07.03.2013 - Swedish Active Biotech has issued new shares to obtain money for its clinical autoimmunity and cancer programmes.
Active Biotech’s Board announced that the Lund-based company will issue 6 million new shares to Investor AB at SEK45 per share, creating up to SEK270m (€32.4m). The company said it will use the proceeds to strengthen its capital base and to advance development and value-creation of its programmes. Currently, the company has two programmes in pivotal clinical studies: Active Biotech’s Phase III renal cancer candidate drug ANYARA is managed and financed on a proprietary basis, while its multiple sclerosis drug laquinimod is partnered with Teva. The firm’s Phase II prostate cancer candidate TASQ is co-developed with Ipsen, while the firm’s preclinical candidates ISI and 57-57 are still unpartnered. The fresh capital strengthens Active Biotech's position in discussions with potential partners.
Active Biotech's two largest shareholders MGA Holding AB and Nordstjernan AB, and East Bay AB, who have 44% of shares each, said they would support the new issue. Through the new issue, the number of shares will increase 68,923,582 to 74,923,582 and the share capital will increase by from SEK 259,796,597.53 to SEK 282,412,653.46.
16.12.2014 Two consortia combined of 144 European companies, research institutes and universities have been selected for funding by the EIT in the areas of health and raw materials. Both clusters are set to acquire €1.1bn over the next seven years.
10.12.2014 When it comes to the biggest investors in Research and Development (R&D) Swiss pharma top dogs Novartis and Roche have defended their positioning among the top ten companies worldwide – according to a recently published EU study.
05.12.2014 Austrian contract research company VTU has entered into a development and commercialisation agreement with US company RCT. The partners want to combine both companies' Pichia pastoris protein production technologies under VTU's roof.
03.12.2014 Danish biotech pharma Ascendis has successfully completed a €48m Series D financing round. The funding is expected to support its late-stage clinical trials to push its lead drug into Phase III trials.