NLS Financial landscape

Combining the strengths of two companies is a way to position against competitors and also become more resilient to a fluctuating financial market.

Four months after XNK Therapeutics, located in Huddinge, Sweden, declared bankruptcy, the clinical-stage biotechnology company’s building and physical assets were sold and the lease agreement transferred to BioLamina. 

Downsizing a company is one of the most difficult decisions a chief executive can make, after which comes the equally painful decision of when to do it.

The Nordics is a small region and access to capital is limited, so many biotech companies do not have the financial strength to develop more than one product from their platform. Seeking licensing partners for the later stages of clinical development and subsequent commercialization is therefore a strategy that many SMEs adopt, and need to adopt.

At the beginning of 2024 big financial news was released from the small country of Denmark. It was announced that Novo Holdings would acquire US CDMO Catalent for USD 16.5 billion.

When InDex Pharmaceuticals announced earlier this year that it would discontinue all development of the company’s drug candidate, Flerie Invest saw an opportunity to become listed and offer new shareholders access to and liquidity in biotech companies while retaining its long-term, active investment strategy.