Kiobrina® clinical phase II results trigger milestone payment from Swedish Orphan Biovitrum
Pursuant to the share transfer agreement entered into by Swedish Orphan
Biovitrum in August 2005 in connection with the acquisition of Arexis AB
("Arexis"), the vendors of Arexis are entitled to milestone payments, in cash
and by issuance of shares, upon achievement of certain milestones related to
Swedish Orphan Biovitrum's Kiobrina project. Positive results from such studies
were announced in a press release on April 21, 2010.
In accordance with the terms of the share transfer agreement, and based on the
authorization granted by the Annual General Meeting on April 28, 2009, the board
of directors of Swedish Orphan Biovitrum has resolved to new issue no more than
282,425 new common shares for payment by set off of claims of in total SEK
12,353,269.50 which may increase the company's share capital by no more than SEK
154,966. With deviation from the shareholders' preferential right, the issue
serves as milestone payment to certain vendors of Arexis. The subscription price
amounts to SEK 43,74, which equals the average share price for the last four
trading days preceding the board's decision.
About Swedish Orphan Biovitrum
On January 14, 2010, Biovitrum AB (publ) completed the acquisition of Swedish
Orphan International Holding AB and created Swedish Orphan Biovitrum - a leading
company focused on treatment of rare diseases.
Swedish Orphan Biovitrum is a Swedish based specialty pharmaceutical company
with an international market presence. The company is focused on providing and
developing orphan and niche specialist pharmaceuticals to patients with high
medical needs. The portfolio consists of about 60 marketed products and an
emerging late stage clinical development pipeline within rare diseases. Swedish
Orphan Biovitrum has pro-forma revenues 2009e of about 2 BSEK and approximately
500 employees. The head office is located in Sweden and the share (STO: BVT) is
listed on NASDAQ OMX Stockholm. For more information please visit
www.biovitrum.com <http://www.biovitrum.com/>.
For more information please contact:
Swedish Orphan Biovitrum:
Erik Kinnman, EVP Investor Relations
Phone: +46 73 422 15 40
erik.kinnman@biovitrum.com <mailto:erik.kinnman@biovitrum.com>
Martin Nicklasson, CEO
Phone: +46 8 697 20 00
Swedish Orphan Biovitrum may be required to disclose the information provided
herein pursuant to the Swedish Securities Markets Act and/or the Financial
Instruments Trading Act. The information was provided for public release on
April 27, 2010 at 8:45 a.m. CET.
