Eclipse Therapeutics Enters Exclusive Assignment and License Agreement to Acquire Biogen Idec’s Cancer Stem Cell Assets

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Eclipse Announces Management Change to Drive Development of Cancer Stem Cell Program

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This transaction represents an important milestone for Eclipse and brings us one step closer to our dream of developing new therapeutic antibodies that target cancer stem cells.

Eclipse Therapeutics, Inc. (“Eclipse”), a biotechnology company dedicated to the discovery and development of therapeutics that target cancer stem cells and other forms of innovative cancer treatment, today announced the acquisition of Biogen Idec’s portfolio of cancer stem cell assets. The cancer stem cell program was initiated at Biogen Idec in 2004 and led by Peter Chu, Ph.D. and Chris Reyes, Ph.D. until late 2010 when Biogen Idec made the decision to divest or outlicense its oncology assets. Financial terms of the agreement were not disclosed.

Eclipse was founded in March of 2011 by former Biogen Idec employees, Dr. Chu and Dr. Reyes, and former Halozyme Therapeutics CEO, Jonathan Lim, M.D., to continue work focused on cancer stem cells. To help transition the cancer stem cell program from research into development, Dr. Lim has stepped into the role of Eclipse’s CEO, in addition to his responsibilities as Chairman. Dr. Chu has moved into the role of President, splitting his time between business activities and overseeing discovery biology.

“The Eclipse team is thrilled to continue the development of Biogen Idec’s cancer stem cell program,” said Dr. Chu, Eclipse’s President. “We are also very fortunate to have Jonathan, with his strong experience and track record, commit to taking on an operational role at the company as we transition from a research to a development company.”

“This transaction represents an important milestone for Eclipse and brings us one step closer to our dream of developing new therapeutic antibodies that target cancer stem cells,” added Dr. Lim, Eclipse’s Chairman and CEO. “I am looking forward to continuing to work with the Eclipse team to develop these innovative therapeutic candidates for cancer patients, and want to thank Peter for his critical role in leading Eclipse as its founding CEO. Under his leadership, the company launched operations in its facility in Sorrento Valley, successfully raised Seed financing in a challenging funding environment, and assembled a world class team of employees, scientific advisors and consultants.”

“The transfer of these assets to Eclipse ensures that the exciting cancer stem cell drug development research performed over the past seven years at Biogen Idec will continue to move forward,” said John Dunn, Biogen Idec’s Executive Vice President of New Ventures. “We look forward to following the team’s progress.”

About Eclipse Therapeutics, Inc.

Eclipse Therapeutics, Inc. (“Eclipse”) is a private biotechnology company dedicated to the discovery and development of therapeutics that target cancer stem cells and other forms of innovative cancer treatment. Cancer stem cells are a subset of cells within a tumor thought to play a critical role in tumor initiation, metastasis and recurrence. They are also implicated in resistance to current standard of care cancer treatments. Eclipse is leveraging its deep expertise in cancer stem cell biology and therapeutic antibodies to develop novel therapeutics that address unmet needs in cancer patient care. For more information, please visit http://www.eclipsetherapeutics.com.

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