SWITZERLAND - HBM et al. sells ESBATech to Alcon

Alcon will also pay up to a further $439m in the future dependent on the achievement of research and development milestones.

Through the acquisition, Alcon will gain exclusive rights to the ESBATech technology and research platform for the treatment of all eye diseases, including age-related macular degeneration, diabetic macular edema, glaucoma, dry eye and uveitis.

The rights to apply this unique platform in all other areas of medicine are retained by the previous shareholders of ESBATech. As part of the transaction, these rights will be spun off into a separate company, Delenex Therapeutics Ltd.

ESBATech is a Zurich-based clinical stage biotechnology company that focuses on research and development of antibody fragments for therapeutic applications. ESBATech applies its proprietary screening platform, IMMUNA, and its fully human single-chain antibody frameworks to generate product candidates against targets of clinical relevance.

Prior to the acquisition, the company focused on three franchises: ophthalmology, rheumatology and respiratory, advancing a pipeline of novel antibody fragments for topical and/or local delivery.

HBM BioVentures co-led the company's Series B financing round in 2006.

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