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SK Biopharmaceuticals to sell Arvelle Therapeutics stake to Angelini Pharma

2021.01.04
페이스북에 뉴스 공유하기(새창) 트위터에 뉴스 공유하기(새창)

SK Biopharmaceuticals to sell Arvelle Therapeutics stake as part of Angelini Pharma’s acquisition of Arvelle Therapeutics

 

Italian privately held company Angelini Pharma to acquire Arvelle Therapeutics,

taking over Arvelle’s cenobamate commercialization rights for up to $960 million

 

SK Biopharmaceuticals to realize capital gains of up to $55 million through share sale,

remains eligible for milestone payments of $430 under licensing agreement

 

SK Biopharmaceuticals, Angelini Pharma to collaborate on launching cenobamate in 41 European countries

 

Pangyo, Gyeonggi Province, Korea, Jan. 4, 2021 – SK Biopharmaceuticals, a global innovative pharmaceutical company, announced that it has agreed to sell its 12% stake in Arvelle Therapeutics to Angelini Pharma, an international pharmaceutical company of the Italian privately held Angelini Group, as part of Angelini Pharma’s $960 million acquisition of 100% of the stock of Arvelle Therapeutics. 

 

Following the takeover of Arvelle Therapeutics, Angelini Pharma will have the rights to commercialize cenobamate in 41 countries in Europe. Angelini Pharma will also assume all obligations, including $430 million in milestone payments to SK Biopharmaceuticals, under a licensing agreement sealed between SK Biopharmaceuticals and Arvelle in 2019. This agreement came with an upfront payment of $100 million to SK Biopharmaceuticals, as well as royalties on net sales generated in Europe.


SK Biopharmaceuticals will also receive an upfront payment of about $32 million, with an additional $23 million in regulatory and sales milestone payments, totaling up to approximately $55 million through the 12% share sale. Prior to entering into the share sale, SK Biopharmaceuticals exercised its warrant through which it had obtained a 12% stake in Arvelle.


Cenobamate is a treatment for focal-onset seizures discovered and developed by SK Biopharmaceuticals and its U.S. subsidiary, SK life science that received U.S. FDA approval in 2019, and is awaiting approval from the European Medicines Agency.


SK Biopharmaceuticals will strengthen its global business portfolio through organic and inorganic growth, while closely collaborate with Angelini Pharma, which has centennial experience in developing medicines through its strong global R&D and marketing platforms, to help prepare for the upcoming European commercial launch of cenobamate.


“We are delighted to start a new working relationship with Angelini Pharma that will enable all of us to move a step forward in launching cenobamate in Europe as promised to the epilepsy community,” said Dr. Jeong Woo Cho, CEO of SK Biopharmaceuticals. “This marks the beginning not only of our new relationship but also the year of our European entry. SK Biopharmaceuticals will continue its efforts with our partners to provide a new treatment option to patients worldwide.”


“At Angelini Pharma, we are thrilled to sign this promising agreement. This transaction, which has been made possible thanks to the commitment and the full support of the new generation of Angelini shareholders, will propel us into a leading European player, well positioned to address the needs of patients with different Central Nervous System disorders through innovative portfolio, distinctive medical capabilities and extensive commercial presence, also via the opening of direct affiliates in France, UK, Nordics and Switzerland by 2022,” says Pierluigi Antonelli, CEO of Angelini Pharma. “We are enthusiastic as well for the work that our colleagues at Arvelle Therapeutics have put in place during last years as we share the same patient-centric culture and agility attitude.”

 

About SK Biopharmaceuticals Co., Ltd.
SK Biopharmaceuticals and its U.S. subsidiary SK life science are global pharmaceutical companies focused on the research, development and commercialization of treatments for disorders of the central nervous system (CNS). The companies have a pipeline of eight compounds in development for the treatment of CNS disorders, including epilepsy. Additionally, SK Biopharmaceuticals is focused on early research in oncology. For more information, visit SK Biopharmaceuticals’ website at www.skbp.com/eng and SK life science’s website at www.SKLifeScienceInc.com.
Both SK Biopharmaceuticals and SK life science are part of SK Group, one of the largest conglomerates in Korea. SK Holdings, the parent company of SK Biopharmaceuticals, continues to enhance its portfolio value by executing long-term investments with a number of competitive subsidiaries in various business areas, including pharmaceuticals and life science, energy and chemicals, information and telecommunication, and semiconductors. In addition, SK Holdings is focused on reinforcing its growth foundations through profitable and practical management based on financial stability, while raising its enterprise value by investing in new future growth businesses. For more information, please visit http://hc.sk.co.kr/en/.


About Angelini Holding
Angelini Holding is the parent company of an international group operating in the pharmaceutical and consumer goods sectors. Founded in Italy in 1919, today Angelini group operates in 17 countries with a staff of 5,600 and a turnover of €1,7 billion. In addition to the Pharmaceutical sector, Angelini group operates in Personal and Home Care business area through Fater, a joint venture with Procter & Gamble, in the Machinery field, again in joint venture with P&G, with the group operating in automation and robotics for the consumer goods industry Fameccanica, in Perfumery and Skincare and Suncare with Angelini Beauty and in the Wine sector through Bertani Domains. Angelini Holding has recently entered the Baby food market as well through MadreNatura, a joint venture with Hero Group, which offers 100% organic baby food products.


About Angelini Pharma
Angelini Pharma is an international pharmaceutical company, part of the Italian privately-owned Angelini Group. Angelini Pharma is committed to helping patients in the therapeutics areas of Mental Health (including Pain), Rare Diseases and Consumer Healthcare. Over the past 50 years, in the field of mental health, Angelini Pharma has gained international recognition for its substantial efforts to improve the management of patients with mental health conditions thanks to important, internally developed, molecules (such as trazodone) and its commitment to fighting mental health stigma. Angelini Pharma operates directly in 15 countries employing almost 3.000 people and commercializes its products in more than 50 countries through strategic alliances with leading international pharmaceutical groups.


About Arvelle Therapeutics
Arvelle Therapeutics is an emerging biopharmaceutical company focused on bringing innovative solutions to patients suffering from CNS disorders. Arvelle is responsible for the development and commercialization of cenobamate, an investigational antiepileptic drug, in the European market. Arvelle is headquartered in Switzerland and received start-up financing of $207.8 million, one of the largest initial financing commitments for a European-focused biopharmaceutical company, with investments from a global syndicate including NovaQuest Capital Management, BRV Capital Management, LSP, H.I.G. BioHealth Partners, Andera Partners, F-Prime Capital and KB Investments. More information is available at www.arvelletx.com.


About Cenobamate
Cenobamate was discovered and developed by SK Biopharmaceuticals and SK life science. While the precise mechanism by which cenobamate exerts its therapeutic effect is unknown, it is believed to reduce repetitive neuronal firing by inhibiting voltage-gated sodium currents. It is also a positive allosteric modulator of the γ-aminobutyric acid (GABAA) ion channel.
Cenobamate is approved in the United States as an anti-seizure medication (ASM) for the treatment of partial-onset seizures in adults, and is available under the brand name XCOPRI® (cenobamate tablets) CV. In early 2019, SK Biopharmaceuticals entered into an exclusive licensing agreement with Arvelle Therapeutics GmbH to develop and commercialize cenobamate in Europe. In October 2020, SK Biopharmaceuticals sealed an exclusive licensing agreement with Ono Pharmaceutical to develop and commercialize cenobamate in Japan.
XCOPRI® is a registered U.S. trademark of SK Biopharmaceuticals Co., Ltd.

 

Media Contacts:

SK Biopharmaceuticals
H. Park
Head of Communications
skbp_comm@sk.com

 

Angelini Holding
Alessandra Favilli
Head of External Relations
alessandra.favilli@angeliniholding.com

 

Angelini Pharma
Daniela Poggio
Head of Communications
daniela.poggio@angelinipharma.com

 

Havas PR
Corrado Tomassini
Vice President
corrado.tomassini@havaspr.com

 

Arvelle Therapeutics
Juan Vergez
Head of Marketing and Corporate Communications
Juan.Vergez@arvelletx.com

 

Consilium Strategic Communications (international strategic communications)
Mary-Jane Elliott/Susan Stuart/Alex Harrison/Lindsey Neville
arvelletherapeutics@consilium-comms.com

 

 

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SK Biopharmaceuticals Co., Ltd. Privacy Policy

SK Biopharmaceuticals Co., Ltd. (“Company”) is dedicated to complying with privacy regulations in pursuant of applicable laws and committed to protecting your privacy and personal information by setting a privacy policy in compliance with applicable laws. The Company may, in its discretion, amend this Privacy Policy according to changes in applicable laws and management.

1. Collection, Purpose, and Use of Personal Information

The Company collects only the minimum amount of personal information required to provide our services, and the collected personal information will only be used for the purposes stated in this policy. Your personal information is not used for any other purposes or disclosed to an outside source without prior authorization.

  • Purpose of collection : To review customer inquiries, contact customers to verify inquiry, reply, notify results.
  • Collected information : Required : email, name
  • Collected information : Optional : phone number, interests, nationality, company name, profession.
  • Method of collection : Collection through inquiries made through the website’s contact us section

2. Disclosure of Personal Information to Third Party

The Company uses the provided personal information only for the purposes stated in Article 1, and does not use your personal information or disclose such information to a third party without prior authorization. However, exceptions are provided if Company receives disclosure requests in accordance with procedures designated by the law. The following are examples of such exceptions.

  • Request that follows the procedure and method designated by provisions of the law
  • Request from investigative agencies that follow the procedure and method designated by the law for the purpose of investigation

3. Retention and Storage Period of Personal Information

The Company immediately destroys personal information a year after achieving the purpose of collection. However, if storage is necessary in accordance with applicable laws, the Company may store personal information for a period of time required by such law.

4. Destruction Procedure and Method of Personal Information

1. Destruction Procedure

  • In the event the Company no longer needs to maintain the personal information such as when the retention period has expired or the Company has achieved the information’s purpose, the Company shall immediately destroy such personal information.
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2. Destruction Method

  • Personal information that is printed on paper shall be destroyed by being shredded or incinerated.
  • Personal information that is stored in electronic formats will be destroyed through technical methods in which records cannot be reproduced.

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1. You may at any time make the following requests to exercise your privacy rights.

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  • Request to withdraw agreement/delete information
  • Request to cease operation

2. To exercise the rights stated in Article 5-1, you may state the request through a written statement, email, or fax, and the Company shall promptly execute the request upon receipt.

3. If the Company receives a request from the information provider to revise or delete personal information for any reason including error, the Company shall not use or provide personal information until the revision or deletion is completed.

4. You may exercise the rights stated in Article 5-1 through a delegated figure (“Agent”). However, in order for Agent to exercise the rights of information provider, Agent must submit a letter of attorney completed by the information provider.

5. The Company does not collect personal information from minors in principle. However, in the event that the collection of personal information from a minor is inevitable through 1:1 inquiry, the Company shall seek agreement from a legal representative and immediately destroy the information once the information’s purpose has been achieved or the authorized retention period has expired.

6. Measures to Secure Safety of Personal Information

The Company has established and is operating the following technical and managerial security measures to ensure that the collected personal information is not lost, stolen, leaked, falsified, or damaged.

1. Managerial Security Measures

  • The Company has established and is operating internal security plans in regards to privacy.

2. Technical Security Measures

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  • The Company has appointed the minimum number of representatives that have access to personal information and conducts regular internal training sessions. The training of such representatives is held on a strictly confidential basis and the Company prescribes clear responsibilities in accidents regarding personal information to all current and former employees.

7. Contacts of Personal Information Manager and Representative

To protect the personal information provided to us and handle complaints and inquiries from information providers regarding their personal information, the Company has designated the following department and representative in charge of protecting personal information.

  • Personal Information Representative and Department : Wan-ho Nam, SK Biopharmaceuticals Business Strategy Team, Business Management Manager
  • Phone : +82-31-8093-0114
  • Email : skbp@sk.com

8. Amendment and Notice of Privacy Policy

1. This Privacy Policy takes effect starting July 1, 2018.

2. In the event of any future addition, deletion, revision, and such amendments to the privacy policy following changes in applicable laws or security technology, the Company will notify the purpose and contents of the amendment on the Company’s website at least a week prior to enacting the amended privacy policy.

Date of notice and enactment: July 1, 2018