Fresh cash for Bavarian Nordic
Kvistgard – In February, Danish-German biotech company Bavarian Nordic A/S, listed on NASDAQ OMX Copenhagen, raised DKK316m (EUR42m) through the sale of four million shares Nordea Markets and SEB Enskilda acted as lead managers. Founded in 1994, the company develops and produces therapeutic and prophylactic vaccines for smallpox (IMVAMUNE; Phase II completed), HIV (Phase I/II), breast cancer (Phase I/II), prostate cancer (PROSTVAC; Phase II completed) and measles/RSV (Phase I). In 2007, the company won a five-year contract worth US$500m to deliver up to of 80 million doses of smallpox vaccine to the US government. The fresh capital is now aimed at supporting its efforts to deliver further governments with the vaccine and bring Imvamune to the market. A Phase III trial is planned for 2010. Furthermore, Phase III studies of Prostvac are on the agenda.