Biofrontera will yank shares from Nasdaq; Intellia and ONK collaborate on cancer candidates
German biopharma Biofrontera has decided to delist its shares from the Nasdaq and deregister its reporting obligations with the SEC in an attempt to reduce complexity in financial reporting and administrative costs.
The company’s ordinary shares will still be traded in the Prime Standard at the Deutsche Börse under the symbol B8F. American shareholders can choose to exchange their American Depositary Shares for ordinary shares on the Deutsche Börse, the company said in a release.
Investors will be allowed to continue to hold securities in the form of ADS and trade those on the US over-the-counter market, the company said.
“The ADSs will automatically transition to the new ADS program in connection with the delisting and will be traded under a new ticker to be designated,” Biofrontera said in a statement.
Intellia and ONK collaborate on cancer candidates
Ireland and Massachusetts have a long history of collaboration. Intellia and ONK Therapeutics will continue that legacy, as the two will team up to advance their CRISPR-edited natural killer cell therapies for treating cancer, the companies announced.
Intellia will grant ONK non-exclusive rights to its ex vivo CRISPR/Cas9-based genome editing platform and LNP delivery tech, and exclusive rights to certain guide RNAs for up to five allogeneic therapies. ONK will be responsible for the R&D and commercialization from the collaboration, and Intellia will receive global co-development and commercialization options for two therapies, as well as lead commercialization rights in the US.
The co-development deal excludes ONK’s lead product ONKT-102, developed for patients with refractory multiple myeloma.
Intellia is eligible for a payday of up to $184 million per product, and commercial milestones and royalty payments described as “mid-single digits” as well.
In a statement, ONK CEO Chris Nowers said:
We believe combining Intellia’s ex vivo genome editing and LNP delivery platforms with our suite of proprietary NK cell gene edits has the potential to create optimally engineered NK cells with enhanced cytotoxicity, persistence and an improved metabolic profile that hold tremendous promise to advance the treatment of both hematologic malignancies and solid tumors. We are excited to partner with Intellia and are looking forward to a collaboration that allows us to continue to deliver against our strategy, as we evolve into a clinical-stage company.