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.
Login required
This content is only available for logged in users
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.
Read more on company page