Molecular Partners announces execution of option by Janssen in multispecific DARPin collaboration

Zürich-Schlieren, Switzerland, 09 December, 2014. Molecular Partners announced today that Janssen Biotech, Inc. (“Janssen”) has exercised an option to secure exclusive rights to a multi-specific DARPin program. As a compensation for the option exercise, Molecular Partners will receive a milestone payment of USD 2 million.

Molecular Partners had initiated the agreement with Janssen in December 2011 to develop therapies in the area of immunology. Within this collaboration Janssen has evaluated DARPins against several targets thought to be important for the treatment of inflammatory and auto-immune diseases.

As part of the overall agreement, Molecular Partners has received upfront fees and research funding and can further receive license payments as well as development and sales milestones totaling up to a maximum of USD 200 million for each product optioned. Upon commercialization, Molecular Partners will be entitled to a tiered and up to double-digit royalty on worldwide net sales. Further, Molecular Partners retains the rights to develop assets not optioned by Janssen during the research collaboration.

Christian Zahnd, CEO of Molecular Partners says: “We are very happy about the significant progress in our collaboration with Janssen. The DARPin platform allows for the potential to generate differentiated drug candidates, combining multiple therapeutic effects in one molecule.” 

It is Molecular Partners’ business model to collaborate with leading pharmaceutical companies to leverage the full potential and reach of its innovative multi-benefit DARPin platform. These partnerships are designed to enable the discovery and development of breakthrough therapies, creating value for our partners and Molecular Partners – and ultimately bringing improved health outcomes to patients with serious diseases.

Patrick Amstutz, COO of Molecular Partners adds: “Our close collaboration with Janssen combines their outstanding expertise in immunology with our own capabilities on the DARPin platform to create innovative product concepts for potential patient benefit.”

Total offer size of IPO reaches CHF 106.2 million after partial exercise of IPO over-allotment option

Zurich-Schlieren, December 5, 2014. Molecular Partners AG announces that the total offer size of the initial public offering (“IPO”) amounts to CHF 106.2 million, of which gross proceeds from the primary shares issued are CHF 104.1 million. The Joint Bookrunners of Molecular Partners’ IPO have partially exercised the over-allotment option yesterday at the offer price of CHF 22.40 per share.

Including the exercise of the over-allotment option of 340,140 new registered shares, the IPO resulted in the issuance of a total of 4,740,140 shares, corresponding to 24.1% of the share capital. The aggregate number of shares in issue after the partial exercise of the over-allotment option is 19,640,450 registered shares with a nominal value of CHF 0.10 each. The free float therefore amounts to 24.3%.

J.P. Morgan acted as the Sole Global Coordinator and Joint Bookrunner and UBS Investment Bank acted as Joint Bookrunner. Cowen and Company and Bank am Bellevue acted as Co-Managers in connection with the IPO.