LUND, SWEDEN--(Marketwire - March 06, 2013) - Active Biotech (NASDAQ OMX NORDIC: ACTI) today
announces that the company's Board of Directors has, based on the 2012
general meeting's authorization, resolved to issue in total 6,000,000 new
in Active Biotech to Investor AB (publ).
The shares are issued at a subscription price of SEK 45 per share,
company with in total approximately SEK 270 million after transaction
closing price for the Active Biotech share on NASDAQ OMX Stockholm on March
5, 2013 was SEK 48.80.
The issue proceeds are intended to be used to strengthen Active Biotech's
capital base and to enable the continued development and value-growth of
project portfolio, of which TASQ is financed under the partner agreement
Ipsen Pharma, whilst 57-57, ANYARA and ISI are managed and financed on a
proprietary basis. The development of laquinimod and RhuDex are managed and
financed by partners. The new issue also strengthens Active Biotech's
in discussions with potential partners.
The Board considers it being beneficial for the company and the
broaden the shareholder base and to take advantage of the opportunity to
capital on favourable terms for the company from a strong and well renowned
investor. The Board believes that the new issue, which in light of the
made with deviation from the shareholders' pre-emptive rights, will promote
creation of value for all shareholders of the company. Active Biotech's two
largest shareholders MGA Holding AB and Nordstjernan AB, and East Bay AB,
joint holding of votes and shares of approximately 44 percent, have stated
they support the new issue.
Tomas Leanderson, CEO of Active Biotech comments: "I am very pleased to see
Active Biotech's project portfolio has obtained additional financing from
Investor. Active Biotech's portfolio has now matured and, accordingly, our
over the next 18-month period will be on finding suitable partners and
partnering structures for each project. A strong financial position is a
prerequisite in order to succeed with this activity in an optimal way."
Through the new issue, the number of shares in Active Biotech will increase
6,000,000 from 68,923,582 to 74,923,582 and the share capital will increase
SEK 22,616,055.93 from SEK 259,796,597.53 to SEK 282,412,653.46. Investor's
holding will correspond to approximately 8 percent of the shares and votes
Lund, March 6, 2013
Active Biotech AB (publ)
Active Biotech AB (NASDAQ OMX NORDIC: ACTI) is a biotechnology company
focus on autoimmune/inflammatory diseases and cancer. Projects in pivotal
are laquinimod, an orally administered small molecule with
immunomodulatory properties for the treatment of multiple sclerosis,
prostate cancer and ANYARA primarily for the treatment of renal cell
addition, laquinimod is in Phase II development for Crohn's and
company also has one additional project in clinical development, the
administered compound 57-57 for Systemic Sclerosis. Please
www.activebiotech.com for more information.
Active Biotech is obligated to publish the information contained in this
release in accordance with the Swedish Securities Market Act. This
was 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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Source: Active Biotech via Thomson Reuters ONE