Full Press Release Details
TG Therapeutics Announces Exclusive Licensing Agreement with
Ildong Pharmaceutical Co., Ltd. for Development and Commercialization of Ublituximab (TGTX-1101) in South Korea and Southeast Asia
New York, NY (November 15, 2012)-TG Therapeutics,
Inc. (TG Therapeutics) (Ticker:TGTX) today announced that it has entered into an exclusive licensing agreement with Ildong Pharmaceutical
Co. Ltd. (Ildong) for the development and commercialization of the company's novel anti-CD20 antibody, Ublituximab (TGTX-1101)
in South Korea and Southeast Asia.
Under the terms of the agreement, TG Therapeutics will receive
an upfront payment of $2 Million in addition to sales based milestone and royalty payments in exchange for exclusive rights to
develop and commercialize Ublituximab for all therapeutic indications in the territory.
Ublituximab is under development by TG Therapeutics for hematologic
malignancies and other B-cell lymphoproliferative disorders, and is currently being evaluated in a North American Phase I/II clinical
trial in patients with relapsed or refractory non-Hodgkin's lymphoma.
"Having already demonstrated impressive clinical activity
in patients with relapsed and refractory Chronic Lymphocytic Leukemia, Ublituximab has shown itself to be a promising treatment
for patients with B-cell related disorders. We are excited to work with the experienced team at Ildong to expand the scope of development
for Ublituximab." stated Michael S. Weiss, Chairman and Interim CEO of TG Therapeutics.
"We are delighted to have added Ublituximab to our pipeline
in biologics and it is a strategic fit for Ildong," said Jung-Chi Lee, Chairman & CEO of Ildong. "We believe
Ublituximab, a next generation anti-CD20 therapy will strengthen our presence in oncology and auto-immune areas and look forward
to working with TG Therapeutics in developing Ublituximab in South Korea and Southeast Asia."
MedCI LLC served as licensing advisor and provided assistance
to TG Therapeutics with respect to this transaction.
Ublituximab is a novel, third generation chimeric monoclonal
antibody targeting a unique epitope on the CD20 antigen found on B lymphocytes. Ublituximab has been bioengineered for enhanced
biological activity with an increased ability to trigger an immune response, delivering superior ADCC effects to aid in B-cell
depletion. Ublituximab has displayed high single agent activity in a Phase I/II clinical trial in patients with relapsed Chronic
Lymphocytic Leukemia, and is being developed by TG Therapeutics in multiple oncology and autoimmune indications.
Ublituximab has been granted orphan status in Europe and in
the USA for B-cell Chronic Lymphocytic Leukemia, and is currently being evaluated in a Phase I/II clinical trial in patients with
non-Hodgkin's lymphoma relapsed or refractory to prior anti-CD20 therapy.
ABOUT TG THERAPEUTICS, INC.
TG Therapeutics is an innovative, clinical-stage biopharmaceutical
company focused on the acquisition, development and commercialization of innovative and medically important pharmaceutical products
for the treatment of cancer and other underserved therapeutic needs. Currently, the company is developing two advanced therapies
targeting hematological malignancies. TGTX-1101 (ublituximab) is a novel, third generation monoclonal antibody that targets
a specific and unique epitope on the CD20 antigen found on mature B-lymphocytes, currently in clinical development for patients
with relapsed and refractory non-Hodgkin's lymphoma. TG Therapeutics is also developing TGR-1202, a highly specific, orally
available PI3K delta inhibitor. TG Therapeutics is headquartered in New York City. For more information, visit the TG
Therapeutics website at http://www.tgtherapeutics.com.
ABOUT ILDONG PHARMACEUTICAL CO., LTD.
Ildong Pharmaceutical Co., Ltd., (000230 KS) based in Seoul,
Korea, is a leading Korean company focused on the development, manufacturing and marketing of pharmaceuticals and OTC products
with 340B KRW(or 294MUSD) turnover in 2011. Ildong, founded in 1941, is known to have leading expertise in various therapeutic
categories including oncology, neurology, antibiotics, gastrointestinal, and cardiovascular. For more information, visit the Ildong
website at http:// www.ildong.com.
Cautionary Statement
Some of the statements included in this press release, particularly
those anticipating future clinical trials and business prospects for ublituximab may be forward-looking statements that involve
a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995. Among the factors that could cause our actual results to differ
materially are the following: our ability to successfully and cost-effectively complete pre-clinical and clinical trials for ublituximab;
the risk that the data (both safety and efficacy) from future clinical trials will not coincide with the data analyses from prior
pre-clinical and clinical trials; and other risk factors identified from time to time in our reports filed with the Securities
and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press
release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after
the date hereof. This press release and prior releases are available at www.tgtherapeutics.com. The information found on our website
is not incorporated by reference into this press release and is included for reference purposes only.
Director- Investor Relations
TG Therapeutics, Inc.
Telephone: 212.554.4484
Email: ir@tgtxinc.com
Supervisor-BD & Licensing
Ildong Pharmaceutical Co., Ltd.
Telephone: 82.2.526.3357
Email: diplomat@ildong.com