May 03, 2011 -- Isconova acquires the assets of Nordic Vaccine A/S, a Danish research and development company specialised in adjuvants and drug delivery development. The acquisition will significantly strengthen Isconova’s patent position within vaccine systems and adjuvant technology.
Lena Söderström, CEO of Isconova:
“The acquisition of Nordic Vaccine is in line with Isconova’s strategy to take part in the ongoing market consolidation. With the acquired patents we will strengthen our commercial opportunities and patent family within iscom and Matrix™-technologies”
Nordic Vaccine’s product portfolio includes the Posintro™-technology which is closely related to Isconovas Matrix™-technology as well as a preclinical platform for needle free administration of vaccines through a dermal patch system.
Magnus Corfitzen, Investment Director, Sunstone Capital A/S:
“Nordic Vaccine has built a portfolio of intellectual property rights with apparent synergies with Isconova’s technologies and product portfolio. As the main shareholder in Nordic Vaccine A/S we are enthusiastic to take part in this Scandinavian consolidation and become shareholder in Isconova AB, which we believe is a promising international company within adjuvants and vaccines”
The purchase price amounts to SEK 4,032,228 and is paid via a new issue of 120 365 Isconova shares to a price of SEK 33.50 per share, corresponding to a dilution of about 3 percent of the total number of outstanding shares in Isconova. At the same time Nordic Vaccine commits to buying a new issue of Isconova shares to an amount of SEK 873,504 to a price of SEK 33.70 per share, corresponding to a dilution of 0.6 percent of the total number of outstanding shares in Isconova. The proceeds from this new share issue will cover costs for maintenance and administration of the acquired patent family for the coming years. The total dilution amounts to 3.6 percent and the total number of outstanding shares in Isconova will amount to 4 158 452.
For more information, please contact:
Lena Söderström, CEO of Isconova
Tel 0708-16 39 12, e-mail: lena.soderstrom@isconova.com
About Isconova
Isconova AB is a Swedish research and development company specialized in developing and commercializing vaccines through Isconova’s patented adjuvant-technology and unique knowledge of vaccine systems. Isconova develops vaccines together with partners in the veterinary and human markets and has, since 2005, production and sales of vaccine systems on the veterinary market. Isconova’s share is traded on NASDAQ OMX First North and E. Öhman J:or AB is the company’s Certified Adviser. www.isconova.com
About Nordic Vaccine A/S
Nordic Vaccine A/S is a vaccine research and development company, with focus on the development and commercialization of new vaccines for prophylactic and therapeutic use. The company’s development program is based on its proprietary immune stimulating nano-particles, Posintro™, that combines safe and efficient delivery of vaccines with optimal immune responses. Beside traditional injection, the unique features of these nano-particles enable various forms of needle-free delivery, as applied in a new vaccine patch system: TransVac™.
About Sunstone Capital
Sunstone Capital is an independent venture capital investor founded in 2007 by an international team of industry experts with combined entrepreneurial, operational and financial experience. Sunstone Capital focuses on developing and expanding early-stage Life Science and Technology companies with strong potential to achieve global success in their markets. With funds of 500 million Euro under management, Sunstone Capital is one of the largest Nordic-based venture capital investors.
