Curasight strengthens its strategic position with the acquisition of TRT Innovations ApS
February 10, 2022
Copenhagen, Denmark, 10 February 2022 - Curasight A/S (“Curasight” or the “Company”) has today signed and completed an agreement to acquire the early-stage R&D company TRT Innovations ApS. Curasight intends to expand and accelerate its clinical programs and is strengthening the therapeutic platform.
Curasight has signed and completed an agreement to acquire all outstanding shares in TRT Innovations, which is a Danish early-stage R&D company focusing on research activities related to cancer therapy. Besides its R&D activities, TRT Innovations reached a net loss of DKK 113,000 for the financial year 2021 and an equity of DKK 2.2 million. The acquisition of TRT Innovations does not affect Curasight’s financial guidance.
As set out in Curasight’s press release of 7 October 2020, Curasight and TRT Innovations prolonged a patent licensing agreement entitling Curasight to use certain patent rights and to exercise an option to expand its licensing to comprise additional cancer indications. As an alternative to exercising such option and for the purpose of consolidating Curasight’s patent portfolio rather than relying on licenses, Curasight pursued the opportunity to acquire TRT Innovations.
The total purchase price for TRT Innovations amounts to DKK [7,422,680], which was paid as part of completion of the acquisition by means of cash funds. TRT Innovations was acquired from AK 2014 Holding, which is wholly owned by CSO and board member of Curasight Andreas Kjær.
“We are very pleased with this transaction as the acquisition of TRT strengthens Curasight's strategic position and freedom to operate within the therapeutic platform (uTREAT) that support the upcoming expansion of our clinical development program”, says CEO Ulrich Krasilnikoff
The information comprised by this press release is information that Curasight A/S is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the care of the above contact person, for publication on 10 February 2022.
For more information regarding Curasight, please contact:
Ulrich Krasilnikoff, CEO
Phone: +45 22 83 01 60