BioGaia’s board of directors has resolved to invest a further SEK 35 million in
the subsidiary Infant Bacterial Therapeutics AB (IBT), in addition to the
approximately SEK 47 million previously decided¹.
IBT has carried out a new issue of 40,000 shares in which all shares have been
subscribed for by BioGaia AB, thereby providing the company with proceeds of
approximately SEK 53 million. BioGaia’s total investment in IBT thus amounts to
approximately SEK 82 million and its holding to 94.5 per cent.
Efforts to evaluate the possibility for a separate listing of IBT are
continuing. As previously communicated, IBT has an estimated capital need of
approximately SEK 130 million to finance the first clinical trial. Following the
issue, IBT’s continued capital need for implementation of the first clinical
trial is currently estimated at approximately SEK 100 million.
IBT’s work is aimed at developing a unique orphan drug to prevent the fatal
disease necrotising enterocolitis (NEC). The project has progressed more rapidly
than previously scheduled and according to the updated development plan, IBT
expects to conduct two clinical trials within the next three years.
Necrotising enterocolitis (NEC) kills approximately 3,700 European and 1,500 US
infants per year. NEC has an unpredictable, spontaneous, and acute onset and is
untreatable, except through major surgery. The long-term complications for
infants who survive NEC vary, but include impairment such as short bowel
syndrome, prolonged neonatal hospitalisation and adverse neurodevelopmental
outcomes, including cerebral palsy, cognitive impairment, and visual and hearing
impairment.
For more information see previous press releases dated 12 June and 24 June 2015,
respectively.
1) Of the previously decided SEK 47 million, BioGaia has paid in approximately
SEK 29 million to date.
Latest press releases from BioGaia
2015-08-18 BioGaia AB Interim Report 1 January – 30 June 2015
2015-07-30 BioGaia’s oral health probiotic reduces Candida in the elderly
2015-06-30 Number of shares in BioGaia AB
BioGaia has published this information in accordance with the Swedish Securities
Market Act. The information was issued for publication on 7 September 2015,
09:00 a.m. CET.
For additional information please contact
Peter Rothschild, Chief Executive Officer, BioGaia: 46 8 555 293 00
BioGaia is a healthcare company that develops, markets and sells probiotic
products with documented health benefits. The products are primarily based on
the lactic acid bacterium Lactobacillus reuteri, which has probiotic, health
-enhancing effects. The class B share of the Parent Company BioGaia AB is quoted
on the Mid Cap list of the NASDAQ OMX Nordic Exchange Stockholm. www.biogaia.com
