Heidelberg Pharma AG, a clinical stage biotech company developing innovative Antibody Drug Conjugates (ADCs), today resolved with the approval of the Supervisory Board to implement extensive cost-saving measures and consequently, to focus all development activities exclusively on lead ADC candidate HDP-101 to extend the Company’s cash reach. This is due to the delay of an expected milestone payment of USD 70 million from the royalty financing agreement with HealthCare Royalty (HCRx), as the payment condition has not yet been met.
– Milestone payment of USD 70 million from royalty financing agreement with HealthCare Royalty delayed as payment condition has not yet been met
– Clinical Phase I/IIa trial with HDP-101 in Multiple Myeloma will continue as planned; further pipeline programs will be adapted
– Significant reduction in the workforce by approx. 75%
– Cash reach extended until mid-2026