Algeta

Algeta ASA (ALGETA:NO) was founded in 1997 in Oslo, Norway as a private biotechnology and pharmaceutical company^[1]. The company’s research and development focus lies in the field of alpha-particle emitting radiopharmaceuticals.

Early fund raising

Algeta raised its series A financing round in 2005 with a total amount of €23 million^[2]. The financing round was led by new investors HealthCap, Advent Venture^[3] and SR One^[4].

Public offering

In March 2007, the company went public and traded in the Oslo Stock Exchange under the ticker symbol ALGETA^[5].

Xofigo^®

Algeta’s lead product Xofigo® (radium Ra 223 dichloride, radium-223, previously called Alpharadin) is a radiotherapeutic drug which is supplied as injectable sterile solution. The active ingredient alpha particle emitting isotope radium-223 mimics calcium and forms complexes with hydroxyapatite at areas where increased bone turnover takes place, such as cancer bone metastasis. The product received FDA and EMA^[6] approval in May 2013 ^[7]and November 2013^[8], respectively, to treat castration-resistant prostate cancer, symptomatic bone metastases and no known visceral metastatic disease. The FDA approval was based on a double-blind, randomized, placebo-controlled phase III clinical trial of 809 patients with castration-resistant prostate cancer and symptomatic bone metastases. The trial was designed to measure overall survival. Interim analysis revealed 14 months median overall survival in the Xofigo® group as compared to 11.2 months in the placebo group. The data were later confirmed by updated exploratory analysis showing Xofigo® improved overall survival.

Algeta Bayer deals

In September 2009, Algeta and Bayer AG anchored a development and commercialization deal for Xofigo® with the total deal size of $800 million^[9]. In December 2013, Bayer offered a full acquisition of Algeta for $2.9 billion^[10]. The deal was completed in March 2014^[11].

[1] ttp://www.bloomberg.com/quote/ALGETA:NO

[2] ttp://www.marketwired.com/press-release/algeta-asa-raises-euro-23-million-in-series-a-round-734982.htm

[3] ttp://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=18621

[4] ttp://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=22795

[5] ttp://www.drugs.com/news/algeta-initial-public-offering-5455.html

[6] ttp://www.ema.europa.eu/ema/

[7] ttp://www.fda.gov/newsevents/newsroom/pressannouncements/ucm352363.htm

[8] ttp://www.ema.europa.eu/ema/index.jsp?curl=pages/medicines/human/medicines/002653/human_med_001692.jsp&mid=WC0b01ac058001d124

[9] ttp://www.prnewswire.com/news-releases/algeta-signs-800-million-eur560m-global-agreement-with-bayer-for-development-and-commercialization-of-alpharadin-for-bone-metastases-62054552.html

[10] ttp://dealbook.nytimes.com/2013/12/19/bayer-to-acquire-drug-maker-algeta-in-2-9-billion-deal/

[11] ttp://www.press.bayer.com/baynews/baynews.nsf/id/Bayer-completes-voluntary-takeover-offer-for-Algeta

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