ExpreS2ion to receive approximately SEK 22.5 million dividend payment from AdaptVac ApS
Hørsholm, Denmark, 23 April 2024 – ExpreS2ion Biotech Holding AB’s affiliate ExpreS2ion Biotechnologies ApS (“ExpreS2ion") today announced that it has been notified by the Board of Directors of its associated company, AdaptVac ApS, of the resolution to pay a dividend of DKK 42.5 million (SEK 66.1 million) to its owners. As a result of ExpreS2ion Biotechnologies ApS holding a 34% stake in AdaptVac ApS, ExpreS2ion will receive approximately DKK 14.5 million (SEK 22.5 million), expected in the very near future.
The dividend follows AdaptVac's receipt of a EUR 10 million milestone payment from Bavarian Nordic A/S related to completion in 2023 of the Phase III clinical trial of the ABNCoV2 COVID-19 vaccine, which was licensed to Bavarian Nordic. The ABNCoV2 program, in which ExpreS2ion played a key role, has not only resulted in this significant dividend payment but has also provided clinical Phase III validation of ExpreS2ion's ExpreS2 platform for protein production and AdaptVac’s VLP technology.
"Completion of the Phase III clinical trial and this dividend payment is a testament to the success of our collaborative approach when advancing innovative vaccine candidates," said Bent U. Frandsen, CEO of ExpreS2ion Biotech. "We are proud to have contributed to the development of the ABNCoV2 vaccine and highly motivated by the potential of the ExpreS2 platform. This dividend payment strengthens our financial position to continue driving innovation in vaccine development and beyond," added Mr. Frandsen.
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This press release constitutes inside information that ExpreS2ion Biotech Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out below, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.
For further information about ExpreS2ion Biotech Holding AB, please contact:
Bent U. Frandsen, CEO
Keith Alexander, CFO
E-mail: investor@expres2ionbio.com
About ExpreS2ion
ExpreS2ion is a biotechnology company that develops innovative vaccines for a healthier world. We want to transform healthcare by developing novel vaccines, that are life-saving and improving quality of life across the world. ExpreS2ion has developed the unique human clinical Phase III-validated technology platform, ExpreS2™, for fast and efficient development and production of the active material in vaccines. The platform, under the brand GlycoX-S2™, includes functionally modified glycosylation variants for enhanced immunogenicity and pharmacokinetics. Since 2010, ExpreS2ion has produced more than 500 proteins and virus-like particles (VLPs) in collaboration with leading research institutions and companies. ExpreS2ion develops novel VLP based vaccines in association with AdaptVac ApS, of which ExpreS2ion owns 34%. For additional information, please visit www.expres2ionbio.com.