Summary:
Affitech A/S today announces that in connection with the process of combining
Pharmexa and Affitech shares have been issued to Affitech shareholders (the
“Consideration Shares”) and such shares have been registered with the Danish
Companies and Commerce Agency. As a further part of the combination of the two
companies a prospectus is currently being prepared in connection with the
official listing of the Consideration Shares as well as additional shares to be
issued to certain investors (the “Pre-committing Investors”) in return for
their pre-committed investments in an aggregated amount of approximately NOK
32.5 million. As a consequence of the prospectus planning process and initial
integration of the two companies, further information has been prepared and can
now be provided on financial status and forecasts, the company's strategy, near
term objectives, and other matters.
We expect that revenue, interest income and other operating income in the 2009
financial year will total approximately DKK 10 million, based on our ongoing
activities, agreements already entered into, current leads for potential new
agreements and grants already made. Research and development costs are expected
to total approximately DKK 36 million, and administrative expenses are expected
to be approximately DKK 14 million excluding transaction costs related to the
combination of Pharmexa A/S and Affitech AS. The net loss, including financial
income, is expected to be approximately DKK 40 million.
