News

Active Biotech raises €32.4m
Enlarge image

BusinessSweden

Active Biotech raises €32.4m

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.

© eurobiotechnews.eu/tg

http://www.european-biotechnology-news.com/news/news/2013-01/active-biotech-raises-eur324m.html

EbolaEUFrance

30.09.2014 In the face of the Ebola outbreak sweeping the West African countries, the EMA has started to review investigational treatments for the deadly virus disease.

FinancingSwitzerlandGermanyNetherlandsFrance

26.09.2014 Biotechnology has made the news in the stock market this month, as a wave of companies announced plans to launch IPOs on European exchanges later this year.

ResearchGermany

25.09.2014 After being hit hard by the Andromeda trial data falsification scandal, German biotech Evotec is moving back into calmer waters with new MS research projects.

FinancingNetherlands

23.09.2014 Dutch Biotech VC firm Aglaia has launched a new US$65m fund targeted towards biotechnology startups working on groundbreaking technologies aimed at preventing and curing cancer.

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.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • ADDEX3.51 CHF12.14%
  • STRATEC BIOMEDICAL41.09 EUR4.55%
  • MEDIGENE4.00 EUR2.30%

FLOP

  • CYTOS0.18 CHF-5.26%
  • MOLOGEN6.60 EUR-2.22%
  • SANTHERA86.95 CHF-1.92%

TOP

  • PAION3.22 EUR33.6%
  • CO.DON3.14 EUR27.6%
  • FORMYCON8.20 EUR16.3%

FLOP

  • CYTOS0.18 CHF-28.0%
  • EVOTEC3.10 EUR-16.7%
  • MOLOGEN6.60 EUR-12.8%

TOP

  • SANTHERA86.95 CHF2146.8%
  • PAION3.22 EUR238.9%
  • CO.DON3.14 EUR223.7%

FLOP

  • CYTOS0.18 CHF-95.3%
  • MOLOGEN6.60 EUR-44.5%
  • 4SC1.04 EUR-44.4%

No liability assumed, Date: 01.10.2014