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.
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ExpreS2ion Biotech Holding
ExpreS2ion is a Danish-based biotech company listed in Sweden. The company develops a portfolio of vaccines for diseases such as COVID-19, influenza, and breast cancer through the use of its non-viral cell-based expression system, ExpreS2, which is recognized for handling protein challenges. ExpreS2ion has developed Expres2, which is a technology platform for efficient and fast non-clinical development and production of complex proteins for new vaccines and diagnostics. The company’s current primary product is the corona vaccine candidate, ABNCoV2 in phase 2, co-developed with its partner, AdaptVac of which ExpreS2ion owns 34%. The vaccine candidate has been licensed to Bavarian Nordic has global commercialization rights and responsibility for further clinical development of the vaccine and is expected to initiate phase 3 testing for the product candidate in the first half of 2022.
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