Kiobrina(TM) is a recombinant, biotechnically produced human enzyme (BSSL) that breaks down fat in the intestine. Kiobrina is intended as replacement therapy administered orally to preterm infants to improve their growth and development. At present, there is no equivalent treatment available.
BSSL is a very important lipase (enzyme that breaks down fat) normally found in breast milk. The breast milk pasteurization heating procedure causes inactivation of BSSL. Consequently, infants who are given pasteurized breast milk or formula that does not contain BSSL do not receive this important enzyme. Despite efforts to optimize the supply of nutrients, preterm infants often suffer from inhibited growth due to insufficient uptake of fat. Replacement therapy with recombinant human BSSL could therefore improve the growth of these infants and have a positive effect on their later development.
With the authority granted by the Annual General Meeting of May 3, 2007, the board of directors of Biovitrum has decided in favor of new issue of no more than 142,422 new shares, which will increase the company’s capital stock by maximum SEK 78,145.50. Deviating from stockholders’ right of priority, the issue serves as milestone compensation to certain sellers of Arexis AB, which Biovitrum acquired in 2005. The subscription price amounts to SEK 72.51 which equals the average share price for the last four trading days preceding the board decision.
About Biovitrum
Biovitrum is a pharmaceutical company with operations in Sweden and in the UK. Biovitrum has currently a research portfolio with several projects in clinical and preclinical phases for a number of well defined specialist indications as well as for common diseases within obesity, diabetes, inflammation and eye diseases. Biovitrum develops and produces protein-based drugs on a contractual basis and markets a range of specialist pharmaceuticals primarily in the Nordic countries. Biovitrum has revenues of approximately SEK 1.2 billion and around 500 employees. Biovitrum’s share is listed on the OMX Nordic Exchange in Stockholm since September 15, 2006. For more information see www.biovitrum.com.
