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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

Industry reportGermany

27.04.2016 More revenue, more jobs, more financing, more R&D expenditure – all signs point towards sustainable growth in the German biotech sector. These are the results of the most recent company survey 2016, published by biotechnologie.de. The report was once again conducted alongside the biotech standards defined by the organisation for economic cooperation and development (OECD).

Clinical ResearchFrancePortugal

21.04.2016 An expert panel’s final report on the fatal drug trial earlier this year in France states that the death of one of the participants was most likely caused by the drug’s toxicity and not by any violation of the rules.

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Immuno-oncologyUK

19.04.2016 British drug developer Heptares Therapeutics and mAb maker Kymab Ltd have partnered up in yet another immuno-oncology collaboration. The companies plan to discover antibody meds targeting a superfamily of receptors.

FinancingSwitzerlandFranceEUGermanyDenmark

15.04.2016 Not every company is put off by the current stock market climate. Swiss biopharma company GeNeuro has gone public at Euronext Paris, raising €33m in the process. Others, meanwhile, have to find different ways to raise money.

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FinancingGermanyNetherlandsEU

12.04.2016 German-Dutch life science investment specialist Forbion Capital Partners has raised more than €180m for its venture capital fund Forbion Capital Fund III. Once more the money will primarily go to European start-ups.

Event ReviewGermanyEU

08.04.2016 Do you win by being innovative?, was the question asked at this year’s DIA Euromeeting in Hamburg. In a relaxed and cooperative atmosphere, regulators, physicians and patients had ample opportunity to interact with the healthcare industry.

M&AIrelandEU

07.04.2016 Pfizer and Allergan have called off their merger, cancelling plans to relocate the US pharma giant to Ireland to avoid US taxation. The US government has put a spoke in Pfizer’s wheels - an unfair move, Allergan says.

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