Copenhagen, 2012-01-05 15:08 CET (GLOBE NEWSWIRE) --
To NASDAQ OMX Copenhagen A/S
Announcement No. 01-12 / Copenhagen, January 5,
2012
The two announcements in question are specified
below. The full wording of the two announcements is
available on Topotarget's website, www.topotarget.com.
The content of this announcement does not change
Topotarget's full-year financial guidance for
2011.
Announcement 1 (no. 23-11 of December
16, 2011)
Heading:
Topotarget A/S announces the divestiture of Totect®
to Apricus Biosciences, Inc., and improves financial
expectations for 2011.
Summary:
Copenhagen, Denmark - December 16, 2011 - Topotarget
A/S (NASDAQOMX: TOPO.CO) has announced today that Apricus
Biosciences, Inc. has entered into an agreement to purchase
100% of the outstanding common stock of Topotarget A/S'
American subsidiary division, Topotarget USA, Inc. The
acquisition includes all Totect® North and South American
assets, including the Totect® sales team, and the US
trademark Totect®. Financial expectations for 2011 are
improved.
Announcement 2 (no. 24-11 of December
30, 2011)
Heading:
Topotarget A/S announces the completion of the
divestiture of Totect® to Apricus Biosciences, Inc.
Summary:
Copenhagen, Denmark - December 30, 2011 - Topotarget
A/S (NASDAQ-OMX: TOPO.CO) has today announced the
completion of Apricus Biosciences, Inc.'s purchase of
100% of the outstanding common stock of Topotarget A/S'
American subsidiary division, Topotarget USA, Inc. The
acquisition includes all Totect® North and South American
assets, including the Totect® sales team, and the US
trademark Totect®.
Topotarget A/S
For further information, please contact:
Francois Martelet, CEO: Direct: +45 39 17 83 43; Mobile: +45 51 32 83 41
Anders Vadsholt, CFO: Direct: +45 39 17 83 45; Mobile: +45 28 98 90 55
Background information
About Topotarget A/S
Topotarget (NASDAQ-OMX: TOPO.CO) is an international
biopharmaceutical company headquartered in Copenhagen,
Denmark, dedicated to clinical development and registration
of oncology products. Topotarget focuses, in collaboration
with Spectrum Pharmaceuticals, Inc., on the development in
pivotal studies of its lead drug candidate, belinostat,
which has shown positive results as a monotherapy treating
haematological malignancies and positive results in solid
tumours. Belinostat may be used in combination with full
doses of chemotherapy, and is in a pivotal trial within
PTCL (peripheral T-cell lymphoma). For more information,
please refer to www.topotarget.com.
Topotarget A/S Safe Harbour Statement
This announcement may contain forward-looking
statements, including statements about our expectations of
the progression of our preclinical and clinical pipeline
including the timing for commencement and completion of
clinical trials and with respect to cash burn guidance.
Such statements are based on management's current
expectations and are subject to a number of risks and
uncertainties that could cause actual results to differ
materially from those described in the forward-looking
statements. Topotarget A/S cautions investors that there
can be no assurance that actual results or business
conditions will not differ materially from those projected
or suggested in such forward-looking statements as a result
of various factors, including, but not limited to, the
following: The risk that any one or more of the drug
development programs of Topotarget A/S will not proceed as
planned for technical, scientific or commercial reasons or
due to patient enrolment issues or based on new information
from non-clinical or clinical studies or from other
sources; the success of competing products and
technologies; technological uncertainty and product
development risks; uncertainty of additional funding;
Topotarget A/S' history of incurring losses and the
uncertainty of achieving profitability; Topotarget A/S'
stage of development as a biopharmaceutical company;
government regulation; patent infringement claims against
Topotarget A/S' products, processes and technologies;
the ability to protect Topotarget A/S' patents and
proprietary rights; uncertainties relating to
commercialization rights; and product liability exposure.
We disclaim any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise, unless required
by law.