4SC sells discovery division operations to BioNTech

4SC AG (VSC: DE) has said it has sold the operations of its subsidiary 4SC Discovery to newly-incorporated, fellow Germany-based BioNTech Small Molecules GmbH. The sale comprises all key operating assets.

BioNTech Small Molecules is a wholly-owned subsidiary of BioNTech AG. The purchase price for the assets to be transferred with immediate effect amounts to 650,000 euros ($740,000). In addition and without financial compensation, 4SC will be granted the right to temporarily utilize research services provided by BioNTech Small Molecules worth a person year.

As of May 1, 2016, all 22 employees of 4SC Discovery in the framework of a transfer of operations will be taken over and will continue to work at the existing facility in Planegg-Martinsried. The assets to be transferred include the 4SCan software developed in-house for compound discovery and optimization, 4SC Discovery’s tangible fixed assets and its substance libraries. Other intangible assets are not affected by this transaction.