Expres2ion Biotechnologies: Receives dividends from AdaptVac
Today, Expres2ion Biotechnologies announced that it will receive around DKK 14.5 million (SEK 22.5 million) in dividends from its 34% ownership in AdaptVac.
Read the full announcement here: https://investor.expres2ionbio.com/press-releases-cision/
This is in line with earlier announcements from AdaptVac where the company reported that it would pay out excess capital as dividends to its owners, following its EUR 10m milestone payment from Bavarian Nordic. However, no specific amount was indicated in the earlier announcements.
The dividends strengthen Expres2ion Biotechnologies’ financial position and runway to execute on its new strategy of leveraging their product platform focusing on assets with shorter development timelines and maybe more importantly with a path to value creation without need for diluting funding. The cash balance stood at SEK 57.7m by the end of 2023.
Expres2ion Biotechnologies will deliver its Q1 2024 results on 16 May 2024, where the financial results and financial position as well as the latest news regarding the breast cancer candidate could come into focus.
Sign up for the online presentation here:
https://www.inderes.dk/videos/expres2ion-biotechnologies-presentation-of-q1-report-2024
Disclaimer: HC Andersen Capital receives payment from Expres2ion Biotechnologies for a Digital IR/Corporate Visibility subscription agreement. Michael Friis 15:35, 23 April 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.
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