Summary: Bavarian Nordic increases its share capital by nominally DKK 13,319,840 (1,331,984 new shares of DKK 10 each) as a result of a direct placement to Johnson & Johnson Development Corporation ("JJDC") in connection with the license and supply agreement for the Company's MVA-BN® vector in respect of Ebola with Crucell Holland B.V., one of the Janssen Pharmaceutical companies of Johnson & Johnson.
KVISTGAARD, Denmark, October 29, 2014 - Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) announces the completion of the direct placement of 1,331,984 new shares of nominal value DKK 10 each (corresponding to approximately 4.85% of the Company's share capital after completion of the direct placement) in Bavarian Nordic at a subscription price of DKK 188.4407 per new share to JJDC, raising gross proceeds to Bavarian Nordic of DKK 250,999,997.35.
The direct placement, which is made in connection with the license and supply agreement for the Company's MVA-BN® vector in respect of Ebola between Bavarian Nordic and Crucell Holland B.V., one of the Janssen Pharmaceutical companies of Johnson & Johnson, was originally announced on 22 October 2014 (Company Announcements Nos. 22 and 23).
Bavarian Nordic's share capital will amount to DKK 274,448,470 after registration of the capital increase with the Danish Business Authority. Bavarian Nordic's new articles of association will be published separately and will be available at Bavarian Nordic's website, www.bavarian-nordic.com (http://www.bavarian-nordic.com).
It is expected that the new shares will be admitted to trading and official listing on Nasdaq Copenhagen on 31 October 2014.
Contacts
Rolf Sass Soerensen, Vice President Investor Relations (EU). Phone +45 61 77 47 43
Seth Lewis, Vice President Investor Relations (US). Phone + 1 978-298-5654
About Bavarian Nordic
Bavarian Nordic is an international biotechnology company developing and manufacturing novel cancer immunotherapies and vaccines for infectious diseases. Lead product candidates are PROSTVAC®, an immunotherapy product candidate for advanced prostate cancer that is the subject of an ongoing pivotal Phase 3 clinical trial, and IMVAMUNE®, a non-replicating smallpox vaccine candidate in Phase 3 development, which is being developed and supplied for emergency use to the U.S. Strategic National Stockpile under a contract with the U.S. Government. The vaccine is approved in Canada under the trade name IMVAMUNE and in the European Union under the trade name IMVANEX.
Bavarian Nordic's shares are listed on NASDAQ OMX Copenhagen under the symbol BAVA (Reuters: BAVA.CO, Bloomberg: BAVA.DC). The company has a sponsored Level 1 ADR program listed in the US (OTC) under the symbol BVNRY.
For more information, visit www.bavarian-nordic.com (http://www.bavarian-nordic.com).
About MVA-BN®
MVA-BN (Modified Vaccinia Ankara - Bavarian Nordic) is a proprietary and patented vaccine platform technology of Bavarian Nordic. MVA-BN is a robust and adaptable platform suitable for addressing a wide variety of infectious diseases, including biological threats.
In addition to developing MVA-BN as a safer smallpox vaccine (approved in the EU and Canada) essential to protecting the immune-compromised population, Bavarian Nordic has conducted more than a dozen preclinical and clinical studies of recombinant MVA-BN-based vaccines. More than 7,500 individuals, nearly 1,000 of whom are immunocompromised, have been vaccinated with MVA-BN-based vaccines, showing the platform displays high immunogenicity and a favorable safety profile.
Forward-looking statements
This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside of our control that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and/or other information that is not historical information. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Bavarian Nordic A/S via Globenewswire
