News
Advanced Accelerator Applications Signs Exclusive License Agreement with Cancer Targeted Technology to Develop CTT1057, an F-18 Labeled PSMA Ligand for Diagnostic Applications in Prostate Cancer
AAA today announced that it has entered into an exclusive worldwide license agreement with Cancer Targeted Technology, LLC (CTT) to develop and market an investigational new drug product, F-18-labeled CTT1057. CTT1057 is a ligand of Prostate-Specific Membrane Antigen (PSMA) for Positron Emission Tomography (PET) imaging of prostate cancer.
CTT has developed a phosphoramidate-based peptide, which specifically binds to PSMA. A Phase I study in 20 patients was conducted at the University of California, San Francisco. AAA will work to further develop and commercialize this diagnostic agent for prostate cancer. The terms of the agreement include an upfront licensing fee, as well as certain milestone and royalty payments.
Advanced Accelerator Applications Announces Completion of Subsequent Offering Period for Novartis Tender Offer
AAA, a Novartis company and a leader in nuclear medicine theragnostics, today announced that a subsidiary of Novartis AG (NYSE: NVS) (“Novartis”), Novartis Groupe France S.A. (“Purchaser”), has completed the subsequent offering period of the tender offer to purchase all of the outstanding ordinary shares (“Ordinary Shares”), including Ordinary Shares represented by American Depositary Shares (“ADSs”), of AAA for a price of USD 41.00 per Ordinary Share and USD 82.00 per ADS, in each case, payable net to the seller in cash, without interest (the “Offer”). The subsequent offering period for the Offer, which commenced on January 22, 2018, expired as scheduled at 12:00 midnight, New York City time, on January 31, 2018. According to Novartis, The Bank of New York Mellon, as ADS tender agent for the Offer, and Banque Transatlantique S.A., as Ordinary Shares agent for the Offer, have advised that, as of the expiration of the subsequent offering period, 95,127,753 Ordinary Shares (including Ordinary Shares represented by ADSs) were validly tendered during the initial offering period and the subsequent offering period taken together, representing approximately 98.7% of all outstanding Ordinary Shares (including Ordinary Shares represented by ADSs). Purchaser has accepted for payment and has promptly paid (or will promptly pay) for all Ordinary Shares and ADSs validly tendered during the subsequent offering period.