STOCKHOLM, Sweden, July 7, 2005 (PRIMEZONE) -- Active Biotech announces that, following the close of the subscription period for its share issue of approximately SEK 169 M (18 Million Euro), the issue was oversubscribed by 43 percent.98.5 percent of the shares offered, were subscribed based on subscription rights. Shares offered, which were not subscribed with the support of subscription rights, will be allocated proportionally to those who have subscribed for shares beyond their subscription right.
Through the new share issue, the number of shares in Active Biotech will increase by 5,623,426 to a total of 39,363,983 shares.
Active Biotech's new share issue will be concluded according to the following time schedule:
Notification of possible allocation of shares without the support of subscription rights on or about July 8
Payment for shares allocated without the support of subscription rights on or about July 13
First day of trading in new shares on or about July 25
The conversion price for existing convertible debentures, issued in December 2004, will as a consequence of current new share issue be adjusted accordingly and hence amount to 38.39 SEK.
Active Biotech AB (publ) Sven Andreasson President & CEO
Active Biotech AB is a biotechnology company focusing on research and development of pharmaceuticals. Active Biotech has a strong R&D portfolio with pipeline products focused on autoimmune/inflammatory diseases and cancer. Most advanced projects are laquinimod, an orally administered small molecule with unique immunomodulatory properties for the treatment of multiple sclerosis, as well as ANYARA for use in cancer immunotherapy with the primary indication non-small cell lung cancer. Further key projects in clinical development comprise the three orally administered compounds TASQ for prostate cancer 57-57 for SLE and RhuDex(R) for RA.
Active Biotech AB Box 724, SE-220 07 Lund Tel: +46 46-19 20 00 Fax: +46 46-19 20 50 www.activebiotech.com