First premature infant recruited in Kiobrina study - triggers
milestone payment from Biovitrum
Biovitrum AB (publ) is in clinical phase II with the Kiobrina project
and the first preterm infant has been recruited. This triggers a
milestone payment from Biovitrum.
Kiobrina(TM) is a recombinant, biotechnically produced human enzyme
(BSSL) that breaks down fat in the intestine. Kiobrina is intended as
replacement therapy administered orally to preterm infants to improve
their growth and development. At present, there is no equivalent
treatment available.
BSSL is a very important lipase (enzyme that breaks down fat)
normally found in breast milk. The breast milk pasteurization heating
procedure causes inactivation of BSSL. Consequently, infants who are
given pasteurized breast milk or formula that does not contain BSSL
do not receive this important enzyme. Despite efforts to optimize the
supply of nutrients, preterm infants often suffer from inhibited
growth due to insufficient uptake of fat. Replacement therapy with
recombinant human BSSL could therefore improve the growth of these
infants and have a positive effect on their later development.
With the authority granted by the Annual General Meeting of May 3,
2007, the board of directors of Biovitrum has decided in favor of new
issue of no more than 142,422 new shares, which will increase the
company's capital stock by maximum SEK 78,145.50. Deviating from
stockholders' right of priority, the issue serves as milestone
compensation to certain sellers of Arexis AB, which Biovitrum
acquired in 2005. The subscription price amounts to SEK 72.51 which
equals the average share price for the last four trading days
preceding the board decision.
About Biovitrum
Biovitrum is a pharmaceutical company with operations in Sweden and
in the UK. Biovitrum has currently a research portfolio with several
projects in clinical and preclinical phases for a number of well
defined specialist indications as well as for common diseases within
obesity, diabetes, inflammation and eye diseases. Biovitrum develops
and produces protein-based drugs on a contractual basis and markets a
range of specialist pharmaceuticals primarily in the Nordic
countries. Biovitrum has revenues of approximately SEK 1.2 billion
and around 500 employees. Biovitrum's share is listed on the OMX
Nordic Exchange in Stockholm since September 15, 2006. For more
information see www.biovitrum.com.
For more information, please contact:
Biovitrum AB (publ)
Martin Nicklasson,
CEO
Phone: +46 8 697 20 00
martin.nicklasson@biovitrum.com
Erik Kinnman, VP Investor Relations & Public Affairs
Cell phone: +46 734 22 15 40
erik.kinnman@biovitrum.com