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AMT tries to survive under a new name

20.02.2012

Amsterdam - Amsterdam Molecular Therapeutics has announced a financial manoeuvre which is aimed to get the biotech out of a dead end. The assets and – more importantly – the liabilities of the drug developer will be acquired by a newly formed private company, uniQure BV, which is based in Amsterdam as well. AMT as a legal entity will cease to exist and will be delisted.UniQure will pay with unlisted depositary receipts, which may be exchangeable for uniQure shares. "We believe the proposed transaction will ensure the future of AMT following the failure to gain approval of Glybera in 2011, given the very limited options available to us", said Jörn Aldag, CEO of AMT. "The Transaction offers the only viable way to secure a capital injection", said Aldag. "We ultimately believe that this transaction offers the renewed possibility of a meaningful exit for our shareholders, allowing them to benefit from the potential future upside in the business, including the possible outcome of the reconsideration by CHMP of our Glybera product." After devouring AMT, uniQure is promised to receive additional equity funding of €7.0m, including €6.0m from Forbion Capital managed funds together with €1.0m in additional new financing to be secured by AMT prior to completion. In addition, uniQure will take over AMT's liability related to the €5.0m convertible loan notes and accrued interest of €0.3m. AMT will receive one new uniQure DR for every existing issued and outstanding AMT share. uniQure will continue with AMT's strategy to invest in the haemophilia B, GDNF and AIP programs, as well as the collaboration with Institut Pasteur on Sanfilippo B, but will not invest significant additional funds into Glybera unless and until it receives a positive decision from the CHMP.

BeNeLuxBelgiumNetherlandsLuxembourg

05.10.2011

Luxembourg - For its tiny size, Luxembourg attracts a disproportionally huge amount of venture capital. Creabilis SA has raised €15m in a Series B funding round led by Abbott Biotech Ventures. "In Abbott, we have added another...

BeNeLuxBelgiumNetherlandsLuxembourg

01.10.2011

Munich/Amsterdam – Researchers from the LMU Munich and the Aca­demic Medical Center Amsterdam have found a way to predict disease outcome in patients with life-threatening bacterial meningitis. In a nation­wide genetic...

BeNeLuxBelgiumNetherlandsLuxembourg

01.10.2011

Utrecht – Consuming fish or fish oil capsules may be a bad idea for cancer patients, according to Dutch researchers. In mid-September, a team headed by Emile Voest from the University Medical Centre Utrecht reported such products...

BeNeLuxBelgiumNetherlandsLuxembourg

01.10.2011

Rotterdam – Finnish oil refining company Neste Oil corporation has kick-started production in Europe’s largest renewable diesel refinery in Rotterdam. The plant has a capacity of 800,000 tonnes a year, and this will be ramped up...

BeNeLuxBelgiumNetherlandsLuxembourg

01.10.2011

Brussels – A European gateway to life science capacities has been launched (www.toolsofscience.eu) that is aimed at providing a novel resource for identifying the best facilities and service companies from among 13 bioregions...

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01.10.2011

Stockholm/Leiden/Barcelona – A complicated ménage a trois has come to an end: Swedish Orphan Biovitrum AB, Pharming Group N.V. and Esteve S.A. announced at the beginning of September that they were terminating a 2004 deal...

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14.09.2011

Bunnik – AM-Pharma B.V. has raised €29.2m. The Dutch company plans to spend the money on delivering a human recombinant form of Alkaline Phosphatase (AP) as a treatment for Acute Kidney Injury (AKI) from preclinical stages to the...

BeNeLuxBelgiumNetherlandsLuxembourg

13.09.2011

Utrecht – Researchers at University Medical Center Utrecht have dealt a blow to the advocates of allegedly healthy fish oil. The substance which is again and again named as a helpful substance for cancer patients, seems instead...

BeNeLuxBelgiumNetherlandsLuxembourg

07.09.2011

Diepenbeek - Amakem has received €18m to take a glaucoma drug candidate through Phase II trials. The Belgium-based developer lead candidate will use the money to advance its lead candidate AMA0076 to the clinical proof of...

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