Bavarian Nordic closes transaction with Janssen Pharmaceuticals
Collaboration grants Janssen the exclusive rights to Bavarian Nordic’s MVA-BN technology for two additional programs, targeting vaccines against hepatitis B virus and the human immunodeficiency virus.
Bavarian Nordic has announced the closing of the transaction with Janssen Pharmaceuticals Inc., part of the Janssen Pharmaceutical Companies of Johnson & Johnson regarding the license and collaboration agreement entered into on 27 July 2017. The transaction has been cleared under the Hart-Scott-Rodino Antitrust Improvements Act.
Consequently, Bavarian Nordic completes the direct placement to Johnson & Johnson Innovation - JJDC, Inc., consisting of 512,102 new shares of nominal value DKK 10 each (corresponding to approximately 1.63% of the Company's existing share capital) issued at a subscription price of DKK 405.1578 per new share raising gross proceeds to Bavarian Nordic of DKK 207.5 million.
Pursuant to section 10 of Executive Order no. 1526 of 9 December 2016 on Issuers' Disclosure Obligations, the total nominal value of Bavarian Nordic A/S' share capital after registration of the capital increase with the Danish Business Authority will amount to DKK 319,813,150, which is made up of 31,981,315 shares of a nominal value of DKK 10 each, corresponding to 31,981,315 votes.
The new shares will be admitted to trading and official listing on Nasdaq Copenhagen as soon as possible.
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