Holta Life Sciences becomes a cornerstone investor in Handicare
Handicare Group AB (publ) (“Handicare” or the “Company”), a leading global provider of mobility solutions in the Accessibility and Patient Handling markets, has together with the owners of the Company decided to diversify the shareholder base by a sale of new and existing shares (the “Offering”). The Board of Directors of Handicare has therefore applied for the Company’s shares to be listed on Nasdaq Stockholm. The Prospectus for the Offering is published today and the first day of trading is expected to be on 10 October 2017.
Three cornerstone investors have, subject to certain conditions, undertaken to acquire shares in the Offering corresponding, in aggregate, to 12.7% of the outstanding shares in the Company upon completion of the Offering, corresponding to approximately SEK 373 million (approximately EUR 39 million). The cornerstone investors are The Forth Swedish National Pension Fund (committed to acquire 5.1% of the outstanding shares in the Company following the Offering), Danica Pension (4.19%) and Holta Life Sciences AS (3.4%).
Karo Pharma reaches more than 90% acceptances in Weifa
As of today Karo Pharma has received acceptances under the Voluntary Offer for a total of 32 949 919 shares representing approximately 90.3 % of the total shares in Weifa on a fully diluted basis. This includes the shares comprised by pre-acceptances. Accordingly, the conditions for completion of the Voluntary Offer have now been met.
The offer period for the Voluntary Offer expires at 16:30 hours CEST on 3 October 2017. The offer period will not be extended any further by Karo Pharma.
Karo Pharma AB announces a recommended voluntary cash offer to acquire all shares in Weifa ASA
Karo Pharma AB (publ) (“Karo Pharma”) and Weifa ASA (“Weifa”; OSE: WEIFA) today announced a transaction agreement whereby Karo Pharma, will launch a recommended voluntary cash offer (the “Offer”) to acquire the entire issued share capital of Weifa for NOK 35 per share in cash. The Offer values the total share capital of Weifa at approximately NOK 1.28 billion on a fully diluted basis. The Board of Directors of Weifa has decided to recommend that its shareholders accept the Offer. Weifa is listed on Oslo Stock Exchange and Karo Pharma is listed on Nasdaq Stockholm.
Gentian Diagnostics listed on Merkur Market
Gentian Diagnostics AS was today admitted to trading on Merkur Market. The shares will be listed under the ticker “GENT-ME”.
Holta Life Sciences is currently the largest shareholder of Gentian Diagnostics, and will continue to be an active investor also after the listing.
Evonik acquires Biolink’s subsidiary Medpalett AS
Evonik Industries acquires the company MedPalett AS, with headquarters in Sandnes (Norway), on March 3, 2016. MedPalett AS specializes in food ingredients containing anthocyanins. The acquisition helps Evonik expand the portfolio of its Health Care Business Line in the area of advanced food ingredients. The parties have agreed not to disclose the purchase price.
Anthocyanins are known for their natural antioxidant properties. Numerous international studies suggest broad health-promoting properties including the prevention of cardiovascular disease.
“We are seeing an increase in demand for innovative food ingredients, especially those made from natural substances with scientifically proven benefits, and that’s something we want to be a part of,” says Dr. Reiner Beste, chairman of the Board of Management of Evonik Nutrition & Care GmbH.
MedPalett, which previously belonged to the Norwegian Biolink Group, developed a berry extract from wild Scandinavian bilberries and black currants from New Zealand that has a particularly high and stable anthocyanin content. The company manufactures the ingredient itself. The berry extract, which is marketed as a dietary supplement under the brand name Medox®, has been available in Scandinavia since the year 2000.
Evonik has distributed the berry extract since 2015 under the name Healthberry™ 865, with exclusive distribution rights in Canada, Brazil, China, Japan, Korea, Australia, New Zealand, and South Africa.
“We have been a partner to the food ingredients industry for decades with our high-purity amino acids. Expanding our portfolio with nutritional solutions which promote health is a logical step in the development of our Health Care business,” says Dr. Jean-Luc Herbeaux, head of the Health Care Business Line at Evonik. For MedPalett, the integration into the Evonik Group primarily means improved access to international markets and higher R&D resources.
Strongbridge Biopharma plc Announces Pricing of Its Initial U.S. Public Offering
DUBLIN, Ireland and TREVOSE, Pa., Oct. 16, 2015 (GLOBE NEWSWIRE) — Strongbridge Biopharma plc (Nasdaq:SBBP) announced today the pricing of its initial U.S. public offering of 2,500,000 ordinary shares at a price to the public of $10 per share, for total gross proceeds of approximately $25 million. In connection with the offering, Strongbridge Biopharma has granted to the underwriters a 30-day option to purchase up to an additional 375,000 ordinary shares at the public offering price, less the underwriting discount. Strongbridge Biopharma’s ordinary shares are currently quoted on the NOTC A-list in Norway and are expected to begin trading on The NASDAQ Global Select Market under the symbol “SBBP” on October 16, 2015. On October 14, 2015, the last reported sale price of Strongbridge Biopharma’s ordinary shares on the NOTC was NOK 120 per share, equivalent to a price of $14.82 per share, assuming an exchange rate of NOK 8.0982 per U.S. dollar.
Cortendo AB Raises up to $27.5M in Additional Private Placement with Leading U.S. and EU Healthcare Investors
Cortendo AB [ticker: CORT on NOTC-A], a global biopharmaceutical company focused on orphan endocrine disorders, today announced it has entered agreements with leading U.S. institutional specialist healthcare investors RA Capital Management, New Enterprise Associates (NEA) and Broadfin Capital. HealthCap, a leading European venture capital healthcare investor, also agreed to increase its existing investment in the company, bringing this private placement to a total of up to $27.5 million (equivalent to approximately SEK 221 million).
“This agreement with three new leading U.S. institutional investors and HealthCap demonstrates their confidence in Cortendo and significantly strengthens the Company as we move forward with our U.S. financing strategy in 2015,” said Matthew Pauls, President and CEO of Cortendo. “We are initially focused on developing and commercializing innovative products for orphan endocrine diseases, led by COR-003 in Phase 3 development for endogenous Cushing’s syndrome. We also intend to leverage both our commercial and late-stage development expertise and work with potential partners to expand our orphan disease portfolio.”
Cortendo Announces HealthCap Leads $11M Private Placement
Cortendo AB [ticker: CORT on NOTC-A], a global biopharmaceutical company focused on orphan endocrine disorders, today announced that it has entered into an agreement with HealthCap, the Third Swedish National Pension Fund (“AP3”), Storebrand and Arctic Fund Management for a private placement of 19,315,000 million shares of Cortendo at SEK 4.22 (equivalent to NOK 3.8) per share, resulting in gross proceeds of approximately SEK 81.5 million, equivalent to $11 million.
“The investments from HealthCap, AP3, Storebrand and Arctic Fund Management show confidence in our ability to deliver on our vision of building a global biopharmaceutical company to bring innovative therapies to patients who suffer from rare, endocrine diseases,” said Matthew Pauls, President and CEO of Cortendo.
HealthCap, one of the largest specialized providers of venture capital in the European life sciences industry, AP3, Storebrand and Arctic Fund Management will make the investment, subject to, among other things, approval by the shareholders of Cortendo at an Extraordinary General Meeting to be held on or about 1 December 2014.
“We welcome this opportunity to invest in Cortendo’s development and commercialization plans for COR-003,” said Dr. Mårten Steen of HealthCap. “Cortendo has made important recent progress, and we believe in the company’s ability to bring a new treatment for patients with Cushing’s syndrome to the market.”
Holta Life Sciences becomes one of the leading shareholders in Weifa ASA
Weifa is Norway’s leading fully-integrated pharmaceutical company. Weifa was established in 1940 and employs approximately 180 people. The company has a strong position in Norway, and is the market leader in pain relief with established products such as Paracet and Ibux. Weifa is also present in other areas like dietary supplements, treatment for colds and respiratory problems. In addition the company has a considerable international business as a leading producer of metformin and opiates.
Holta Life Sciences invests in Nordic Nanovector
Nordic Nanovector AS is a privately held company based in Oslo, Norway. The company was established in 2009 and its mission is to develop innovative radioimmunotherapeutics that target difficult to treat cancers using the company’s proprietary nanovector targeting technology.
Nordic Nanovector intends to commercialise its product candidates through strategic alliances and partnerships with experienced oncology businesses and by establishing its own sales and marketing capabilities in selected markets.