Collaboration with CGN Nuclear Technology Development Co., Ltd worth a minimum of EUR 100 million
Louvain-La-Neuve, Belgium, 24 September 2020 - IBA (Ion Beam Applications S.A., EURONEXT), the world’s leading provider of proton therapy solutions for the treatment of cancer, announces today that it has received the first payment of EUR 20 million from CGN Dasheng Electron Accelerator Technology Co., Ltd (“CGN Dasheng”). This follows the signature on 26 August 2020 of a strategic licensing deal with CGN Nuclear Technology Development Co., Ltd. (“CGNNT”), and its wholly-owned subsidiary CGN Dasheng, for the exclusive rights to IBA’s Proteus®PLUS* technology in China (see the press release here).The overall minimum deal value to IBA is EUR 100 million.
Olivier Legrain, Chief Executive Officer at IBA, commented: “IBA identified China as a key strategic market early on and has a long and successful track-record in the country, becoming the market leader in the region. The recent move by the Chinese Government to increase the number of proton therapy licenses means that the treatment is set to greatly expand in the coming years and, given the large unmet need in China, we anticipate that these future centers are likely to opt for multi-room configurations. The agreement with CGNNT provides IBA and all of its existing Proteus®PLUS customers with a wider platform to fuel ongoing technological innovation and offers another great opportunity to further expand the global IBA community, the largest and most experienced network of clinical and technical experts in proton therapy.”
As part of the agreement, IBA has granted exclusive rights for the use of its Proteus®PLUS technology to CGNNT and CGN Dasheng in the People’s Republic of China (PRC) excluding Hong Kong, Taiwan and Macau area. The deal value includes a licensing fee, technology support, the sale of equipment for a Proteus®PLUS three-room solution and installation support. The remaining milestone payments are foreseen over the next four years and, in addition to this amount, the contract includes annual royalty revenues on future sales.
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About IBA
IBA (Ion Beam Applications S.A.) is a global medical technology company focused on bringing integrated and innovative solutions for the diagnosis and treatment of cancer. The company is the worldwide technology leader in the field of proton therapy, considered to be the most advanced form of radiation therapy available today. IBA’s proton therapy solutions are flexible and adaptable, allowing customers to choose from universal full-scale proton therapy centers as well as compact, single room solutions. In addition, IBA also has a radiation dosimetry business and develops particle accelerators for the medical world and industry. Headquartered in Belgium and employing about 1500 people worldwide, IBA has installed systems across the world.
IBA is listed on the pan-European stock exchange NYSE EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB).
More information can be found at: www.iba-worldwide.com
* Proteus®PLUS is the brand name of Proteus®235
About CGNNT
CGNNT (stock code: 000881.SZ) is a leading company in the nuclear technology application industry that was restructured and listed in Shenzhen Stock Exchange on February 27, 2017, after the major asset restructuring of CGN Nuclear Technology Application Co., Ltd. and China Dalian International Cobusiness (Group) Holdings Ltd. Up to now, CGNNT has completed the layout of core business units such as accelerator manufacturing, application development and technical service and modified polymer material. Their market share leads the nation. CGNNT mainly incubates such emerging services as radiation detection and security inspection (managed) and new irradiation application, and actively expands to high-end fields such as nuclear medicine (especially PT field), nuclear agricultural science and nuclear environmental protection, with market size firmly ahead in China.
More information can be found at: http://www.cgnnt.com.cn
For further information, please contact:
IBA
Soumya Chandramouli
Chief Financial Officer
+32 10 475 890
Investorrelations@iba-group.com
Thomas Ralet
Head of Corporate Communication
+32 10 475 890
communication@iba-group.com
For media and investor enquiries:
Consilium Strategic Communications
Amber Fennell, Angela Gray
+44 (0) 20 3709 5700