Simris Group AB ("Simris" or the "Company") announces that it has entered into a new Memorandum of Understanding ("MoU") with Immunrise Biocontrol France SAS ("Immunrise") regarding the lease and subsequent acquisition of the Company's industrial site and related assets in Hammenhög, Sweden.
The new MoU represents a further step in the divestment process previously communicated by Simris and sets out the principal commercial terms for the lease and subsequent acquisition of the Hammenhög facility.
Under the MoU, the parties have agreed on a purchase price of EUR 1.0 million.
Pending completion of the acquisition, Immunrise will lease the facility and assume responsibility for operating costs associated with the site, as well as ongoing and routine maintenance of the buildings, installations and equipment. A separate lease agreement will set out the detailed terms of the lease.
Upon completion of the acquisition, 50% of the rental payments made by Immunrise from commencement of the lease until completion will be deducted from the purchase price.
Immunrise is currently pursuing a financing round and has undertaken under the MoU to complete the acquisition within three months following the closing of the financing round and receipt of the corresponding funds. The MoU provides Immunrise with exclusivity in relation to the acquisition until 30 September 2027, unless otherwise agreed between the parties.
Completion of the acquisition remains subject to satisfactory legal due diligence, final approval from Immunrise's financing partners and the execution of definitive agreements.
The divestment of the Hammenhög facility is consistent with Simris' strategy to focus its resources on the development of antibody-drug conjugates (ADCs) carrying novel, nature-sourced payloads for the treatment of cancer. The transaction represents another step in the Company's transition away from its legacy microalgae production activities and towards the development and commercialisation of its biopharmaceutical technology and ADC payload portfolio.
Daniel Kubitza, Interim CEO of Simris Group, commented:
"The agreement with Immunrise Biocontrol represents another important step towards completing the divestment of our Hammenhög facility. In addition to establishing clear commercial terms for the acquisition, the interim lease arrangement transfers the ongoing operation and maintenance of the facility to Immunrise while it completes its financing process. For Simris, the transaction supports our continued focus on developing novel, nature-sourced payloads for next-generation antibody-drug conjugates targeting cancer."
Simris will provide further updates as the transaction progresses.
About Immunrise Biocontrol
Immunrise Biocontrol is a French biotechnology group founded in 2015 that develops innovative solutions based on microalgae. Immunrise Biocontrol harnesses the biological diversity of microalgae and the properties of their molecules to develop applications in agriculture, agribusiness and healthcare.
By combining scientific research, technological development and production, Immunrise Biocontrol aims to transform these natural resources into high-performance and sustainable solutions addressing major future health and environmental challenges.
For more information, please contact:
Daniel Kubitza
Interim CEO of Simris Group AB
Tel: +33 6 71 04 21 52
Email: daniel.kubitza@simris.com
About Simris Group AB (PUBL):
Simris Group AB is developing antibody-drug conjugates based on clinically validated payload biology. The Company's lead programs use amanitin payloads, established biological targets and complementary therapeutic approaches, targeting both liquid and solid tumors.
www.simrisgroup.com
Simris Group's shares are traded on the Nasdaq First North Growth Market with the short name SIMRIS and ISIN code SE0008091664.
Certified Adviser is Amudova AB, telephone: 08-546 017 58, email: info@amudova.se.
