GlobeNewswire

Hyloris Successfully Renegotiates License Agreements for Lead Products with the Alter Pharma Group

Share

  Acquires all royalty rights to Maxigesic® IV

Assumes sole responsibility for HY-075 and HY-038 – future profit split lapses

Gains higher net profit margin for Fusidic Acid Cream in Canada

Hyloris CEO and CBDO to resign from the Board of Directors of Alter Pharma


Liège,
Belgium – 24June 2021Hyloris Pharmaceuticals SA (Euronext Brussels: HYL), a specialty biopharma company committed to bringing innovative treatments that offer added value to underserved patient populations, today announces that it has successfully renegotiated and unwound its earlier license agreements with the Alter Pharma Group. Hyloris will pay the Alter Pharma Group a total lump sum of €5.25 million plus €0.5 million potential earn-out, thereby waiving any further future financial obligations towards the Alter Pharma Group.

Hyloris Pharmaceuticals and the Alter Pharma Group have amended and unwound the earlier license agreements as follows:

  • The patent and knowhow license agreement in relation to Maxigesic IV has been altered to forego all past commitments and all further future royalty obligations to the Alter Pharma Group in relation to Maxigesic IV. Maxigesic IV (a unique combination of 1000 mg paracetamol and 300 mg ibuprofen solution for infusion) is a novel, patented, non-opioid pain treatment, and is being commercialised by Hyloris’ partner AFT Pharmaceuticals. It is currently licensed in >100 countries and marketed in 3 countries.
  • The development agreements in relation to HY-075 and HY-038: Hyloris assumes sole responsibility for the development of i) HY-075, a novel, oral liquid formulation of a commonly used drug to treat coronary heart disease; and ii) HY-038, a prefilled syringe of a commonly used product to treat a specific deficiency. Hyloris continuous to bear all costs in relation to the development of these product candidates but will no longer have to split with the Alter Pharma Group the future profit in relation to these products.
  • The license agreement in relation to Fusidic Acid Cream in Canada: Hyloris continues to keep all rights to Fusidic Acid Cream in Canada but will gain a higher share of net profit as the margin paid to the Alter Pharma Group by their co-development partner will be transferred to Hyloris. There is currently no generic equivalent in Canada of Fucidin® cream 2%, a topical drug containing fusidic acid indicated for the treatment of primary and secondary bacterial skin infections. Fusidic Acid Cream, part of Hyloris’ high-barrier generics portfolio, has recently entered clinical development. Hyloris intends to seek a commercial partner in Canada closer to the submission of the candidate product.

Stijn Van Rompay, Chief Executive Officer of Hyloris, commented: This is a major achievementfor our Company as we will no longer have any further future financial obligations towards the Alter Pharma Group, and moreover, itresolves any potential risks in relation to conflicts of interestand related party transactions.It is also financially attractive and enables us to fully focus on executing our business strategy. We look forward to further progressing our innovative pipeline and to bringing our product candidates to underserved patient populations, with the goal to changeand improve therapy outcomes and add value to all stakeholdersof the healthcare system.

For further information on the renegotiated and unwound agreement with the Alter Pharma Group, please consult the public announcement in accordance with Article 7:97, §4/1 of the Code of Companies and Associations, which is available on the Hyloris website: https://investors.hyloris.com/corporate-governance/#docu.

About the arrangements with the Alter Pharma Group

The renegotiated and unwound agreements announced today are related to the arrangements outlined below that Hyloris Pharmaceuticals had with the subsidiaries of the Alter Pharma Group, including Generic Specialty Pharma, Nordic Specialty Pharma, Stasisport Pharma and Neogen Developments.

These arrangements included licensing agreements, asset purchase agreements, development agreements and patent and know-how agreements. The products associated with these arrangements were Maxigesic® IV, HY-075, Fusidic Acid Cream, HY-038, and HY-028 (no longer in development since prior to the IPO in 2020). Under the various transactional agreements between Hyloris and the subsidiaries of the Alter Pharma Group, Hyloris was required to pay these entities a combination of licensing fees, milestone payments and royalty payments.

About Hyloris Pharmaceuticals

Hyloris is a specialty biopharma company identifying and unlocking hidden potential in existing medications for the benefit of patients, physicians, and the healthcare systems. Hyloris applies its knowhow and technological innovations to existing pharmaceuticals and has built a broad, patented portfolio of 13 reformulated and repurposed value-added products that have the potential to offer significant advantages over currently available alternatives. Two products are currently commercialised with partners: Sotalol IV for the treatment of atrial fibrillation, and Maxigesic® IV, a non-opioid post-operative pain treatment. The Company’s development strategy primarily focuses on the FDA’s 505(b)2 regulatory pathway, which is specifically designed for pharmaceuticals for which safety and efficacy of the molecule have already been established. This pathway can reduce the clinical burden required to bring a product to market, and significantly shorten the development timelines and reduce costs and risks. Hyloris is based in Liège, Belgium. For more information, visit www.hyloris.com and follow-us on LinkedIn.

For more information, please contact Hyloris Pharmaceuticals:

Marieke Vermeersch
VP Investor Relations and Corporate Communications
M: +32 (0)479 490 603
marieke.vermeersch@hyloris.com



Disclaimer and forward-looking statements

Hyloris means “high yield, lower risk”, which relates to the 505(b)(2) regulatory pathway for product approval on which the Issuer focuses, but in no way relates or applies to an investment in the Shares.
Certain statements in this press release are “forward-looking statements.” These forward-looking statements can be identified using forward-looking terminology, including the words "believes", "estimates," "anticipates", "expects", "intends", "may", "will", "plans", "continue", "ongoing", "potential", "predict", "project", "target", "seek" or "should", and include statements the Company makes concerning the intended results of its strategy. These statements relate to future events or the Company’s future financial performance and involve known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s control, that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. The Company undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by law.

Attachment

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

Beter Bed Holding announces the issue of 946,167 new ordinary shares23.7.2021 18:00:00 CEST | Press release

Beter Bed Holding N.V. (“BBH” ISIN NL0000339703), the Netherlands’ leading sleep specialist in retail, wholesale and B2B, announces the issue of 946,167 new ordinary shares of the Company against an issue price of € 6.82. The issue of shares is meant to remediate the impact on the Company’s solvency from the repayment of the perpetual loan, as announced in the interim results press release dated 21 July 2021. The net proceeds of the Offering will be used to strengthen our financial position and to provide the Company with the financial flexibility to accelerate the execution of its growth strategy 2025 as presented during the AGM of 12 May 2021. The increased attention for health and well-being, due to COVID-19, is expected to lead to increased demand for quality sleep as one of the three pillars of health. The investment program driven by our strategy is starting through the launch of a new shop format, subscription label Leazzzy, investments in data analytics and acceleration of onli

Arcadis reports transactions under its current share buyback program23.7.2021 12:00:00 CEST | Press release

Amsterdam, July 23, 2021 – Arcadis (EURONEXT: ARCAD), the leading global Design & Consultancy organization for natural and built assets, has repurchased 91.282 of its own shares in the period from 16 July up to and including 22 July 2021 at an average price of €34.59. The consideration of this repurchase was €3.2 million. The repurchase is in accordance with the share buyback program to cover existing obligations under employee incentive plans and to cover commitments for stock dividend, as announced on 19 February 2021. The total number of shares repurchased under this program to date is 1.7 million shares for a total consideration of €56.0 million. For more detailed information see: https://www.arcadis.com/en/global/investors/share-information/share-buyback-program/ -End- Improving quality of life FOR FURTHER INFORMATION PLEASE CONTACT: ARCADIS INVESTOR RELATIONS Jurgen Pullens Mobile: +31 6 51599483 E-mail: jurgen.pullens@arcadis.com ABOUT ARCADIS Arcadis is the leading global desig

Vaisala Corporation Half Year Financial Report January–June 202123.7.2021 08:00:00 CEST | Press release

Vaisala Corporation Half Year Financial Report July 23, 2021 at 9.00 a.m. (EEST) Vaisala Corporation Half Year Financial Report January–June2021 Excellent growth continued in second quarter Secondquarter 2021 highlights Orders received EUR 120.1 (95.9) million, increase 25%Order book at the end of the period EUR 165.3 (145.3) million, increase 14%Net sales EUR 109.5 (91.4) million, increase 20%Operating result (EBIT) EUR 10.9 (7.9) million, 10.0 (8.7) % 0f net salesEarnings per share EUR 0.25 (0.16)Cash flow from operating activities EUR 11.1 (-1.1) million January–June 2021 highlights Orders received EUR 226.3 (185.6) million, increase 22%Net sales EUR 201.5 (178.6) million, increase 13%Operating result (EBIT) EUR 19.0 (13.1) million, 9.5 (7.3) % 0f net salesEarnings per share EUR 0.43 (0.27)Cash flow from operating activities EUR 29.4 (4.2) million Market development and businessoutlook for 2021 Market for high-end industrial instruments is expected to continue growth after strong re

FLOW TRADERS Q221 RESULTS23.7.2021 07:30:00 CEST | Press release

FLOW TRADERS Q221 RESULTS Amsterdam, the Netherlands - Flow Traders N.V. (Euronext: FLOW) announces its unaudited Q221 results and 2021 Half Year report. Highlights Market ETP Value Traded decreased 14% quarter-on-quarter and decreased 14% H121 vs H120Flow Traders ETP Value Traded decreased 15% quarter-on-quarter and decreased 6% H121 vs H120Flow Traders recorded NTI of €94.4m in Q221 reflecting a more normalised market environment. This compares to NTI of €142.2m in Q121 and €229.9m in Q220. H121 NTI was €236.6m vs €724.8m in H120Total operating expenses of €54.1m incurred in Q221 which includes €0.6m of one-off COVID-19 and business continuity plan-related expenses577 FTEs as at 30 June 2021 compared to 566 FTEs as at 31 March 2021Q221 EBITDA reached €40.3m with a margin of 43% contributing to H121 EBITDA of €119.6m with a margin of 51%Q221 Net Profit amounted to €28.7m with basic EPS of €0.66. H121 Net Profit amounted to €90.2m with basic EPS of €2.05IFR/IFD came into force on 26 Ju

Signify reports second quarter sales of EUR 1.6 billion, operational profitability of 10.9% and a free cash flow of EUR 104 million23.7.2021 07:00:00 CEST | Press release

Press Release July 23, 2021 Signify reports second quarter sales of EUR 1.6 billion, operational profitability of 10.9% and a free cash flow of EUR 104 million Second quarter 20211 Signify's installed base of connected light points increased from 83 million in Q1 21 to 862 million in Q2 21 Sales of EUR 1,609 million; 9.6% nominal sales growth and CSG of 14.1%LED-based sales represented 82% of total sales (Q2 2020: 80%)Adj. EBITA margin improved by 190 bps to 10.9%Net income increased to EUR 82 million (Q2 20: EUR 81 million)Free cash flow of EUR 104 million (Q2 20: EUR 158 million)Net debt/EBITDA ratio of 1.7x (Q2 20: 2.4x) Eindhoven, the Netherlands – Signify (Euronext: LIGHT), the world leader in lighting, today announced the company’s second quarter 2021 results. “In the second quarter we saw an acceleration of the pace of recovery in comparison to the first three months of the year. We successfully executed our strategy as demand for our connected lighting offers and our growth pla

Norsk Hydro: Andre kvartal 2021 – Rekordresultater og fortsatt positivt markedssentiment23.7.2021 07:00:00 CEST | Pressemelding

Norsk Hydro ASA rapporterte en justert EBITDA på 6.598 millioner kroner i andre kvartal 2021, en økning fra 2,794 millioner kroner i samme kvartal i fjor. Fortsatt oppgang i verdensøkonomien bidrar til økt etterspørsel etter aluminium og aluminiumprodukter. Forretningsområdene Hydro Aluminium Metal og Hydro Extrusions rapporterte rekordresultater for kvartalet. Rekordresultat i Aluminium Metal på grunnlag av økte priser og produktpremier på LMERobust drift, forbedringsprogrammet foran skjema Sterke prestasjoner i Extrusions og framdrift i vekstprosjekterStyrking av bærekraftposisjon med investeringer for vekst i resirkuleringSalget av forretningsområdet Hydro Rolling til KPS Capital Partners fullført Høyere all-in metallpriser og volumer i Aluminium Metal, bedre marginer og volumer i Extrusions og bedre resultater fra Hydro Energy bidro positivt til justert EBITDA. Disse positive elementene ble delvis utliknet av høyere råvarekostnader oppstrøms og negative valutaeffekter. Den globale

Norsk Hydro: Second quarter 2021 - Record results and continued positive market sentiment23.7.2021 07:00:00 CEST | Press release

Norsk Hydro ASA posted second-quarter 2021 adjusted EBITDA of NOK 6,598 million, up from NOK 2,794 million in the same quarter last year. Continued global economic recovery is supporting increased demand for aluminium and aluminium products. Hydro Aluminium Metal and Hydro Extrusions business areas reported record quarterly results. Record result in Aluminium Metal supported by LME prices and premiumsRobust operations, improvement program ahead of plan Strong performance in Extrusions and progress on growth initiativesStrengthening sustainability position with growth investments in recyclingSale of Hydro Rolling business area to KPS Capital Partners completed Higher all-in metal prices and volumes in Aluminium Metal, improved margins and volumes in Extrusions, and better results from Hydro Energy contributed positively to adjusted EBITDA. These positive elements were partly offset by higher raw material costs upstream and negative currency effects. The second quarter saw a continuation