| Biora AB | |||
| Ticker: | BIORY | IDEON/Malmo | |
| Exchange: | NASDAQ-National Market | Malmo, SWEDN S-205 12 | |
| Industry: | Manufacturing (SIC Code 2834) | ||
| Type of Shares: | American Depositary Receipts | Filing Date: | 1/15/97 | |
| U.S. Shares: | 2,600,000 | Offer Date: | 2/3/97 | |
| Non-U.S. Shares: | 3,900,000 | Filing Range: | $14.50 - $16.50 | |
| Primary Shares: | 6,500,000 | Offer Price: | $16.50 | |
| Secondary Shares: | 0 | Gross Spread: | $1.15 | |
| Offering Amount: | $100,750,000 | Selling: | $0.69 | |
| Expenses: | $2,500,000 | Reallowance: | $0.10 | |
| Shares Out After: | 20,706,500 |
| Manager | Tier | Phone |
| Morgan Stanley & Co. Incorporated | Lead Manager | (212) 761-5900 |
| Alex. Brown & Sons Incorporated | Co-manager | (410) 895-2700 |
| Issuer's Law Firm: | Skadden, Arps, Slate, Meagher & Flom |
| Bank's Law Firm: | Davis, Polk & Wardwell |
| Auditor: | KPMG Accountants N.V. |
| Registrar/Transfer Agent: | Bank of New York |
| Business Description |
| The company manufactures and markets products for the treatment of periodontal disease. The company's principal product, EMDOGAIN, received approval in 1995 in Europe and was introduced on a limited basis in selected European countries in 1996. EMDOGAIN also received approval in the United States from the Food and Drug Administration in September 1996. EMDOGAIN is an innovative treatment for defects caused by periodontal disease based on findings relating to natural tooth development by the founders of Biora in conjunction with the Karolinska Institute, a renowned center for medical research in Stockholm, Sweden. Periodontal disease causes the progressive loss of the supporting soft and hard tissues surrounding the tooth. EMDOGAIN, which is applied in gel form on the tooth-root surface during periodontal flap surgery, promotes the regain of such tooth-supporting tissues and hence reattachment of the tooth. |
| Competition |
| The conventional surgical technique used in patient with advanced periodontal disease is flap surgery, without any adjunctive technique. Several clinical studies have demonstrated that flap surgery alone results in minimal regain of periodontal tissues. In Biora's controlled clinical trials, adult patients with periodontal disease who had lost most of the attachment achieved regain of jaw bone within 16 months of treatment with EMDOGAIN to about two-thirds of normal levels, as compared to unchanged levels for patients treated with conventional periodontal flap surgery. |
| Business Plan |
| The company's strategic objective is to use its proprietary technology and expertise to become a world leader in biology-based products for specialized dental therapy. The key elements of the company's strategy are as follows: 1) expand marketing and sales force; 2) develop new products based upon patented technology; 3) identify new patentable biology-based products. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for marketing and sales activities, research and product development, capital expenditures and for working capital and general corporate purposes. |