ACTIVE becomes Active Biotech - operations concentrated on biotechnology
ACTIVE's Special General Meeting today decided unanimously to approve the Board of Director's proposal to concentrate ACTIVE's operations on biotechnology, which is considered to have the largest potential for creating values for the shareholders. The Company will change its name to ACTIVE BIOTECH AB (publ). Other operations will be divested with the greatest possible care in order to safeguard the interests of the shareholders.
ACTIVE BIOTECH owns SBL Vaccin AB, Solna, which was recently acquired from the Swedish Government, and ACTINOVA Ltd, Cambridge. Both companies have interesting research portfolios. ACTIVE BIOTECH's project catalogue comprises:
- ETEC vaccine
- Cholera vaccine
- Polio vaccine
- Streptococcus vaccine
- Anti-inflammatory therapy
- Anti-thrombosis therapy
- Affinity proteins
Following the concentration, the balance sheet total will be substantially reduced with improved key figures, including strengthened liquidity and equity ratio.
Industrifonden has granted SBL Vaccin a conditional loan for SEK 25M for rCTB, cholera and ETEC vaccine manufacturing. ACTINOVA Ltd has entered into a product development and distribution agreement with MBI Fermentas Inc., Buffalo, N.Y., regarding the marketing of protein L on the North American biotechnology market.
Malmö, October 20, 1997
ACTIVE i Malmö AB (publ)