Oslo, 22 June 2006
The Board of the Oslo Stock Exchange has today approved the listing of biopharmaceutical company Clavis Pharma ASA. First day of trading is planned for July 7th under the ticker symbol of CLAVIS.
Earlier this week Clavis Pharma completed a well received equity offering, raising in excess of NOK 220 million among large Nordic institutions. The offering has secured the funding of Clavis Pharma's clinical and business development programmes over the next few years.
"The listing on the Oslo Stock Exchange will give us greater financial flexibility in our strategy to build Clavis Pharma into an emerging pharmaceutical company with a portfolio of improved cancer drugs. The public listing represents a great step towards unlocking Clavis Pharma's significant commercial potential", says Tom Pike, CEO of Clavis Pharma.
Following the listing approval by Oslo Børs, the Board of Clavis Pharma has reconfirmed its intention of initiating a retail oriented offering in the period June 26-June 30, closing at 12:00 hours with the aim to increase the number of shareholders.
Carnegie ASA has acted as Lead Manager, DnB NOR Markets as Co-leader and Terra Securities as Sales agent in the listing process.
Further information about the retail offering will be available in the prospectus from
Monday 26th of June at www.carnegie.no, www.dnbnor.no/markets, www.terra.as, or www.clavispharma.com
.
Contact:
Tom Pike
Chief Executive Officer
Tel: + 47 9151 9652
tom.pike@clavispharma.com
www.clavispharma.com
About Clavis Pharma
Clavis PharmaTM was founded in 2001 by Norsk Hydro and NeoMed. The company develops new and superior pharmaceuticals based on its proprietary Lipid Vector Technology (LVT). LVT involves the synthesis of specific fatty acid analogues of pharmaceutical agents, thereby creating new chemical entities with improved biological properties. LVT has the potential to improve drug performance and dosing characteristics and to reduce the side effects of drug treatment for serious illnesses, such as cancer and infectious diseases. The technology is based on more than a decade of research conducted by Norsk Hydro, a major Norwegian industrial group. The intellectual property currently consists of more than 150 internationally granted patents within 5 patent families.
The company's product portfolio includes three new cancer drugs, of which the first ELACYTTM , is in clinical phase II, the second, CP-4126, is entering clinical phase I, and the third is in the pre-clinical phase. Research results so far indicate that ELACYTTM has a promising potential for several cancer indications within solid tumours and leukaemia.
Additional information on Clavis Pharma can be found at: www.clavispharma.com
Disclaimer
The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This news release contains forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on results of operations and the financial condition of Clavis Pharma. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. Theses factors include, among other things, risks associated with technological development, the risk that research & development will not yield new products that achieve commercial success, the impact of competition, the ability to close viable and profitable business deals, the risk of non-approval of patents not yet granted and difficulties of obtaining relevant governmental approvals for new products.
No expressed or implied representations or warranties are given concerning Clavis Pharma or the accuracy or completeness of the information or projections provided herein, and no claims shall be made by the recipient hereof by virtue of this Information Memorandum or the information or projections contained herein. Any representations or warranties made to an investor in Clavis Pharma will be subject to separate sale and purchase agreements to be negotiated between the parties.