Human and veterinary oncologist Oasmia files for a €23M IPO on the American NASDAQ. The Swedish company, anticipating an increase in the oncology field, seeks to increase its visibility and to establish itself in the US.
The papers have been sent, Oasmia Pharmaceutical will go to NASDAQ under the symbol OAX. The Swedish company was already listed on Stockholm’s NASDAQ, as well as on Germany’s Frankfurt Stock Exchange. The company now hopes to raise €23M in its Initial Public Offering on the American stock market.
The Swedish company develops cytostatics for human and veterinary uses which, according to Oasmia and in comparison with current alternatives, show improved properties, a reduced side-effect profile and an expanded therapeutic area. The company is advanced in both the human and animal health fields, with one candidate in each area already approved and with a late-stage pipeline.
Oasmia, awaiting for a significant expansion of cancer treatments, is looking positively towards the future. Following a year, in which worldwide spendings on cancer drugs exceeded €90Bn, a 10% increase compared to 2013, Oasmia now wants to establish a US-based sales platform for its products. Besides, Abraxane, a treatment similar to Oasmia’s patented product Paclical, was acquired for €2.6Bn by Celgene in 2010, leading the Swedish company to have faith in its product.
Furthermore, the animal health industry has continued to grow over the past decade, amounting to nearly €23Bn in 2014. Moreover, the market for veterinary oncology is proving to be very profitable too. One dog out of 4 on average will develop a tumor during its lifetime and as years go by, owners pay more and more interest to treating their companions.
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