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Biotage AB has formed a Nomination Committee ahead of its Annual General Meeting on April 28, 2022. This committee includes members appointed by the company's largest shareholders, tasked with preparing proposals for the board's election and auditor selection. The committee comprises Joachim Spetz from Swedbank Robur Fonder, Hans Christian Bratterud from ODIN Fonder, Christoffer Geijer from SEB Investment Management, and Torben Jørgensen, the Chairman. Shareholders can submit proposals by email, with a deadline of seven weeks prior to the meeting.
On October 20, 2021, Biotage announced the acquisition of ATDBio for approximately 45 MGBP (534.4 MSEK). This acquisition aims to enhance Biotage's capabilities in DNA and RNA oligonucleotide synthesis and purification, crucial for drug discovery and molecular diagnostics. The deal is financed through a mix of newly issued shares and cash. ATDBio, founded by Tom Brown Sr. in 2004, generated 3.5 MGBP in sales in 2020 and shows potential for growth in the expanding nucleic acid sector, driven by increased demand amidst the pandemic.
Biotage has expanded its production capacity for large-scale flash columns by 300% to support the purification of lipids used in mRNA vaccine development. The new facility in Cardiff, UK allows the company to assist pharmaceutical firms in scaling up lipid production for COVID-19 vaccines. The expansion was completed in just over four months, addressing a key bottleneck in the supply of lipids necessary for LNP formulations. Biotage aims to enhance its market presence while maintaining service to existing clients in various sectors.
Biotage reported record quarterly net sales for Q2 2021, amounting to SEK 303.5 million, a 19.4% increase from the previous year. The company achieved an organic growth of 32.1%, with an operating profit of SEK 62.5 million and an operating margin of 20.6%. Profit after tax reached SEK 46.0 million, demonstrating strong financial performance.
Biotage also appointed Maja Nilsson as the new CFO, effective October 1, 2021, after the resignation of Annette Colin. The company continues to focus on expanding its capacity and innovative solutions in pharmaceuticals.
Biotage AB has appointed Maja Nilsson as the new CFO, effective October 1, 2021. Maja brings extensive experience from her roles in Getinge, where she served as CFO and Executive VP. Her background includes management positions in finance, consulting, and business control. CEO Tomas Blomquist expressed confidence that Maja's expertise will enhance Biotage's growth. Biotage, headquartered in Uppsala, focuses on providing innovative solutions in drug discovery and analytical testing, aiming for sustainability in various industries.
Biotage announced on June 29, 2021, that Berenberg Bank will begin coverage of the company through its Equity Research – Med Tech & Healthcare Services team. This development highlights Biotage's ongoing commitment to addressing societal challenges with innovative solutions across drug discovery, analytical testing, and environmental sustainability. With 2020 sales of 1,092 MSEK and a workforce of approximately 485 employees, Biotage operates globally, offering products in over 70 countries, and is listed on NASDAQ Stockholm under the ticker BIOT.
Biotage has launched the Biotage® PhyPrep, an automated platform for plasmid DNA purification. This innovation aims to enhance laboratory efficiency by minimizing manual errors and improving yield consistency. The system empowers biopharma labs to handle plasmid purification in-house, which can lower costs and improve project deliverability. Operating at Maxi, Mega, and Giga scales, it processes plasmid yields from 1 mg to 10 mg. CEO Tomas Blomquist emphasized that this launch aligns with Biotage's mission to support the discovery of new therapies.
Biotage announced that CFO Annette Colin has notified the company of her departure, effective after a six-month notice period. The organization will begin the search for her successor. Biotage is recognized for its contributions to drug discovery, development, and environmental testing, aiming for a sustainable future with its services and products. In 2020, the company reported sales of 1,092 MSEK and operates globally in over 70 countries. The share is listed in the Mid Cap segment on NASDAQ Stockholm.
On April 28, 2021, Biotage held its Annual General Meeting (AGM) via advance voting due to the Covid-19 pandemic. Key resolutions included a dividend of SEK 1.50 per share, with payment expected on May 5, 2021. The Board of Directors received discharge from liability for the 2020 financial year. Changes made included the approval of an LTIP 2021 incentive program, allowing a maximum issue of 196,171 shares, and authorization for share issuance which could result in approximately 0.37% dilution. The meeting also confirmed the appointment of Öhrlings PricewaterhouseCoopers as auditors until the 2022 AGM.
Biotage reports strong growth with net sales of 281.4 MSEK, up 1.4% YoY, while organic growth surged by 12%. The operating profit of 79.4 MSEK reflects a margin of 28.2%, a record high. Despite a slight dip in net profit to 60.0 MSEK, cash flow from operations increased, enhancing the net cash position to 189.6 MSEK. The Scale-up product area saw a remarkable 16.4% growth, driven by collaborations in vaccine development. However, the Analytical chemistry segment declined by 11.4% due to pandemic impacts.
