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April 26, 2015 3:26 AM ET

Biotechnology

Company Overview of CureTech Ltd.

Company Overview

CureTech Ltd., a biotechnology company, develops immune modulating products for the treatment and control of cancer. It offers CT-011, a humanized monoclonal antibody that interacts with PD-1, a B7 receptor-family-associated protein, and exhibits efficient anti-cancer immune response against a range of mouse and human tumors. The company was founded in 2001 and is based in Yavne, Israel.

42 Hayarkon Street

Yavne,  81227

Israel

Founded in 2001

Phone:

972 8 932 4000

Fax:

972 8 932 4001

Key Executives for CureTech Ltd.

Chief Executive Officer
Vice President of Finance
Head of Clinical Development
Vice President of Research & Development
Compensation as of Fiscal Year 2014.

CureTech Ltd. Key Developments

Medivation, Inc. Exercises its Option Under the Terms of the License Agreement with CureTech

Medivation, Inc. announced that it has exercised its option under the terms of the license agreement announced on October 23, 2014, for pidilizumab (CT-011), an immune modulatory anti-PD-1 monoclonal antibody from CureTech Ltd. Under the license agreement, Medivation will be responsible for all development, regulatory and commercialization activities for pidilizumab for all indications, including oncology. The agreement includes a guaranty with respect to certain obligations of CureTech by Clal Biotechnology Industries Ltd. (CBI). The guaranty has been approved by CBI shareholders. Under the terms of the license agreement, CureTech will receive an upfront payment of $5.0 million from Medivation and would also be entitled to payments upon the attainment of certain development and regulatory milestones totaling up to $85 million. In addition, CureTech would be eligible to receive sales-based milestone payments totaling up to $245 million upon the achievement of certain annual worldwide net sales thresholds and tiered royalties ranging from 5%-11% based on annual worldwide net sales.

Medivation Licenses Exclusive Worldwide Rights to CureTech Ltd.'s Late-Stage Clinical Molecule Pidilizumab

Medivation Inc. and CureTech Ltd. announced Medivation has licensed exclusive worldwide rights to CureTech's late-stage clinical molecule pidilizumab (CT-011), an immune modulatory anti-PD-1 monoclonal antibody. Under the license agreement, Medivation will be responsible for all development, regulatory and commercialization activities for pidilizumab for all indications, including oncology. The arrangement with CureTech also includes a manufacturing and supply agreement, under which CureTech will manufacture and supply the antibody to Medivation over the next 3 years for clinical development purposes. In addition, the arrangement contemplates a guaranty agreement between Medivation and CureTech's shareholder -- Clal Biotechnology Industries Ltd. with respect to certain obligations of CureTech. The guaranty is subject to approval by CBI shareholders. If approval of the guaranty agreement is not obtained, Medivation has the option to terminate both the license agreement and the manufacturing and supply agreement or proceed with such agreements on reduced economic terms (that is a reduction of $2 million in the upfront payment and 1% from each tier of royalties). The shareholder vote on the guaranty and Medivation's exercise of its option to continue to maintain the license are expected to occur in December 2014. Under the terms of the license agreement, and depending on whether the guaranty from CBI is obtained, CureTech would receive an upfront payment of up to $5.0 million from Medivation and would also be entitled to payments upon the attainment of certain development and regulatory milestones totaling $85 million. In addition, CureTech would be eligible to receive sales based milestone payments totaling up to $245 million, upon the achievement of certain annual worldwide net sales thresholds, and tiered royalties ranging from 4%-11% based on annual worldwide net sales.

CureTech Ltd. Presents at Biotech Showcase 2014, Jan-15-2014 08:00 AM

CureTech Ltd. Presents at Biotech Showcase 2014, Jan-15-2014 08:00 AM. Venue: Parc 55 Wyndham Union Square Hotel, San Francisco, California, United States. Speakers: Michael Schickler, Chief Executive Officer.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 23, 2014
CureTech Ltd., Worldwide Licensing Rights of Pidilizumab (CT-011)
 

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