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Bavarian Nordic gives details of share issue to J&J unit


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Bavarian Nordic gives details of share issue to J&J unit

Bavarian Nordic A/S will issue 512,102 new shares of 10 Danish kroner each to Johnson & Johnson Innovation Inc. at a subscription price of 405.1578 kroner per share, as part of a collaboration agreement.

Janssen Pharmaceuticals recently agreed to invest $33 million in Bavarian Nordic as part of a broader agreement to use its technology to develop a vaccine for hepatitis B and another for HIV-1. Johnson & Johnson Innovation will subscribe for Bavarian Nordic shares worth $33 million, amounting to about 207.5 million kroner.

The new shares will be issued upon closing of the deal between Janssen and Bavarian Nordic, which is still awaiting clearance under the Hart-Scott-Rodino Act.

Janssen Pharmaceuticals is a unit of New Jersey-based Johnson & Johnson. Johnson & Johnson Innovation is an investment arm of J&J.

As of Aug. 9, US$1 was equivalent to 6.34 Danish kroner.