On June 3, 2025 BerGenBio reported the reference is made to previous stock exchange announcements from the company ("BerGenBio" or the "Company") dated 25 February 2025 and 17 March 2025 regarding the Company’s ongoing strategic review process (Press release, BerGenBio, JUN 3, 2025, View Source [SID1234654253]).
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Strategic review process is ongoing
With reference to the announcement 17 March 2025, engaging DNB Carnegie as financial advisor for the strategic review process, the process remains ongoing. As previously communicated, the Board of Directors will, as part of this process, consider a range of options for the Company, including, among other things, a potential sale, merger, or other strategic transaction. There can be no assurance that this review will result in any transaction. The Company will announce further updates when appropriate and expects to conclude the process by the end of July.
Closedown of remaining bemcentinib activities
The Board of Directors has decided to discontinue all remaining development activities for bemcentinib as there are limited financial justification to pursue further activities.
Estimated free cash after closure of activities
The Company has implemented significant cost-containment and cash conservation measures. Free cash after closure of all activities and settlement of any potential liabilities is estimated to be in the range of NOK 40 – 45 million.
Contacts
Olav Hellebø, CEO BerGenBio ASA
[email protected]
Rune Skeie, CFO, BerGenBio ASA
[email protected]
Jan Lilleby, Investor Relations / Media Relations
[email protected]