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

BusinessGermany

19.09.2014 In order to concentrate on the life science business, German industry giant Bayer is splitting off its plastics subgroup as a separate company.

FinanceSwitzerland

18.09.2014 Swiss biopharma Cardiorentis has received a €45m investment from overseas investment firm Healthcare Royalty Partners in order to finance the registration for its heart drug.

PoliticsEU

15.09.2014 Jean Claude Juncker, the European Commission President-elect revealed his new Commissioners last week, whilst announcing a change in the units dealing with medicines, medical devices and health technology.

BiosimilarsGermanyFrance

12.09.2014 The 2011 collaboration of Boehringer Ingelheim and Eli Lilly is bearing fruit. An insulin biosimilar developed through the partnership has now been approved in Europe - the first-ever generic version of this class.

FinancingNetherlands

11.09.2014 Cystic fibrosis specialist Proqr Therapeutics has set the terms for its upcoming IPO at US-American stock exchange NASDAQ.

Clinical TrialsUKSweden

09.09.2014 In the midst of the hustle and bustle of the European Respiratory Society’s International Congress 2014, Astrazeneca quietly announced the disappointing results of its latest benralizumab study.

BusinessDenmark

04.09.2014 After their arthritis product’s Phase IIb failure, Novo Nordisk A/S is pulling out of all research and development activities within inflammatory disorders.

BusinessBelgiumIrelandSwitzerland

02.09.2014 In the face of declining revenue, Belgian biopharmaceutical company Thrombogenics has decided to spin out its cancer research and development activities.

ResearchUKSwitzerlandItaly

29.08.2014 Just a week ago, Glaxosmithkline defused the WHO’s claim that an Ebola vaccine could be ready by 2015. Now, the British company’s own candidate vaccine is to be rushed to human trials with the help of funding from an international consortium.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • ADDEX3.30 CHF6.45%
  • PAION3.17 EUR3.93%
  • SANTHERA90.75 CHF3.07%

FLOP

  • WILEX2.36 EUR-12.27%
  • THERAMETRICS0.08 CHF-11.11%
  • CYTOS0.23 CHF-4.17%

TOP

  • CO.DON3.27 EUR30.8%
  • PAION3.17 EUR27.8%
  • EPIGENOMICS3.80 EUR22.6%

FLOP

  • MEDIGENE3.82 EUR-17.8%
  • ADDEX3.30 CHF-17.5%
  • EVOTEC3.10 EUR-15.5%

TOP

  • SANTHERA90.75 CHF2124.3%
  • CO.DON3.27 EUR255.4%
  • PAION3.17 EUR213.9%

FLOP

  • CYTOS0.23 CHF-94.3%
  • THERAMETRICS0.08 CHF-42.9%
  • BIOFRONTERA2.18 EUR-40.3%

No liability assumed, Date: 22.09.2014