Danish biotech Gubra aims to raise DKK 500 mln in IPO

March 06, 2023 07:09 PM AEDT | By Reuters
Follow us on Google News:

COPENHAGEN, March 6 (Reuters) - Danish biotech company Gubra aims to raise 500 million Danish Crowns ($71.54 million) through an initial public offering (IPO) and list its shares on the Nasdaq Copenhagen exchange, the company said in a statement on Monday.

Certain investors, including Danske Asset Management and Danica Pension have committed to subscribe for Gubra's new shares for a total amount of 330 million crowns.

The company intends to use the net proceeds to expand its research activities, develop its drug candidates and technical solutions, as well as for acquisitions, it said.

Gubra specialises in pre-clinical contract research services and peptide-based drug discovery within metabolic and fibrotic diseases, offering research and development services to pharmaceutical and biotechnology companies on a contract basis.

Founded in 2008, the company's total revenue in 2022 amounted to 199.4 million Danish crowns, with an adjusted operating profit of 19 million. ($1 = 6.9888 Danish crowns) (Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)


Disclaimer

The above content is directly sourced from Reuters under a contractual arrangement. The content is being provided as a convenience and for informational purposes only; and does not constitute an endorsement or approval by Kalkine Media of any of the products, services, or opinions of the organization or individual. The user is apprised that Kalkine Media bears no responsibility for the accuracy, legality, or content of Reuters, any external sites, or for that of subsequent links. The user is requested to contact Reuters directly for answers to questions regarding the content. Please note that Kalkine Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.



We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK