SOURCE: Active Biotech

February 14, 2007 07:36 ET

Active Biotech's new share issue oversubscribed

LUND, SWEDEN -- (MARKET WIRE) -- February 14, 2007 -- After the expiration of the subscription period for Active Biotech's new share issue totaling SEK 240 M, a count has shown that the issue is oversubscribed by 53%. 99.1% of the shares offered were subscribed for with the support of subscription rights. The shares subscribed for without the support of subscription rights will be distributed in proportion to the number of shareholders who subscribed for shares in excess of their preferential-rights allocation.

The new share issue will increase the number of shares in Active Biotech by 4 million to 44 million shares.

Active Biotech's new share issue will be completed in accordance with the following timetable:

+-------------------------------------------------------------------+
| Notification  of  possible  allocation   of | Around February 15, |
| shares subscribed for without               | 2007                |
| the support of subscription rights          |                     |
|---------------------------------------------+---------------------|
| Last day  of payment  for shares  allocated | Around February 20, |
| based on subscription without               | 2007                |
| the support of subscription rights          |                     |
|---------------------------------------------+---------------------|
| First day of trading in new shares          | Around February 26, |
|                                             | 2007                |
+-------------------------------------------------------------------+
The conversion price for existing convertible debentures issued in December 2004 will be recalculated as a consequence of the share issue currently being implemented, and will thereafter amount to SEK 37.42.

Lund, February 14, 2007

Active Biotech AB (publ)


Sven Andréasson
President & CEO

For further information, please contact:
Sven Andréasson, President & CEO, tel. +46 46-19 20 49
Hans Kolam, CFO, tel. +46 46-19 20 44
Cecilia Hofvander, Manager Corporate  Communications, tel. +46  46-19
11 22
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 targeted therapy, the primary indication being renal cancer. Further key projects in clinical development comprise the three orally administered compounds TASQ for prostate cancer 57-57 for SLE and RhuDex® for RA. In addition, the preclinical development of the I-3D project is being conducted in cooperation with Chelsea Therapeutics.
Active Biotech AB (org.nr 556223-9227)
P.O. Box 724, SE-220 07 Lund, Sweden
Tel +46 46 19 20 00
Fax +46 46 19 20 50

Copyright © Hugin ASA 2007. All rights reserved.

Contact Information