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.
Login required
This content is only available for logged in users
ExpreS2ion Biotech Holding
ExpreS2ion Biotech Holding är ett forsknings- och utvecklingsbaserat bolag som har en patenterad plattform inom bioteknisk proteinproduktion. Bolaget har sin egen utvecklingspipeline av vaccinkandidater inom COVID-19, bröstcancer, influensa och malaria. Dessutom har bolaget intäkter från försäljning av tillverkningstjänster och plattformslicenser. Bolaget startade 2010 och har sin verksamhet i DTU Forskerpark i Hørsholm.
Read more on company page