Wilex jumps 43% on alliance with UCB
Shares in Wilex AG jumped 43% to 4 euros after Belgian drugmaker UCB said it would take shares in the German biotechnology firm as part of a strategic alliance.
The shares rose to a two-year high after UCB said it will transfer rights to its entire preclinical oncology portfolio - comprising two small molecules and three antibodies - to a new legal entity, which it will fund with 10.0 million euros ($13.6 million) in cash.
The entity will be acquired by Wilex for 1,818,181 newly-issued shares, subject to the exclusion of shareholders' subscription rights, providing UCB with a 13% stake in the German firm.
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