Norwegian pharmaceutical company Ultimovacs said it aimed to raise NOK700m ($8.7m) through an IPO next year to back its immunotherapy cancer drug. The company, which is based in Oslo, has been developing the drug for more than a decade, and says that since launching it on the market last year, sales have increased by about 50 percent. OSLO (Reuters) - Ultimovacs has hired DNB Markets and ABG Sundal Collier as brokers for the IPO and said while it forecast revenue from UV1 by 2022, earlier income was expected from licensing deals with other companies.
Norwegian pharmaceutical company Ultimovacs said it aimed to raise NOK700m ($8.7m) through an IPO next year to back its immunotherapy cancer drug. The company, which is based in Oslo, has been developing the drug for more than a decade, and says that since launching it on the market last year, sales have increased by about 50 percent. Ultimovacs has hired DNB Markets and ABG Sundal Collier as brokers for the IPO and said while it forecast revenue from UV1 by 2022, earlier income was expected from licensing deals with other companies.