HOERSHOLM, Denmark, April 12 /PRNewswire/ --
* Pharmexa has entered into an agreement to acquire GemVax AS, a
private Norwegian biotech company focusing on cancer vaccines
* The purchase price will be paid in newly issued Pharmexa shares and
by issuance of a convertible debt instrument
* To finance the combined product pipeline of the two companies,
including two large phase III studies in pancreatic cancer,
Pharmexa intends to launch a rights issue with minimum proceeds of DKK
150 million and maximum proceeds of approximately DKK 320 million.
* The acquisition of GemVax and the rights issue are subject to approval
of Pharmexa's shareholders at the annual general meeting on 29 April
This is not the complete press release. To view the complete press release, please see enclosed PDF-file.
Horsholm, 12 April 2005
Chief Executive Officer
Jakob Schmidt, Chief Executive Officer, telephone +45 4516 2525
CONTACT: Jakob Schmidt, Chief Executive Officer of Pharmexa A/S,+45-4516-2525