Denmark, Norway, SwedenDenmark

Listing fever of nordic life sciences

21.11.2006

Copenhagen – Denmarks Lifecycle Pharma has finally entered the Copenhagen Stock exchange being the 12th listed Danish life science company. This is following in the footsteps of Swedish Biovitrum ­AB, Danish Curalogic A/S and Norwegian Clavis Pharma ASA, all indicating that Nordic life science companies seem to be undergoing a listing fever this year.
Whereas Biovitrum raised SEK770 million (a84 million) in September and has seen its share price rise from SEK100 (a11) to a current price of about SEK117 (a13), Lifecyle Pharma has finally received about DKK484 million (a65million) through the sale of 11 million shares at DKK44 (a6). Thus, the price came in at the midpoint of the proposed DKK38-DKK50 (a5-a7) range valuing the company at a total of DKK1.5 billion (a201 million). This makes the IPO of Lifecycle much bigger than the latest Danish biotech IPO undertaken by Curalogic A/S in May this year where the company was valuated at DKK313 (a42million).
However, in comparision to Curalogic, which is developing its own new drug candidates, Lifecycle Pharma is specialized in reformulating established drugs using its proprietary MeldDose technology. The company was first spun out of Lundbeck as PharoTech A/S in 2002 and adopted its current name in 2003. Since then, the company has only spent a40 million on its projects keeping staff levels to a minimum of currently 42 employees. The IPO has been expected to float enough money into the pockets to bridge the gap until the most advanced drug candidate LCP-Fenochol will bring the break even. The cholesterol-lowering compound has just been filed at the FDA, and with Lundbeck A/S, Sandoz Inc. and Merck Generics Lifecycle Pharma has already won strategical partners to commercialize its first product.
Already in July, the Norwegian firm Clavis Pharma undertook an IPO raising NOK 242 million (a30million). After NorDiag in 2005, it is now the 8th listed Norwegian biotech company.

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07.03.2012

Bagsvaerd/Bangalore – Danish Novozymes A/S has begun a new collaboration with Indian Sea6 Energy. The companies will jointly develop enzymes to convert seaweed-based carbohydrates to sugar, which can then be fermented to produce...

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06.03.2012

Prague/Turku/Copenhagen – Danish pharmaceutical company H. Lundbeck A/S yesterday unveiled clinical data on its potential blockbuster drug nalmefene at the 2012 European Congress of Psychiatry clinical in Prague. While Lundbeck...

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05.03.2012

Copenhagen – With the in vitro proof of concept for an undisclosed antibody target, Genmab A/S has reached the second milestone in its collaboration with H. Lundbeck A/S. Genmab will now receive a €1m payment. Under the...

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Copenhagen/Bangalore – Biofuels need reliable sources of biomass. Novozymes now looks to the ocean to secure biomass. The Danish enzyme specialist announced an exploratory research agreement with Sea6 Energy from India. The...

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02.01.2012

Copenhagen – Hellsinn Healthcare has successfully completed a phase Ib trial in Europe with Zealand Pharma’s GLP-2 (glucagone-like peptide 2) peptide antagonist Elsiglutide (ZP1846). The completion of the study, which was...

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Copenhagen - An alliance of giants will take a thorough look into biofuels for the maritime sector. The leading enzyme producer Novozymes will team up with parts of the Danish shipping industry, including the world’s largest...

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17.12.2011

Copenhagen/Paris – Danish biopharma­ceuticals company Zealand Pharma A/S has received some positive news. Ever since French partner Sanofi Aventis submitted a marketing authorisation application for Lyxumia (lixisenatide) in...

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07.11.2011

Copenhagen/Paris - The cooperation between Danish biopharmaceutical company Zealand Pharma and French drugmaker Sanofi has borne its first fruit. Sanofi has submitted a marketing authorisation application for Lyxumia...

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01.10.2011

Copenhagen/Ingelheim – Danish HTS expert Nuevolution A/S has signed a license agreement with drugmaker Boeh­ringer Ingelheim (BI). The German pharma company will use Nuevolution’s proprietary Chemetics drug discovery technology...

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25.08.2011

Bagsværd - Novo Nordisk is investing around €134m in a new corporate centre in the Copenhagen suburb Bagsværd. The new office premises will concentrate the top management and 1,100 administrative employees which are currently...

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