Investor AB backs Active Biotech with SEK 270m

Investor's holding will correspond to approximately 8% of the shares and voting rights in Active Biotech. The company's share capital will increase by approximately SEK 23m, from SEK 259m to SEK 282m.

Active Biotech's board of directors will issue the shares at a subscription price of SEK 45 per share. The closing price for Active Biotech shares on NASDAQ OMX Stockholm on 5 March 2013 was SEK 48.80 per share.

The fresh capital will be used to strengthen Active Biotech's capital base and to enable the continued development and value growth of the project portfolio.

Active Biotech's largest shareholders – MGA Holding AB, Nordstjernan AB and East Bay AB with a joint holding of approximately 44% – have stated that they support the new issue.

Prior to the emission, MGA Holding owned 28.14% of Active Biotech, while Nordstjernan and East Bay held 14.29% and 1.6% stakes respectively. After the issue, MGA Holding will own 25.88%, Nordstjernan 13.15%, East Bay 1.47% and Investor 8.01%.

Investor's IR department said they were contacted by the company and that they considered Active Biotech to be an interesting investment. No financial advisors participated in the transaction, negotiations took place directly between Investor and Active Biotech.

Company
Based in Lund, Active Biotech is a biotechnology company with a specific focus on autoimmune and inflammatory diseases, as well as cancer.

Projects in the pivotal phase include Laquinimod, a small molecule with unique immunomodulatory properties for the treatment of multiple sclerosis, while its Tasq and Anyara products focus on the treatment of prostate and renal cell cancer respectively.

The company also has one additional project in clinical development, an orally-administered compound addressing systemic sclerosis.

People
Tomas Leanderson is CEO of Active Biotech.

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