Active Biotech completes sale of property
PRESS RELEASE Lund Sweden, April 5 2019 – Active Biotech (NASDAQ STOCKHOLM: ACTI) Active Biotech completes sale of property
Active Biotech AB (publ) has today completed the sale of the Company’s property Forskaren 1 in Lund.
As previously announced Active Biotech entered into an agreement on March 13, 2019 regarding sale of the Company’s property Forskaren 1 in Lund, Sweden, with a newly formed investor collective led by the real estate company Estea AB.
Active Biotech’s largest shareholder, MGA Holding AB, had, on the request of Estea, declared its willingness to participate with up to 40 percent of Estea’s equity financing. Hence, the sale was conditional on approval by the shareholders of Active Biotech. Such approval was given at the extraordinary general meeting held on April 4, 2019, where after the sale was completed today, April 5, 2019.
The purchase price amounts to SEK 275 million, which corresponds to the property’s book value. Together with the rights issue of approximately SEK 47 million that was completed in 2018, the proceeds from the sale of the property are expected to finance the Company’s operations under the current business plan. The property sale entails a capital injection of approximately SEK 70 million.
Lund April 5, 2019
President & CEO
For further information, please contact:
Helén Tuvesson, CEO
Tel. +46 46 19 21 56
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 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 14.15p.m. CET on April 5, 2019.
This announcement is distributed by West Corporation on behalf of West Corporation clients.
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