In February 2012BioGaia signed several new agreements with NestlÉ including the acquisition of the license to use BioGaia’s Lactobacillus reuteri Protectis in infant formula during the remaining term of the patent. The purchase price was EUR 50.8 million, of which EUR 40.0 million (SEK 356 million) was received and recognised in the first quarter of 2012. An additional payment of EUR 10.8 million would be received during the period of 2014-2017 if predefined milestones were achieved.
The first milestone is now achieved and BioGaia has received EUR 3.6 million, which will be accounted for in the first quarter of 2014. The balance of EUR 7.2 million will be received if the remaining milestones are achieved.
“This additional payment further strengthens BioGaia's already strong financial position” says Peter Rothschild, President of BioGaia.
Latest press releases from BioGaia 2014-02-12 BioGaia AB Year-end report 2013 2014-01-28 No significant differences in BioGaia's diabetes study 2014-01-14 It’s possible to prevent colic in healthy infants
BioGaia has published this information in accordance with the Swedish Securities Market Act. The information was issued for publication on 17 February 2014, 3:00 pm CET. For additional information please contact Peter Rothschild, Chief Executive Officer, BioGaia: 46 8 555 293 00 BioGaia is a healthcare company that develops, markets and sells probiotic products with documented health benefits. The products are primarily based on the lactic acid bacterium Lactobacillus reuteri, which has probiotic, health-enhancing effects. The class B share of the Parent Company BioGaia AB is quoted on the Mid Cap list of the NASDAQ OMX Nordic Exchange Stockholm. www.biogaia.com
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http://mb.cision.com/Main/3271/9538172/211524.pdf BioGaia Press Release 17 February 2014