News

Cash injection for Wilex
Enlarge image

Drug developmentGermany

Cash injection for Wilex

27.08.2012 - The German antibody specialist Wilex AG has completed a capital increase to strengthen its capital base. The biotech sold 6.5 million new shares at a price of €3.70.

However not all the shares were sold for cash. As contribution in kind, the company’s largest shareholder Dievini Hopp BioTech Holding GmbH, the investment vehicle of the billionaire and SAP founder Dietmar Hopp, converted an existing loan granted to Wilex amounting to approximately €7.8m to 2.1 million new shares. This represents 32.5% of the total volume of the capital increase.This reduces Wilex' financial liabilities without adversely affecting cash reserves. Finally, Wilex receives gross proceeds of around €16.1m from the cash portion of the transaction. The company now owns about €24m in cash. Wilex runs a number of early and mid-stage clinical trials. However, the most important one is the phase III with the kidney cancer antibody Rencarex. Results for the test with the anti-EpCAM-mAb are anticipated for the end of this year. Rencarex is partnered with Prometheus Labs in the US.

http://www.european-biotechnology-news.com/news/news/2012-03/cash-injection-for-wilex.html

EU

04.09.2015 Crowdfinancing has just recently emerged as a financing instrument in the Life Sciences. A new report lists 42 European companies in the sector that have raised a total of almost €23m.

DiabetesFrance

01.09.2015 Sanofi is partnering up with Google’s life sciences team with an ambitious goal: to change the face of diabetes management.

M&ASwitzerlandFrance

31.08.2015 In order to boost its active cosmetic ingredients business, the Swiss flavour and fragrance giant Givaudan has acquired Volketswil-based Induchem Holding and all its subsidiaries.

BioeconomyEU

26.08.2015 In its second call for proposals, the Bio-Based Industries Joint Undertaking has earmarked €106m for the research and development of useful bio-based products.

OncologyNorway

25.08.2015 Oslo Cancer Cluster is inaugurating its NOK1bn (€107m) Innovation Park. None other than Norwegian prime minister Erna Solberg officially opened the doors to the research park on August 24th.

LicensingUKSwitzerland

21.08.2015 Novartis Pharma AG has secured all remaining rights to antibody hopeful ofatumumab. Seller GlaxoSmithKline is set to receive up to US$1bn (€919m) for the treatment for MS and other autoimmune indications.

LicensingDenmark

18.08.2015 Danish Novo Nordisk is climbing on the antibody therapeutics bandwagon in a US$500m licensing agreement with antibody-specialist Genmab.

M&ASwitzerland

13.08.2015 Roche is stepping up its commitment in the fight against drug resistant “superbugs” with its takeover of US diagnostics play Geneweave, for up to US$425m.

M&AUK

11.08.2015 Biotech bug controllers Oxitec has been bought by US biotech Intrexon Corporation for $160m (€145m). The Oxford University spin-out specialises in environmentally friendly technology to control pests such as mosquitoes, which cause dengue fever and other diseases.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • SAREUM HOLDINGS (UK)0.26 GBP18.18%
  • EVOCUTIS (UK)0.19 GBP5.56%
  • CERENIS THERAPEUTICS HOLDING SA (F)13.43 EUR5.09%

FLOP

  • BIOTIE THERAPEUTICS (FI)0.20 EUR-9.09%
  • 4SC (D)3.17 EUR-8.12%
  • STALLERGENES (F)47.02 EUR-6.07%

TOP

  • KARO BIO (S)41.10 SEK2375.9%
  • BIOTECH PHARMACON (N)16.10 NOK69.5%
  • TIGENIX (B)1.18 EUR66.2%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-50.0%
  • NEUROVIVE PHARMACEUTICAL AB (S)11.30 SEK-48.6%
  • THROMBOGENICS (B)2.85 EUR-43.0%

TOP

  • KARO BIO (S)41.10 SEK4570.5%
  • ADOCIA (F)87.80 EUR425.4%
  • GALAPAGOS (B)51.42 EUR315.3%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-87.5%
  • NEUROVIVE PHARMACEUTICAL AB (S)11.30 SEK-82.3%
  • BIOTEST (D)19.82 EUR-77.1%

No liability assumed, Date: 04.09.2015