To NASDAQ OMX Copenhagen A/S Investor News no. 04-14 / Copenhagen, April 29, 2014
Topotarget has received the following announcement from its major shareholder the HealthCap funds:
The venture capital fund HealthCap IV is committed to vote in support of the proposed merger between the Danish biotech company Topotarget A/S (NASDAQ OMX: TOPO) and the French oncology company BioAlliance Pharma SA (Euronext Paris: BIO), which was announced on April 16, 2014.
On April 28, 2014, a notice was sent to Topotarget stating that the combined holdings of Topotarget shares for all relevant HealthCap entities (HealthCap III and HealthCap IV) have been reduced below 10.0%. HealthCap IV holds 8.7% of all outstanding shares in Topotarget A/S. At its inception HealthCap III was established with a pre-determined 10-year life and it is now in its final stage of liquidation. The reduction in HealthCap’s combined holdings of shares in Topotarget was solely the result of HealthCap III reducing its holding.
“HealthCap fully supports the merger of the two companies, which will create a leading orphan oncology company. It is a structural deal based on sound industrial motives. The combined company will gain the critical mass needed to have a real impact in the development and sales of treatments for patients in need”, commented Dr. Björn Odlander, Founding Partner of HealthCap.
For further information, please contact:
Per Samuelsson, Partner, HealthCap – direct: +46 8 442 5861 Anders Vadsholt, CEO, Topotarget – direct: +45 39178345
Background information
About HealthCap HealthCap is an independent venture capital firm exclusively dedicated to life science investments. Its focus is on breakthrough therapies that address unmet medical needs and aim to bring significant value to all stakeholders including patients and society by changing medical practice. The firm has made close to 100 investments, including 30 start-ups, and made more than 50 exits. Since its inception in 1996, HealthCap has raised more than EUR 900 million from long-term international investors, making it one of the largest specialized providers of venture capital to launch and build transforming companies that make a difference. www.healthcap.se
About Topotarget Topotarget (NASDAQ OMX: TOPO) is a Scandinavian-based biopharmaceutical company headquartered in Copenhagen, Denmark, dedicated to the clinical development and registration of oncology products. In collaboration with Spectrum Pharmaceuticals, Inc., Topotarget focuses on the development of its lead drug candidate, belinostat, which has shown positive results in the treatment of hematological malignancies and solid tumors, obtained by both mono- and combination therapy. For more information, please refer to www.topotarget.com.
Topotarget Safe Harbor Statement This announcement may contain forward-looking statements, including statements about Topotarget A/S’ expectations to the progression of Topotarget A/S’ clinical pipeline and with respect to cash burn guidance. Such statements are subject to risks and uncertainties of which many are outside the control of Topotarget A/S, and which could cause actual results to differ materially from those described. Topotarget A/S disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by Danish law.
