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    BIOT   SE0000454746

BIOTAGE AB (PUBL)

(BIOT)
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Delayed Nasdaq Stockholm  -  11:29 2022-09-23 am EDT
167.30 SEK   -2.16%
09/13Expansion in San Jose, California, signifies next step for Biotage's Biologics and Advanced Therapeutics business
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08/30Biotage joins Swedish collaboration to streamline the production of gene therapy drugs
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07/19Biotage AB (publ) Interim Report January - June 2022
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Biotage joins Swedish collaboration to streamline the production of gene therapy drugs

08/30/2022 | 04:14am EDT

Funded by academia, Vinnova and industry, a five-year multi-disciplinary collaboration has been launched with the purpose to improve efficiency in production methods for adeno-associated virus (AAV) based gene therapies. The ultimate aim is to make gene therapies more accessible to patients globally. Biotage is contributing as a collaboration partner with technology and expertise in plasmid DNA and AAV purification, as well as by funding a dedicated PhD student within the project and ecosystem.

Based on recent approvals for use by regulatory authorities, the last few years have seen a dramatic increase in the interest for developing gene therapy drugs. These promise curative treatments of serious and life-threatening diseases, like the gene therapy drugs Luxturna (against genetically determined loss of sight) and Zolgensma (against SMA, spinal muscular atrophy). However, access to gene therapy drugs is currently hampered by high costs of up to several million dollars per dose (e.g. for Zolgensma). One of the reasons for this is the complex and ineffective manufacturing processes.

To address this challenge a cross-functional team of experts from industry and academia has gathered in the GeneNova consortium innovation milieu. Under the direction of Professor Johan Rockberg at KTH, the GeneNova project aims to develop a platform for bioproduction of AAV-based gene therapies. A multitude of current limitations are to be tackled in order to achieve a highly efficient, robust and scalable manufacturing. The team represents expertise from the whole of drug development, from discovery to logistics, together with the expert providers of hardware and analytics. Everything is aligned with one overall goal – sustainable access to curative AAV treatments for more patients globally.

“We are thrilled to join the GeneNova project to develop transformative improvements of the drug development and production processes for gene therapies. Gathering leading experts within industry and academia in this unique innovation milieu and ecosystem has great potential to improve efficiency in AAV production and processing. One of the main challenges is the large-scale plasmid DNA and AAV purification steps. Here we think that we can contribute with our dual flow chromatography technology used in Biotage® PhyPrep system for automated plasmid DNA purification and PhyTip® columns for AAV and other biomolecules purification,” says Tomas Blomquist, President and CEO of Biotage.

GeneNova is supported by Sweden’s Innovation agency, Vinnova, and industry partners to the tune of just over 110 MSEK, covering 2021-2026. The collaboration partners of GeneNova are: Alfa Laval, AstraZeneca, Biotage, CombiGene, Karolinska Institute, KTH Royal Institute of Technology, Uppsala University, Vironova, and Ziccum.

© Modular Finance, source Nordic Press Releases

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Financials
Sales 2022 1 572 M 140 M 140 M
Net income 2022 256 M 22,7 M 22,7 M
Net cash 2022 196 M 17,4 M 17,4 M
P/E ratio 2022 43,2x
Yield 2022 1,23%
Capitalization 11 039 M 981 M 981 M
EV / Sales 2022 6,90x
EV / Sales 2023 6,04x
Nbr of Employees 499
Free-Float 99,4%
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Last Close Price 167,30 SEK
Average target price 249,00 SEK
Spread / Average Target 48,8%
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Managers and Directors
Tomas Blomquist President & Chief Executive Officer
Maja Nilsson Chief Financial Officer
Torben Vedel Stahl J÷rgensen Chairman
Jon-Sverre Schanche Chief Scientific Officer
Magnus Nordstedt Executive Vice President-IT & Digitalization
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