Active Biotech raises SEK 270 million through a directed new issue to Investor
March 6, 2013 - LUND, SWEDEN
Active Biotech (NASDAQ OMX NORDIC: ACTI) todayannounces that the company's Board of Directors has, based on the 2012annualgeneral meeting's authorization, resolved to issue in total 6,000,000 newsharesin Active Biotech to Investor AB (publ).
The shares are issued at a subscription price of SEK 45 per share,providing thecompany with in total approximately SEK 270 million after transactioncosts. Theclosing price for the Active Biotech share on NASDAQ OMX Stockholm on March5, 2013 was SEK 48.80.
The issue proceeds are intended to be used to strengthen Active Biotech'scapital base and to enable the continued development and value-growth oftheproject portfolio, of which TASQ is financed under the partner agreementwithIpsen Pharma, whilst 57-57, ANYARA and ISI are managed and financed on aproprietary basis. The development of laquinimod and RhuDex are managed andfinanced by partners. The new issue also strengthens Active Biotech'spositionin discussions with potential partners.
The Board considers it being beneficial for the company and theshareholders tobroaden the shareholder base and to take advantage of the opportunity toraisecapital on favourable terms for the company from a strong and well renownedinvestor. The Board believes that the new issue, which in light of theabove ismade with deviation from the shareholders' pre-emptive rights, will promotethecreation of value for all shareholders of the company. Active Biotech's twolargest shareholders MGA Holding AB and Nordstjernan AB, and East Bay AB,with ajoint holding of votes and shares of approximately 44 percent, have statedthatthey support the new issue.
Tomas Leanderson, CEO of Active Biotech comments: "I am very pleased to seethatActive Biotech's project portfolio has obtained additional financing fromInvestor. Active Biotech's portfolio has now matured and, accordingly, ourfocusover the next 18-month period will be on finding suitable partners andpartnering structures for each project. A strong financial position is aprerequisite in order to succeed with this activity in an optimal way."
Through the new issue, the number of shares in Active Biotech will increaseby6,000,000 from 68,923,582 to 74,923,582 and the share capital will increasebySEK 22,616,055.93 from SEK 259,796,597.53 to SEK 282,412,653.46. Investor'sholding will correspond to approximately 8 percent of the shares and votesinActive Biotech.
Lund, March 6, 2013
Active Biotech AB (publ)
Active Biotech AB (NASDAQ OMX NORDIC: ACTI) is a biotechnology companywithfocus on autoimmune/inflammatory diseases and cancer. Projects in pivotalphaseare laquinimod, an orally administered small molecule withuniqueimmunomodulatory properties for the treatment of multiple sclerosis,TASQ forprostate cancer and ANYARA primarily for the treatment of renal cellcancer. Inaddition, laquinimod is in Phase II development for Crohn's andLupus. Thecompany also has one additional project in clinical development, theorallyadministered compound 57-57 for Systemic Sclerosis. Pleasevisitwww.activebiotech.com for more information.
Active Biotech is obligated to publish the information contained in thispressrelease in accordance with the Swedish Securities Market Act. Thisinformationwas provided to the media for publication 8:30 a.m. CET on March 6, 2013.
Active Biotech raises SEK 270 million through a directed new issue to :
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For further information, please contact:
Tel: +46 (0)46 19 20 95
E-mail: Email Contact
Hans Kolam, CFO
Tel: +46 (0)46 19 20 44
E-mail: Email Contact
Active Biotech AB (Corp. Reg. No. 556223-9227)
Box 724, SE-220 07 Lund
Tel: +46 46 19 20 00
Fax: +46 46 19 11 00