STOCKHOLM, Sweden, April 7, 2003 (PRIMEZONE) -- In a press release today, Straumann Holding AG ("Straumann") announced the following public offer to the shareholders of and the holders of warrants issued by Biora AB ("Biora"):
- SEK 17 per ordinary share of Biora;
- SEK 1.50 for each warrant 2001/2004 issued by Biora.
The Board of Directors of Biora (the "Board") has retained Enskilda Securities to evaluate the offer. Enskilda Securities has come to the conclusion that the offer is fair from a financial point of view.
The offer by Straumann of SEK 17 per Biora ordinary share implies a premium of approximately 47 per cent compared to the average closing price of Biora shares during the latest 30 trading days. Based on this as well as the fairness opinion provided by Enskilda Securities, the Board unanimously recommends that Biora shareholders and warrant holders accept the Straumann offer.
For further information, please contact: Per Wahlstrom, Chairman of the Board, tel: +46 40 32 13 66
Biora develops manufactures and sells biotechnology-based products to dentists. Its principal product, Emdogain(R)Gel, which is approved for sale in Europe, North America and Japan among others, naturally regenerates tooth-supporting structure that the tooth has lost due to periodontitis. Biora's ordinary shares are listed on the "O-list" of the Stockholm Stock Exchange in Sweden.
This press release may not be released, published or distributed, directly or indirectly, in or into the United States, Australia, Canada or Japan.
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The following files are available for download:
http://www.waymaker.net/bitonline/2003/04/07/20030407BIT00080/wkr0001.doc
http://www.waymaker.net/bitonline/2003/04/07/20030407BIT00080/wkr0002.pdf