Hold the Presses is your online newsportal en brings press releases from around the world. Journalists can use it for free, although it is their responsibilty to check the news. Hold the Presses is in no way responsible for the content of the press releases, the Sender is. We hope you enjoy reading the news we bring you on this website. If a message is published that is not acceptable, we apologize. Please contact us and we will remove the message as soon as possible.

Wednesday, 9 August 2017

Bavarian Nordic Announces Subscription Price and Number of Shares to be Issued to Johnson & Johnson Innovation - JJDC, Inc.

Bavarian Nordic A/S    

Published: 20:23 CEST 09-08-2017 /GlobeNewswire /Source: Bavarian Nordic A/S / : BAVA /ISIN: DK0015998017

Bavarian Nordic Announces Subscription Price and Number of Shares to be Issued to Johnson & Johnson Innovation - JJDC, Inc.

COPENHAGEN, Denmark, August 9, 2017 - Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) announces the subscription price and the number of new shares to be issued to Johnson & Johnson Innovation - JJDC, Inc. (JJDC) in connection with the license and collaboration agreement entered into on July 27, 2017 with Janssen Pharmaceuticals, Inc., part of the Janssen Pharmaceutical Companies of Johnson & Johnson (see company announcements no. 20/2017 and 21/2017 for additional details).

 

The subscription price is DKK 405.1578 per share of DKK 10 and has been calculated based on the simple average of the volume weighted average price of the Company's shares on Nasdaq Copenhagen (Bloomberg VWAP for BAVA.DC) during a period of ten consecutive trading days starting on July 27, 2017 and ending today.

 

According to the subscription agreement entered into on July 27, 2017 between JJDC and Bavarian Nordic, JJDC will subscribe for Bavarian Nordic shares for USD 33,000,000, corresponding to DKK 207,482,135.

 

Consequently, Bavarian Nordic will issue 512,102 new shares of DKK 10 each (equal to approximately 1.63 per cent of existing share capital of the Company) at a price of DKK 405.1578 per share. The new shares will be issued upon closing of the transaction with Janssen which is awaiting clearance under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act. The Company will issue a company announcement when this happens.

 

About Bavarian Nordic

Bavarian Nordic is a fully integrated biotechnology company focused on the development, manufacturing and commercialization of cancer immunotherapies and vaccines for infectious diseases, based on the Company's live virus vaccine platform. Through long-standing collaborations, including a collaboration with the U.S. government, Bavarian Nordic has developed a portfolio of vaccines for infectious diseases, including the non-replicating smallpox vaccine, IMVAMUNE®, which is stockpiled for emergency use by the United States and other governments. The vaccine is approved in the European Union (under the trade name IMVANEX®) and in Canada. Bavarian Nordic and its partner Janssen are developing an Ebola vaccine regimen, and vaccines for the prevention and treatment of HPV, HBV and HIV. Additionally, in collaboration with the National Cancer Institute, Bavarian Nordic has developed a portfolio of active cancer immunotherapies, including PROSTVAC®, which is currently in Phase 3 clinical development for the treatment of advanced prostate cancer. The company has partnered with Bristol-Myers Squibb for the potential commercialization of PROSTVAC. For more information visit www.bavarian-nordic.com or follow us on Twitter @bavariannordic.

 

Forward-looking statements

This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and/or other information that is not historical information. All such forward-looking statements are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.

 

Contacts

Rolf Sass Sørensen

Vice President Investor Relations (EU)

Tel: +45 61 77 47 43

 

Seth Lewis

Vice President Investor Relations (US)

Tel: +1 978 341 5271

 

Company Announcement no. 22 / 2017



2017-22-en



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Bavarian Nordic A/S, Hejreskovvej 10A, Kvistgård 3490, Danmark
If you would like to unsubscribe and stop receiving these e-mails click here.