News

Intercell in €25m finance deal with BB Biotech
Enlarge image

BusinessAustriaSwitzerland

Intercell in €25m finance deal with BB Biotech

09.05.2012 - Austrian biotech company Intercell AG has signed a €25m financing deal with Swiss investor BB BiotechAG.

Vienna  – The vaccine maker also said it is in talks with other investors   concerning a private stock placement that could total €15m. The  investment, through a fully owned subsidiary of BB Biotech AG, consists of a €20m secured loan and a commitment to invest €5m as part  of a proposed private share placement. Intercell’s CEO, Thomas Lingelbach, stated: “Following the successful strategic resetting in  2011, this financing marks an important step in the renewal of  Intercell as a notable biotech vaccine company. With growing sales  from our first product on the market, a diversified pipeline and  technology base and a disciplined financial strategy, we are now very  well positioned for the next development phase of our company.”

Intercell is trying to get back on track after several product setbacks sparked worries about its pipeline prospects. After a setback  in the development of a traveller’s diarrhoea vaccine last year, the  new focus of the company is on vaccines preventing nosocomial  infections. The secured six-year loan carries a variable interest  rate. Intercell will pay BB Biotech royalties on sales revenues from  its product Ixiaro, a vaccine for Japanese encephalitis. The €5m  equity investment will see BB Biotech subscribe for nearly 2 million  Intercell shares for about 2.55 € per share as part of the private  placement. According to Intercell,  existing shareholders will not get  subscription rights for the placement

http://www.european-biotechnology-news.com/news/news/2012-02/intercell-in-eur25m-finance-deal-with-bb-biotech.html

Clinical TrialsFrance

26.08.2016 Adocia said it would discontinue its diabetic foot ulcer programme after its lead product BioChaperone PDGF disappointed in Phase III. The French company will turn the focus on its earlier-stage products.

M&AUKSweden

24.08.2016 Pharma major Pfizer is putting the cherry on top of its multi-billion-dollar takeover of Medivation with the acquisition of AstraZeneca’s antibiotics for a cool US$1.5bn. With the divestment, AZ aims to further sharpen its focus.

FinancingUK

23.08.2016 Cambridge University-allied investor Cambridge Innovation Capital has raised £75m (€87m) to reinvest in technology and healthcare companies. Among the backers were Woodford Investment and Winton Ventures.

R&DDenmark

19.08.2016 Together with partner Johnson & Johnson, Danish biotech Genmab is now one step closer to FDA approval with its combination treatment for multiple myeloma after its submission of a supplemental Biologics License Application. In July, Genmab was granted a Breakthrough Therapy Designation (BTD) for its blood cancer therapy.

ResearchUKEU

17.08.2016 Philip Hammond, the UK’S chancellor has announced the government will guarantee funding for EU-backed "structural and investment fund" projects whose timelines extend beyond the UK’s departure from the EU, provided the projects are signed prior to this year's Autumn Statement on the UK budget. The decision ensures continued funding for farmers, companies and institutions involved in the EU’s Horizon 2020 project. The move could cost the UK government up to £6bn (€6.9bn).

Stock marketsGermany

15.08.2016 Back in April, the American FDA gave the green light for the colorectal cancer-screening test Epi procolon. Now Berlin-based diagnostics specialist Epigenomics is considering a secondary listing in the US. A draft of the required registration document was confidentially submitted to the US Securities and Exchange Commission (SEC).

LicensingDenmark

11.08.2016 Danish Genmab AS has granted Gilead Sciences license to use its DuoBody technology platform to develop bispecific antibodies for the treatment of HIV. The deal is worth up to €252m.

Clinical developmentHungaryIreland

09.08.2016 Hungarian Gedeon Richter and Irish Allergan are staying on course in the face of dissappointing Phase III results for depression drug cariprazine. The partners will now begin another Phase III study needed for approval.

ImmunotherapySpain

08.08.2016 Araclon Biotech’s Alzheimer’s vaccine ABvac40 is going forward into Phase II after showing a good safety profile in Phase I. The promising trial results were presented at the Alzheimer’s Association International Conference.

ApprovalEU

04.08.2016 After a two-year pilot period, the EMA has published its report on its adaptive pathways approach. The agency plans to “explore the concept further” and will continue to accept proposals.

Quick news provided by GlobeNewswire

View more stock news

Events

All Events

Partner-Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • NORDIC NANOVECTOR (N)34.00 NOK6.58%
  • RENEURON (UK)2.88 GBP4.73%
  • SUMMIT (UK)4.03 GBP3.87%

FLOP

  • SWEDISH ORPHAN BIOVITRUM (S)11.56 USD-7.52%
  • VITA 34 (D)4.14 EUR-7.17%
  • ADOCIA (F)53.20 EUR-5.67%

TOP

  • DIAMYD MEDICAL -B- (S)6.90 SEK47.1%
  • NORDIC NANOVECTOR (N)34.00 NOK39.3%
  • KARO BIO (S)42.00 SEK34.6%

FLOP

  • BIONOR PHARMA (N)0.44 NOK-25.4%
  • E-THERAPEUTICS (UK)11.50 GBP-14.8%
  • ZEALAND PHARMA (DK)112.00 DKK-14.5%

TOP

  • NICOX (F)10.07 EUR430.0%
  • SAREUM HOLDINGS (UK)0.76 GBP245.5%
  • GENMAB (DK)1094.00 DKK85.0%

FLOP

  • BB BIOTECH (D)44.29 EUR-83.1%
  • EVOCUTIS (UK)0.04 GBP-77.8%
  • NEUROVIVE PHARMACEUTICAL AB (S)5.65 SEK-75.4%

No liability assumed, Date: 27.08.2016