As previously reported, Active Biotech's property Forskaren 1 in Lund has been on sale for a period of time. Active Biotech has now received an indicative, non-binding bid for the property, amounting to SEK 275 million from a newly formed investor collective led by the real estate company Estea AB (Estea). The bid corresponds to the property's book value. Active Biotech's Board is in favor of the bid.
The indicative bid is conditional to a successful due diligence process carried out by Estea. No sales agreement has been concluded, and it is not certain that such agreement will be reached, or what the terms for a possible sale of the property will be. Estea will carry out the due diligence process and secure financing during a maximum period of one month.
Active Biotech's largest shareholder, MGA Holding AB (Mats Arnhög), has, on the request of Estea, declared its willingness to participate, with a maximum of 40 percent, to be determined by Estea, of Estea's equity financing. If an agreement with Estea, for the sale of the property is met, the Board's intention is to call for an extraordinary general meeting to let the shareholders decide on the sale.
Lund February 1, 2019
Helèn Tuvesson
President & CEO
For further information, please contact:
Hans Kolam, CFO
Tel +46 46 19 20 44
Active Biotech AB (publ) (NASDAQ Stockholm: ACTI) is a biotechnology company with focus on neurodegenerative/inflammatory diseases and cancer. Laquinimod, an orally administered small molecule with unique immunomodulatory properties in development for neurodegenerative diseases. ANYARA, an immunotherapy, in development for cancer indications in partnership with NeoTX Therapeutics Ltd. Furthermore, commercial activities are conducted for the tasquinimod, paquinimod and SILC projects. Please visit www.activebiotech.com (http://www.activebiotech.com) for more information.
Active Biotech AB
(Corp. Reg. No. 556223-9227)
Box 724, SE-220 07 Lund, Sweden
Tel: +46 (0)46 19 20 00
This information is information that Active Biotech AB is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 16.15 a.m. CET on February 1, 2019.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Active Biotech via Globenewswire
