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Home Industry News ALK invests shares in French biotech company

ALK invests shares in French biotech company

22nd January 2009

ALK has acquired shares in French group DBV Technologies, it has announced.

The business noted the agreement to invest two million euros (1.88 million pounds) in the organisation was part of a “follow-up equity financing of the company”.

As a result of the collaboration, the companies will jointly develop a vaccine against peanut allergy – based on an electro-charged patch method – which is currently being developed by the French biotech group.

Under the agreement, ALK’s president and chief executive officer Jens Bager will also join its partner’s board of directors.

The company said: “In accordance with its accounting policies, ALK will record the investment on the balance sheet under long-term financial assets.”

According to figures by the Food Allergy and Anaphylaxis Network, the amount of children who had a peanut allergy doubled between 1997 and 2002.

The statistics also reveal that of 800 youths with a milk aversion studied, 19 per cent had outgrown it by the time they reached four years old.

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