WILL ESTABLISH NEW PHARMACEUTICALS COMPANY
- This marks the takeoff of Aker BioMarine`s pharmaceuticals targeting, and by working with Pronova Biocare, we have a running start, says Aker BioMarine President and CEO Helge Midttun.
Plans are to establish the pharmaceuticals company during the spring. The company will be organized as a joint venture, owned 50/50 by Aker BioMarine and Pronova Biocare. Investments in research and development will also be split between the two owners.
Pronova is an internationally recognized leader in the development, production, and commercialization of Omega 3-derived pharmaceuticals. Aker BioMarine is a marine biotechnology company specializing in deliveries of high-value marine ingredients through an optimized value chain, spanning from krill harvesting to customers.
- The complementary resources of the founding partners offer significant potential for both parties and make it realistic to launch new pharmaceutical products derived from krill, Midttun says.
Leading in Omega-3Aker BioMarine is an international marine ingredients company that develops, produces, and markets Omega 3-based products from krill. The announced merger with the biotechnology company Natural, brings key know-how and experience in developing patented solutions for commercialization of lipids (fatty acids) to Aker BioMarine.
Pronova Biocare is a world leader in development, production, and sale of marine Omega 3 fatty acids. The company has developed the pharmaceutical Omacor used in post-heart attack treatment and to reduce elevated triglyceride values in the blood. Omacor is approved by the US Food and Drug Administration (FDA) and by regulatory authorities in a number of European countries. Pronova Biocare has also signed a license agreement with Takeda, one of the world`s largest pharmaceuticals companies for future marketing of Omacor in Japan.
For further information, please contact:Helge Midttun, President and CEO, Aker BioMarine, tel: +47 913 35 790
Brief presentation of Aker BioMarineAker BioMarine and the biotechnology company Natural have entered into a merger agreement. The merged company will hold a unique position as to state-of-the-art expertise throughout its value chain - from research and development, through harvesting, processing and product development, to sales and marketing. The company has about 600 employees; revenues amounted to NOK 460 million in 2006, according to pro forma figures. Following the merger of Aker BioMarine and Natural, Aker will own 72.5 percent of Aker BioMarine. Aker`s ownership is 1.7 percentage points above what was erroneously announced to the market on 27 February.
Brief presentation of Pronova BiocarePronova Biocare is a pharmaceuticals company with some 160 employees and annual revenues of approximately NOK 600 million. Pronova Biocare is headquartered at Lysaker, near Oslo, and has modern cGMP production facilities in Sandefjord, Norway. In 2004, Hydro sold its controlling share interest in Pronova Biocare to Ferd Private Equity and key Pronova Biocare employees; collectively they own 100 percent of the shares of the pharmaceuticals company.