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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Nanexa AB    NANEXA   SE0007074166

NANEXA AB

(NANEXA)
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Nanexa : in late stage partnering and investment negotiations with Applied Materials and Applied Ventures

11/27/2020 | 09:06am EST

Nanexa AB (publ) today announces that the company is in late stage negotiations about entering into a joint development agreement with the world leading materials engineering solutions company Applied Materials Inc. in order to scale up Nanexa's production of ALD-coated injectable drugs.

In parallell, Nanexa is also in late stage negotiations with Applied Ventures, the venture capital arm of Applied Materials, about entering into an investment agreement. Through a directed share issue Applied Ventures intends to invest USD 1 million during the fourth quarter 2020 with an option to invest up to an additional USD 2 million in 2021, to support continued development and expansion.

Nanexa has not yet entered into legally binding agreements with Applied Materials and Applied Ventures. Nanexa expects to finalize the agreements within the coming weeks and will provide more information when the respective agreements are finalized.

By entering into a joint development agreement with Applied Materials, a global leader in materials engineering solutions, Nanexa aims to secure drug manufacturing capabilities for larger clinical trials to validate, adapt and scale up Nanexa’s production of ALD-coated injectable drugs. According to the proposed agreement Applied Materials will provide and cover the costs for the equipment that will be installed at Nanexa's GMP-classified premises in Uppsala. The suggested collaboration agreement also includes future commercial arrangements, including mutual cost, revenue sharing principles and licences.

According to the intended agreement, Applied Ventures will invest up to USD 3 million in Nanexa during 2020-2021. USD 1 million is to be invested during the fourth quarter 2020 with an option to invest an additional USD 2 million in two tranches during 2021. According to the suggested agreement Nanexa will undertake to issue new shares and share warrants in a directed issue to Applied Ventures, with support of the authorization of the Annual General Meeting held on June 2, 2020.

The reason for the announcement of these negotions before finalization is a data breach at Nanexa which has been reported to the relevant authorities. The e-mail account of a member of Nanexa’s senior management team was hacked and the information above can no longer be regarded confidential.
 

© Modular Finance, source Nordic Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
APPLIED MATERIALS, INC. -2.51% 103.14 Delayed Quote.19.51%
NANEXA AB -1.67% 11.8 End-of-day quote.-0.42%
All news about NANEXA AB
01/13NANEXA : chooses lenalidomide for the project NEX-20
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01/12NANEXA : completes the first part of the directed share issue to Applied Venture..
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2020NANEXA : signs Collaboration Agreement with Applied Materials, Inc.
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2020NANEXA : enters into an investment agreement with Applied Ventures of USD 3 mill..
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2020NANEXA : receives clinical trial approval for NEX-18
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2020NANEXA : in late stage partnering and investment negotiations with Applied Mater..
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Financials
Sales 2019 8,73 M 1,04 M 1,04 M
Net income 2019 -13,0 M -1,54 M -1,54 M
Net cash 2019 6,22 M 0,74 M 0,74 M
P/E ratio 2019 -11,9x
Yield 2019 -
Capitalization 259 M 30,8 M 30,8 M
EV / Sales 2018 21,1x
EV / Sales 2019 17,4x
Nbr of Employees 11
Free-Float 74,4%
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Last Close Price 11,80 
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Managers and Directors
NameTitle
David Westberg Chief Executive Officer
Göran Albert Torstensson Ando Chairman
Björn Wilhelm Svanström Chief Financial Officer
Magnus Westgren Independent Director
Mårten Rooth Director, Head-R&D Atomic Layer Deposition
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