ADC's) for the bio- and pharmaceutical industry in exchange for license agreements. The aim is to accelerate the safe development of medical drugs, as well as to enhance the probabilities of drug developments in various clinical phases. Using this technology, Veraxa Biotech AG can screen millions of b-cells in one single step in less than 48 hours for functional antibodies and additionally also modify them with drug conjugates.
About Xlife Sciences AG
Xlife Sciences AG is a Swiss company with focus on investing in promising technologies in the life science industry. Xlife Sciences AG is building the bridge from research and development to healthcare markets by supporting researchers and entrepreneurs in positioning, structuring, developing and implementing their concepts. Together with industrial partners or universities, Xlife Sciences AG leads projects through the proof-of-concept phase after an invention disclosure or start-up. Subsequently, the firm focuses on out-licensing or selling the company, often with a combination of a strategic partnership. Xlife Sciences AG offers its investors direct access to the further development of innovative and future-oriented technologies at a very early stage. For more information, please visit: www.xlifesciences.ch
View source version on businesswire.com: https://www.businesswire.com/news/home/20201223005137/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CA-VERIMATRIX20.1.2021 17:47:05 CET | Press release
Verimatrix Releases Advanced Code Protection Service for Android Application Bundles
LG-CHEM20.1.2021 15:02:14 CET | Press release
LG CHEM TO SEEK INNOVATIVE IDEAS FOR SUSTAINABLE TECHNOLOGIES WORLDWIDE THROUGH 3rd GLOBAL INNOVATION CONTEST
H.I.G.-CAPITAL20.1.2021 14:22:08 CET | Press release
H.I.G. Capital Sells RGIB's Bathroom Furniture Division to Roca
THALES20.1.2021 10:02:11 CET | Press release
Thales NS50 Radar to Equip the Belgium Navy and the Royal Netherlands Navy Next Generation Mine Counter Measures Vessels (MCMV)
SMARTSTREAM20.1.2021 10:02:11 CET | Press release
SmartStream Reveal Their Latest API Suite With a Complete Range of Reference Data Services
CA-ANDERSEN-GLOBAL20.1.2021 09:47:08 CET | Pressemeddelelse
Andersen Global får repræsentation i Malawi
DAIICHI-SANKYO-COMPANY20.1.2021 08:02:14 CET | Press release
ENHERTU® Approved in the EU for the Treatment of HER2 Positive Metastatic Breast Cancer
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom