13 Dec 2019 07:00
Horizon Discovery Group plc
Strategic collaboration in bioproduction with Mammoth Biosciences
Cambridge, UK, 13 December 2019: Horizon Discovery Group plc (LSE: HZD) ("Horizon" or "the Group"), a global leader in the application of gene editing and gene modulation technologies, announces a strategic collaboration with Mammoth Biosciences ("Mammoth" or the "Company"), that will see the two companies develop new CRISPR tools to provide the next generation of engineered cell lines for the biopharmaceutical industry.
Under the terms of the agreement, Horizon and Mammoth will collaborate to identify and optimise the Company's novel proteins for use under license by Horizon. This will then be deployed for the development of the Group's next generation of engineered cell lines.
Horizon will have exclusive rights to utilise this novel approach to bioproduction and will also be able to sublicense it to partners intent on modifying their own proprietary cell lines.
Horizon will pay an undisclosed consideration and issue warrants to Mammoth for the exclusive rights being licensed. The warrants will be issued within 30 days and will give Mammoth the right to subscribe for a number of ordinary shares in Horizon ("Ordinary Shares") equivalent to 0.5% of the issued share capital of Horizon at the market price on the date of grant. These warrants will be capable of exercise from the date of grant to the 12 December 2029.
Terry Pizzie, Chief Executive Officer of Horizon Discovery, commented:
"Horizon first entered the Bioproduction market around five years ago as a new entrant to the market with a commercially-disruptive CHO cell line. Horizon has become a highly credible player in the Bioproduction market, having secured more than 60 licensing engagements and supported five successful Investigational New Drug (IND) filings.
"We are now committed to delivering the next generation of CHO cell lines to an industry where greater flexibility, increased speed to market and cost reduction are key drivers.
"We believe that our expertise in cell line engineering can be leveraged to address many of these issues and, with the addition of Mammoth's technology, we will be able to become a disruptive provider of best in class engineered CHO cells."
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For further information from Horizon Discovery Group plc, please contact:
Horizon Discovery Group plc
Terry Pizzie, Chief Executive Officer
Jayesh Pankhania, Chief Financial Officer
Jon Davies, Head of Investor Relations
Tel: +44 (0) 1223 655 580
Numis Securities Limited (Broker and NOMAD)
Freddie Barnfield / Tom Ballard / Duncan Monteith
Tel: +44 (0) 207 260 1000
Consilium Strategic Communications (Financial Media and Investor Relations)
Mary-Jane Elliott / Matthew Neal / Melissa Gardiner
Tel: +44 (0) 20 3709 5700
Email: horizon@consilium-comms.com
Zyme Communications (Trade and Regional Media)
Lorna Cuddon
Tel: +44 (0)7787 502 947
Email: lorna.cuddon@zymecommunications.com
Westwicke, an ICR Company (US Investor Relations)
Stephanie Carrington
Tel. +1 646-277-1282
Email: horizondiscovery@icrinc.com
About Horizon Discovery Group plc www.horizondiscovery.com
Horizon Discovery Group plc (LSE: HZD) ("Horizon") drives the application of gene editing and gene modulation within the global life science market - supporting scientists on the path from research to therapy.
Built upon more than a decade of experience in the engineering of cell lines, Horizon offers an unmatched portfolio of tools and services to help scientists gain a greater understanding of gene function, identify genetic drivers behind human disease, deliver biotherapeutics, cellular and gene therapies for precision medicine as well as develop and validate diagnostic workflows.
Horizon's solutions enable almost any gene to be altered, or its function modulated, in human and other mammalian cell lines.
The Group's customers include many of the world's foremost academic institutes, global pharmaceutical and biotechnology companies as well as clinical diagnostic laboratories. Insight into the challenges faced by these organizations enables Horizon to focus efforts on development of innovative solutions that not only differentiate the Group's offering, but also fuel development of the next wave of precision medicines.
Horizon is headquartered in Cambridge, UK with offices in USA and Japan. The Group is listed on the London Stock Exchange's AIM market under the ticker HZD.
About Mammoth Biosciences https://mammoth.bio/
Mammoth Biosciences is a biotech company that has developed the world's first CRISPR-based detection platform capable of sensing any biomarker or disease with DNA/RNA.
The company's co-founders include CRISPR pioneer Jennifer Doudna, Berkeley PhDs Janice Chen and Lucas Harrington, and Stanford PhD Trevor Martin. Mammoth is on a mission to leverage the power of CRISPR to democratize disease detection by bringing accurate and affordable testing out of the laboratory and into the point-of-care. The company has raised over $25 million in funding led by top investors including Mayfield, NFX, 8VC, AME Cloud, Wireframe, Kairos, along with Tim Cook, Brook Byers, Bob Nelsen, and Jeff Huber.