Simris Group enters into new MoU with Immunrise Biocontrol for lease and subsequent acquisition of Hammenhög facility

The new MoU represents a further step in the divestment process previously communicated by Simris and sets out the principal commercial terms for the lease and subsequent acquisition of the Hammenhög facility.

Under the MoU, the parties have agreed on a purchase price of EUR 1.0 million.

Pending completion of the acquisition, Immunrise will lease the facility and assume responsibility for operating costs associated with the site, as well as ongoing and routine maintenance of the buildings, installations and equipment. A separate lease agreement will set out the detailed terms of the lease.

Upon completion of the acquisition, 50% of the rental payments made by Immunrise from commencement of the lease until completion will be deducted from the purchase price.

Immunrise is currently pursuing a financing round and has undertaken under the MoU to complete the acquisition within three months following the closing of the financing round and receipt of the corresponding funds. The MoU provides Immunrise with exclusivity in relation to the acquisition until 30 September 2027, unless otherwise agreed between the parties.

Completion of the acquisition remains subject to satisfactory legal due diligence, final approval from Immunrise's financing partners and the execution of definitive agreements.

The divestment of the Hammenhög facility is consistent with Simris' strategy to focus its resources on the development of antibody-drug conjugates (ADCs) carrying novel, nature-sourced payloads for the treatment of cancer. The transaction represents another step in the Company's transition away from its legacy microalgae production activities and towards the development and commercialisation of its biopharmaceutical technology and ADC payload portfolio.

Daniel Kubitza, Interim CEO of Simris Group, commented:

"The agreement with Immunrise Biocontrol represents another important step towards completing the divestment of our Hammenhög facility. In addition to establishing clear commercial terms for the acquisition, the interim lease arrangement transfers the ongoing operation and maintenance of the facility to Immunrise while it completes its financing process. For Simris, the transaction supports our continued focus on developing novel, nature-sourced payloads for next-generation antibody-drug conjugates targeting cancer."

Simris will provide further updates as the transaction progresses.

About Immunrise Biocontrol
Immunrise Biocontrol is a French biotechnology group founded in 2015 that develops innovative solutions based on microalgae. Immunrise Biocontrol harnesses the biological diversity of microalgae and the properties of their molecules to develop applications in agriculture, agribusiness and healthcare.

By combining scientific research, technological development and production, Immunrise Biocontrol aims to transform these natural resources into high-performance and sustainable solutions addressing major future health and environmental challenges.