Denmark, Finland, SwedenDenmark

Nordic investment scene is moving


Copenhagen – Over the first months in 2007, there has been fresh momentum in the Nordic biotech investment scene. In particular, Denmark continues to attract large biotech investments and in Sweden and Finland the situation is also improving.
In Denmark, companies with mature products in their pipeline have seen high cash flow in June. Cancer company TopoTarget A/S, which already has one product on the market, completed its acquisition of Swiss company Apoxis SA and raised a48 million (DKK360 million) through the sale of 12 million shares in a public offering at the end of the month. One day before, Immunotherapy company Curalogic A/S, which has a phase III candidate in its pipeline, raised a sum of a41million through the sale of 18 million shares. On top of this, drug developers 7TM Pharma A/S completed a series D financing round led by GlaxoSmithKline’s venture fund SR One and raised a16,5 million (DKK123 million) at the beginning of June. Finally also in June, Exiqon A/S has been added to the Copenhagen Stock Exchange, raising a46 million through the offering of 8.6 million shares.
In June, change has also been afoot for Danish investors. Private equity company Dansk Kapitalanlaeg has sold its life science portfolio (including seven companies) to Omega Funds, and a new Danish VC player, Sunstone Capital A/S has been launched to accelerate development of Nordic early-stage Technology companies. In total, four funds with a commitment of a390 million have been announced. In a first closing, Sunstone Capital has raised a160 million from seven institutional investors. At the same time, the company has assumed 33 Life Science companies from Vaekstfonden, one of the largest Danish VC Players. These companies have been placed in two initial funds with invested capital of a120million and a follow-up commitment totalling a110 million.

New ideas are being put to test on the investors side in Finland

In comparison to Denmark, development in Sweden and Finland is less impressive but nevertheless also shows signs of improvement. In June, Swedish biotech company OxThera AB, developers of metabolic disorder treatment drugs, raised a16 million (SEK150 million) and has attracted new institutional and private investors. Additionally, listed antibody company BioInvest AB has said that it plans to raise a13 million (SEK125 million) with a direct offering of shares at the beginning of July.
New ideas are beeing put to the test on the investors side in Finland: Turku Science Park Ltd is now going to implement a new operational model that will ease investments in start-up companies. This is linked to a new partnership with Swedish Karolinska Institute Holding AB which has already collected a75 million (SEK700 million) for two funds as well as beginning acquisition for a third last summer.



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...



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...



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...



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...



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...



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...



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...



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...



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...



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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