ExpreS2ion Biotechnologies: Associated company AdaptVac receives milestone payment
ExpreS2ion Biotechnologies today announced, that AdaptVac which ExpreS2ion owns 34% of, has received EUR 10 million in milestone payment from Bavarian Nordic after the completion of the clinical Phase III study of the COVID-19 vaccine ABNCoV2.
It was also announced that the board of AdaptVac has agreed to pay out excess capital in AdaptVac to the shareholders of AdaptVac, but no amount was mentioned. However, it is also stated in the announcement that the shareholders in AdaptVac have agreed on retaining part of the dividends received to be invested in the Company’s platform technology and pipeline assets.
The amount fits with what has been discussed in markets and the provisions made during Q3 2023 in the notes in Bavarian Nordic's reports.
ExpreS2ion Biotechnologies is a Danish pharmaceutical company, which focuses on the development of vaccines through the use of its non-viral Drosophila S2 cells-based expression system.
Disclaimer: HC Andersen Capital receives payment from ExpreS2ion Biotechnologies for a Corporate Visibility/Digital IR subscription agreement. /Michael Friis 13.20 21 February 2024.
ExpreS2ion Biotech Holding
ExpreS2ion er en biotekvirksomhed med base i Danmark, men børsnoteret i Sverige. Virksomheden udvikler en portefølje af vacciner mod sygdomme som COVID-19, influenza og brystkræft gennem brugen af dets cellebaserede ekspressionssystem, ExpreS2, som er anerkendt for at håndtere protein udfordringer. ExpreS2ion har udviklet Expres2, som er en teknologiplatform til effektiv og hurtig ikke-klinisk udvikling og produktion af komplekse proteiner til nye vacciner og diagnostik. På nuværende tidspunkt er selskabets primære produkt corona-vaccinekandidaten, ABNCoV2 som er i fase 2, udviklet sammen med sin partner, AdaptVac, hvoraf ExpreS2ion ejer 34%. Vaccinekandidatens licensret tilhører Bavarian Nordic som har globale kommercialiseringsrettigheder og ansvar for yderligere klinisk udvikling af vaccinen.
Read more on company page