Biovotec Calls Upon Guarantees

As communicated on the 14th of September, a Guarantee Consortium of NOK 15 million has been established. Biovotec AS is now calling upon those Guarantees. This is a result of the successful preclinical studies which have been conducted and which now lay the basis for entering the next phase in the company’s development. Biovotec will now focus on both preparation and conduction of human trials which will be the basis for a CE-Mark application.

“I would once more like to thank the existing and new shareholders who have committed resources to this Guarantee Consortium. Calling upon the guarantee marks for me a new phase in the development of Biovotec AS. Now we are prepared to start the human trials by Fall next year, which will be the basis for market approval in Europe. We are moving from a pure research focused company into a company with defined products available to the market in the foreseeable future.” - Ralf Schmidt, CEO at Biovotec

The new funds of NOK 15 million obtained through the Guarantee Consortium together with the expected public funding enable Biovotec to prepare and conduct the human trials necessary for the CE-Mark approval. Biovotec will extensively work together with highly recognised contract research organizations and hospitals to perform these important human trials.

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