Artgen Biotech (MOEX: ABIO) decided not to extend the offering period established by the decision on additional issue of 17,354,549 shares and canceled the increase of their authorized capital by public offering. In this connection, the Bank of Russia decided to cancel the issue on February 18, 2025.
Earlier, in November 2023, additional issue was approved by Artgen Biotech's Board of directors for financing the elaboration and expansion of the development portfolio.
According to Sergey Masyuk, General Director of Artgen Biotech: “In our opinion, the priority source of financing the group's plans for 2024–2026 and our biotech developers within Artgen Biotech's ecosystem is our income and attraction of assets to the group's companies. Against high rates and underestimation of stock exchange assets this is currently the most attractive strategy for our shareholders, we think.”
At the end of 2023, Artgen Biotech's (MOEX: ABIO) Board of directors adopted an updated development strategy for 2024–2026, according whereto the company will shape a portfolio of 10 new drug candidates for treatment of genetic, age-related, infectious and oncological diseases, as well as the production facilities for the companies of the group and external developers were also established. These objective complemented those previously approved and aimed at the growth of 2024–2026 financial indicators: development of registered products and products at advanced stages of elaboration, which are close to the obtainment of registration certificates.
Artgen Biotech is a biotechnological company, which possesses a portfolio of innovative platform-based R&D products and introduces them into healthcare. Artgen Biotech Group is composed of companies of various development stages — from the seed stage to the stage of early growth and maturity as well as companies establishing an ecosystem for biotech development acceleration within the group.