Hørsholm, Denmark, 2010-12-17 09:03 CET (GLOBE NEWSWIRE) -- ALK has entered into an agreement to invest a further EUR 2 million in the French biotech company DBV Technologies (DBV) as part of the funding of the company's next development phase. Besides ALK, a number of other international investors will participate in the share issue. ALK first invested in DBV in early 2009.
The participation in the share issue is a strategic investment for ALK. This investment provides ALK with an opportunity to enter into a partnership to develop a new promising vaccine against peanut allergy. The peanut allergy vaccine, which is currently being developed by DBV, is based on an electro charged patch technology offering gradual uptake of the active vaccine ingredients through the skin. With the capital injection DBV is expected to develop the peanut allergy vaccine up to the late stage clinical development phase.
"Currently there is no effective treatment of peanut allergy, which may in some cases be fatal. The investment in DBV is part of ALK's strategy to invest in the expansion of effective and patient friendly vaccines against the most important allergies, including food allergies," says Jens Bager, President and CEO of ALK.
Peanut allergy is one of the most severe food allergies. Approximately 1% of the population or approximately 8 million people in Europe and North America are estimated to suffer from this type of allergy. Peanut allergic patients may often experience severe allergic reactions or even anaphylaxis when accidentally exposed to even small amounts of peanut allergens. Today, the patients' only alternative is therefore to rely on strict avoidance of peanuts combined with adrenaline auto-injectors for self-administration in case of an acute allergic reaction.
As part of the follow-up investment, President and CEO Jens Bager continues to be a member of DBV's Board of Directors. For accounting purposes, the investment will be recognised in ALK's balance sheet under long-term financial assets.
ALK-Abelló A/S
Jens Bager, President and CEO
For further information please contact:
Jens Bager, President and CEO, tel.+45 4574 7576
Investor Relations:Per Plotnikof, tel. +45 4574 7527, mobile +45 2261 2525
Press: Martin Barlebo, tel. +45 4574 7901, mobile +45 2064 1143
About ALK
ALK is a research-driven global pharmaceutical company focusing on allergy treatment, prevention and diagnosis. ALK is the world leader in allergy vaccination (immunotherapy). The company has 1,700 employees with subsidiaries, production facilities and distributors worldwide. ALK is also part of a strategic partnership with Merck on tablet-based allergy vaccination in North America. The company is headquartered in Hørsholm, Denmark, and is listed on NASDAQ OMX Copenhagen A/S. Read more at www.alk-abello.com.
About DBV Technologies
DBV Technologies (DBV) is a French biopharmaceutical company engaged in the development of non-invasive epicutaneous delivery technology and products. DBV Technologies is a private limited company, founded in 2002. Its strategic focus is to develop innovative products for the diagnosis and treatment of food allergy. The company's main product is Viaskin® Peanut, an epicutaneous allergy immunotherapy targeting peanut allergy. A Phase Ib trial in the USA and a pilot Phase II in France are currently in progress. Read more at www.dbv-technologies.com.