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.
29.07.2015 Newly founded Mereo BioPharma has acquired three mid-stage clinical assets from Novartis. In turn, the Swiss pharma concern will hold a stake in the UK company. Other investors are also on board.
24.07.2015 Biotech companies across Europe continue to raise cash on the public markets, generating €3bn in total financing proceedings in the first half of 2015. Compared to 2014, this is almost twice as much.
23.07.2015 US money keeps flowing into Europe's biotechs. As the race for the peanut allergy market heats up, NASDAQ listed French biotech DBV has announced the successful closing of US$281m (€256m) share offering for its allergy products.
16.07.2015 Sanofi has announced plans to restructure its business in five standalone global business units starting in January 2016. The goal is to promote growth and help the company launch a catalogue of new drugs over the next five years.
15.07.2015 GlaxoSmithKline (GSK) has become the first drugmaker to join the Francis Crick Institute. It is a consortium made up of six scientific and academic institutes to conduct research and drug development in the UK. The new institute is set to become a world-leading centre of biomedical research and innovation.
10.07.2015 Karolinska Development has slashed the reported value of its portfolio by almost half by revising its valuation model for early stage companies and divesting its shares in pain med maker Pharmanest.
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