Annual Report 2008
2 2008
Business events in 2008 ... 4
Genovis in brief ... 5
Goals and strategy ... 5
Interview with the CEO ...6
Genovis’ nanotechnology products ... 9
Market ... 11
Employees ... 13
We are employed by Genovis ... 14
The share ... 16
Board of Directors ... 18
Group management and auditor ... 20
Corporate governance report ... 21
Formal Annual Report Administration Report ... 25
Financial statement ... 31
Notes ... 36
Audit Report ... 52
Financial calendar
Annual General Meeting ... June 2, 2009 Interim report ... August 20, 2009 Interim report, September ... October 8, 2009
Annual Report 2008
2008 3
Genovis’ business concept is to develop, produce and market innovative tech- nologies based on unique nanostructures that can facilitate, enable and accelerate new discoveries in the hands of researcher within the global Life Science industry.
Genovis’ Business Concept
Business Events in 2008
Feb. 7 Genovis decides to carry out a new share issue to expand marketing and sales channels. The proceeds of the share issue will be used to build sales channels in Europe, North America and key Asian markets, as well as to finance marketing and product launches in 2008.
Feb. 26 Genovis launches new product - NIMT®FabRICATOR kit, which cleaves and isolates pure Fab fragments in 30 minutes. The launch of the new Genovis product provides a new method that is both better and faster than any other method available on the market today.
March 6 Genovis enters into distribution agreement with Nordic Biolabs for the Swedish and Danish market.
March 11 Genovis enters into distribution agreement with DI Biotech for the Korean market.
May 29 Genovis carries out conversion to one class of shares and issues 187,000 warrants for subscription by the CEO and other employees on equal terms.
May 30 Genovis enters into distribution agreement with Stratech Scientific Ltd. for the English and Irish market.
June 23 Genovis enters into collaboration with Japanese company Magnabeat Inc.
June 30 Genovis enters into distribution agreement with Spanish Teknokroma for the Spanish and Portuguese market.
Sept. 29 Genovis enters into distribution agreement with Dutch Biolegio for the Dutch and German market.
Oct. 14 Genovis launches two new Antibody Engineering products: IgGZERO™ and FcDOCKER™. The launch provides the market with two novel methods to facilitate production, analysis and modification of antibodies. With the two novel products Genovis strengthens and expands its product portfolio within Antibody Engineering, a rapidly growing market.
Oct. 21 Genovis enters into distribution agreement with Innovative Biotech Pte Ltd in Singapore.
Nov. 14 Genovis was granted a position for an industry-based doctoral student by the Swedish Research Council, which means one more person dedicated to working with animal model studies in which Genovis nanostructures serve as contrast media. The project is a collaborative effort with the Department of Radio physics at Lund University Hospital.
Nov. 21 Genovis Board resolves to carry out a new share issue to execute the plan for the Company’s business development and to further develop the intangible value with medical imaging and delivery.
Business Events in 2008
Genovis in Brief
The Group consists of Genovis AB and the subsidiary Genovis Inc. in the United States.
Genovis designs and produces nanostructures for researchers in pharmaceutical companies, biotech companies and the academic research community.
Genovis is represented by distributors in thirteen countries on three continents.
Genovis has a collaboration agreement with the Japanese company Magnabeat Inc. for evaluation of potential new product concepts. In research and develop- ment, Genovis is working on two in vivo/imaging projects in cooperation with Lund University.
Genovis has been listed on First North, part of the Nordic Exchange OMX, since 2006.
At the end of 2008 Genovis had 10 employees.
Genovis’ net sales for 2008 totalled SEK thousands 380.
Goals and Strategy
Overarching goals
Offer a new delivery system for biopharmaceuticals with minimal adverse effects using Genovis’ magnetic nanostructures based on NIMT® technology.
Launch Genovis’ magnetic nanostructures as multifunctional contrast media for medical imaging, including for combinations of MRI, CT, SCAN, SPECT, fluorescence and ultrasound.
2009 Goals
• Convert experience in delivering siRNA to cells in a laboratory environment to delivering siRNA in vivo.
• Introduce specially designed nanostructures according to a custom-made model.
• Increase sales on those markets that currently have distributors.
• Generate the first revenues through OEM agreements or licensing agreements for one or more product families. During Q4 2008 Genovis began working on selling the protein portfolio and expects the process to be completed during the second quarter of 2009.
Strategy
• Genovis will constantly strive to achieve a more efficient internal organization, which when combined with partners, distribution chains and a global network, will enable it to flexibly achieve its goals for 2009.
• Genovis will maintain a strong and innovative product development program focused on products that strengthen the customer’s business model.
Genovis in Brief
Interview with the CEO
What is Genovis’ core business?
Genovis’ core business can briefly be described as the design and production of nanostructures that can be used as research tools, contrast media and for drug delivery.
What makes Genovis unique?
We are unique in many ways, though most of all for our design and production of nanostructures that can be used for various Life Science applications. We can offer structures that are stable in all biological fluids, which over the past eight years have been developed so they are neither toxic nor do they disrupt the life cycle of living cells. Our value proposition is therefore well tested compared with that of other nano particle producers. In addition, we have built the contrast media function and the delivery function into a single basic structure that is less than 50 nanometres in size, which provides a unique opportunity to follow a pharmaceutical substance by MRI to ensure that the right quantity of medication reaches the right site. This process makes it possible to monitor and regulate drug dosage with the best effect for the patient. In addition to the actual nanostructures, we can also offer our customers all the knowledge we’ve accumulated over the years.
Can you describe the design and production process?
In principle, nanomaterials can be produced in two ways. In miniaturization (top-down), a large material is broken down into smaller fragments until only nanometer-sized component pieces remain. In the reverse process (bottom-up), a new material is built up, one atom or molecule at a time, using chemical, electrical or physical forces.
Genovis uses the bottom-up approach: first we build a core of iron oxide of about 10 nanometres, to which other molecules are added, layer by layer, until a final size of 25 to 120 nanometres. This method of producing nanostructures is challeng- ing, in part because the properties of the material differ from how the same material behaves in our natural environment, and in part because what we produce is so small. One major advantage of producing nanostructures is that large production volumes of the end product fit into relatively small production facilities, which means that Genovis can cover the world’s total need for nanostructures without moving to premises larger than our current laboratories.
Who uses Genovis’ nanostructures?
Genovis’ nanostructures are used by researchers at pharmaceutical companies, biotech companies, and in the academic research community. Customers use Nanostructures as tools for various purposes; for example, they may study biological molecules such as new genes (DNA molecules) and RNA molecules, or develop new cancer drugs using stem cells. Genovis’
nanostructures also work well as contrast media and customers are already using the particles to track stem cells by MRI.
We intend to develop this business area more in 2009. Today Genovis is working on two in vivo/imaging projects in cooperation with Lund University. One project involves development of nanostructures for use in diagnostics (medical imaging) of extremely small tumours that can rapidly occur in lymph glands among patients with breast cancer. The project recently received funds from the Swedish Research Council to finance an industrial doctoral student for four years. The other project involves nanoparticles as carriers of small molecules to cells in the brain.
Genovis acquired patent rights to a group of proteins in 2007 – what happened with this project in 2008?
Even when we acquired the proteins, we intended to build up an attractive protein portfolio in order to sell it or for out- licensing. In 2008 we developed three unique products in our protein portfolio. FabRICATOR® Kit cleaves and isolates pure Fab fragments in 30 minutes with perfect final results – unlike current methods, which can take as much as twenty-four hours to achieve the same results. IgGZERO™ is a unique protein that can wash away antibody molecules from primary
Interview with the CEO
cells and specifically cleave the sugar molecules that naturally exist on antibodies.
FcDOCKER™ binds specifically to the antibody. This protein is very useful in the antibody production process. Both FcDOCKER™ and IgGZERO™ were discovered by a research group at Lund University and in 2008 we had the opportunity, together with the researchers, to apply for patent protection and commercialize the results.
In 2008 we introduced the products at scientific conferences and received a favourable response from both the pharmaceutical industry and academia. The market launch was a step in the process to be able to present an attractive customer base. The protein portfolio is now ready to be sold. Introductory negotiations are underway with several parties that have shown great interest and the sales process initiated in 2008 is expected to be complete during the Q2 2009.
What will happen in 2009?
Obviously the overall objective is for Genovis to improve its business model to achieve a substantial increase in sales.
With respect to products in the pipeline, our objective in 2009 is to convert our collective experience from delivering siRNA to cells in a laboratory environment to delivering siRNA in vivo, such as for delivery of our nanostructures. By doing so we will pave the way for a new business area. This project will probably mainly be an R&D project in 2009. The RNAi market, including siRNA, is a relatively immature market, which in 2006 amounted to about USD 447 million worldwide with an annual growth rate of about 19%. Intensive research is also underway involving the use of RNAi as a medication; this mar- ket is expected to reach USD 580 million in the United States in 2012.
We will also focus on the contrast media business area and have the goal of generating the first revenues for these products during the year. Customers will have the opportunity to order specially designed nanostructures based on a custom-made model, where we offer a unique service rather than selling a final product from a standard assortment to different customers.
What has been your greatest challenge during the year?
It has been frustrating that the sales pace has not picked up as quickly as I’d hoped. Building relationships with customers and distributors under a new and completely unknown brand was tougher than I had expected. We have to learn from our experience; Genovis has to develop an effective business model appropriate for the products and customers, even if it feels like we’re going against wind in the middle of the current financial crisis. Another constant challenge is to ensure that we can finance high-priority projects in the pipeline, which is crucial for innovative companies under development. I see Genovis as a company that is now beginning to generate revenues, though it is still a development company; in some ways, it’s like being caught between two worlds. This is a challenge which I hope we can turn to our advantage in the near term by generating revenues both from end customers and from new research-driven assignments.
What are you most proud of with respect to developments at Genovis in 2008?
There is much to be proud of. The first images that come to mind as I look back at the year are the meetings with customers
and researchers all over the world who use our products. And the fact that our shareholders helped out by making sure that
Genovis could finance the most important projects was extremely important. Another event, which I believe will be crucial
to Genovis in the future, was the realization that we had developed a nano particle which could meet the demands placed
on contrast media. And none of this would have happened without my fabulous colleagues, who continuously grow in their
roles, creatively solving one challenge after the other; I am actually extremely proud of these Genovis employees.
Computed tomography (CT): Also known as computer aided tomogra- phy (CAT), uses ordinary x-rays. Bone tissue is clearly visualized, while soft tissues are more difficult to see.
Magnetic resonance imaging (MRI) or magnetic resonance tomography: Uses radio waves to induce resonance in magnetic molecules (like small rotating gyroscopes) in a strong magnetic field. By making the magnetic fields nonhomogeneous, the resonance frequency varies in different places in the body, which is the basis of the imaging process.
Single-photon-emission tomography (SPECT): Uses x-rays and is very similar to traditional x-ray technology, but is capable of delivering a three-dimensional image.
Positron emission tomography (PET): Measures the distribution of a radioactive substance within an organ after the substance (e.g., radioactive water) has first been injected into an artery.
Ultrasound: Sound with a wavelength less than 17 millimeters; in other words, a frequency greater than 20 kHz. Ultrasound is a frequently used diagnostic technique in medicine, for example in pregnant women and for examinations of the heart and vessels.
Imaging Technologies
9
NIMT ® F eOlab el NIMT ® FeOfection
Genovis’ Nanotechnology Products
Genovis’ Nanotechnology Products
• Nanoparticles (NIMT
®) for:
Medical imaging (early experiments), FeOdot and FeOlabel.
Transfection (nanostructures that may be used as small carriers in order to deliver different molecules to cells) FeOfection|
YELLOWand FeOfection|
PURPLE.
• Proteins for:
Antibody fragmentation and antibody modification. The Company’ intends to sell or out-license the protein portfolio in 2009.
All products are marketed by distributors and by the Company under its own management. The competitors mainly comprise producers of nanoparticles for life science products.
Nanotechnology may contribute to major advances in two medical disciplines
• diagnostics (imaging): for example through improvements in contrast media.
• treatment (delivery): primarily through the creation of carriers able to deliver the drug directly to the site in the body where it is needed.
Diagnostics - Treatment
Medical imaging is in many cases essential to make a diagnosis and provide treat- ment. Not many medical discoveries have had as great an impact on humankind as the x-ray. This fact was acknowledged by the Nobel Foundation, which in 1901 awarded the first Nobel Prize in medicine to Conrad Röntgen. Today tech- nologies such as computed tomography have largely assumed the role previously held by traditional radiography; ultrasound and magnetic resonance imaging can also be used to examine different parts of the body. Genovis’ nanostructures can be used as contrast media. Contrast is a substance introduced into a body prior to examination by medical imaging, so that a specific part of the body or a specific organ will be seen more prominently.
On the treatment front, drug delivery and targeting therapy can be mentioned.
Genovis’ nanostructures offer a unique advantage when dealing with siRNA- based drugs, allowing the doctor to follow the injected substance using technology such as MRI to ensure that the right dose reaches the right place and to allow follow-up of the patient and possible dose adjustment. Genovis constantly strives for improvement in this field and has chosen to dedicate further resources to nanostructures to achieve a better effect, while avoiding damage to the often highly sensitive target cells.
Both diagnosis and treatment using nanostructures are under development and
together comprise to a business area now known as nanobiomedicine. To date
10
NI MT ® F eOlab el NIMT ® FeOfection
Genovis’ Nanotechnology Products
cancer research has played the dominant role in the field of nanobiomedicine.
One reason that cancer research has achieved such significant advances is the pronounced difference between cancer cells and healthy cells, which makes them easy to identify and appropriate for targeted treatment. Imagine a future where malignant tumours can be successfully treated long before they cause harm and without injury to other parts of the body. This is the ultimate goal: to design nanoparticles that can be injected into the body like small target-seeking robots, while carrying drugs capable of killing specific cells such as those transforming into cancer cells.
Using nanotechnology, researchers have been able to locate human malignant tumours introduced into mice, before the tumours were large enough to be visible on MRI. Since early detection greatly improves treatment effectiveness, this finding may be extremely important, especially in the case of malignant melanoma, which begins as a curable change in cells and subsequently develops into an aggressive and fatal disease. For now the new nanotechniques are in early phase and are being tested in various animal models, though several will soon be tested in humans. In recent times researchers have also made significant progress in other areas of research, using nanoscience as one of their most important tools.
Genovis is currently working on two in vivo/imaging projects in cooperation with Lund University. One project involves development of nanostructures for use in diagnostics (medical imaging) of extremely small tumours that can rapidly occur in lymph glands among patients with breast cancer. The other project involves nanoparticles as carriers of small molecules to cells in the brain. Several projects are in start-up phase and Genovis plans to use data from these projects to begin marketing the new particles for animal model studies in 2009.
Nanotechnology Imaging Physical Exam, Symtoms
Market
120 100
Value (US$ millions)
80 60 40 20
2006 2007 2008 2009 2010 2011 2012
Year
CONGLOMERATE FOOD AEROSPACE & DEFENCE PHARMACEUTICALS
& HEALTHCARE
AUTOMOTIVE CHEMICALS
Nanotechnology opens up new areas for health care and hopes are running high for the potential of this technology to achieve improved health. Expectations that nano- science and nanotechnology will create new applications and innovations are a major driving force behind demand for the products that Genovis develops and markets.
Research reports show that the use of nanotechnology in drug development and health care will increase markedly over the next five-year period
1.The three key areas where the technology is expected to have the greatest impact are delivery, diagnostics and monitoring/imaging
2.
The nanostructures of Genovis have applications in numerous technology areas and a comprehensive assessment of the market potential means assessing a variety of markets. There are in principle three well-defined markets of primary interest to the company.
• Genovis has already commenced to address the market for transfection tech- niques/reagents, for which the current turnover of products is estimated at USD 500 million. Genovis offers products with the potential to compete one of three segments of this market, representing 40% of the total market.
• The Medical Imaging market can be divided into three segments. Genovis will first hand address the preclinical market segment in the period 2009-2011, which is a segment estimated to reach USD 300 million in 2011 which of contrast media will make up USD 120 million. In 2008 Genovis started the introduction of its first products in this area and during 2009 a number of products will be launched. The introduction of novel nano structures as con- tract agents opens up new avenues in a market which is forecast to grow ap- prox. 30% in the 5-10 years to come.
• The third market Genovis has decided to address is the therapeutic use of RNA interference. This product group is currently under development and is part of the Genovis R&D portfolio and a logical further development of existing products. The market for therapeutic use of siRNA is early stage, and some 20 projects have entered the clinical phase. Small biologic molecules such as siR- NA molecules require completely new methods for drug formulation. For this product group Genovis has the aim to provide nano structures in which are combined the advantages of imaging and novel drug formulation. The nano structures will deliver the therapeutic agent to its predefined target in the body, while the physician is able to follow dose distribution and therapeutic effect using various imaging methods. The therapeutic siRNA market is relatively immature and the very first products are expected to be launched next year.
Already by 2015 this market is estimated to reach the USD 1 billion level, and Genovis estimates that the drug delivery share of this market is between 10 and 20 per cent.
Sources: Business Insight, Frost &Sullivan och Strategic Directions International 2006
Market
1. Nanotechnology, 2007 Business Insights 2. (Salamance-Buentello F, Persad, Dl, Court
EB et al, (2005) Nanotechnology and the
developing world. PLoS Med 2 (5): e97)
Development of the nanotechnology market
Employees
Employees
The knowledge base represented in Genovis is highly competitive and all employees are provided the opportunity for continuing education; 20 percent of employees have PhDs. Gender equality is integral to our daily operations and the Company also strives to facilitate the integration of career with parental responsibilities and to offer both men and women the same opportunities for parental leave.
On December 31, 2008, the Group had ten employees, including ten at the Parent Company and no employees in the United States, compared with eleven people at the Parent Company and one in the United States during the same period last year. The Chairman of the Board of Genovis Inc. is paid a consulting fee when working on projects.
Occupational health and safety
Research places high demands on the work environment and safety is therefore of the utmost importance for laboratory operations. Occupational health and safety are integrated into the daily routine. A risk assessment is conducted prior to laboratory projects and procedures are in place for high-risk work. The Company continuously strives to reduce environmental risks. In addition the Company carries out safety rounds, as well as regular inspections of the ventilation system, safety ventilation and other technical equipment. Occupational health and safety policies at Genovis comply with the requirements of the Swedish Work Environ- ment Act to achieve a good workplace environment. A good work environment provides job satisfaction while stimulating efficiency and continuous growth, and should be viewed by employees as being natural, on a par with other workplace issues. All activities should be geared to promoting health.
Fitness and health
All employees have access to a doctor, nurse and physical therapist and are offered physical examinations every other year. The Company provides lunch and snack facilities in a common area.
The Company complies with all recommendations of The National Swedish Tax Board with respect to taxable benefits.
Warrant Program
The Company issued 187,000 warrants for subscription by the CEO and other employees on equal terms. The warrants may be exercised for subscription of shares between February 28, 2012 and May 31, 2012. When all warrants are fully exercised the company’s share capital will increase by a total of SEK 74,800 through the issue of 187,000 shares, each with a par value of SEK 0.40. If the warrants are fully exercised the new shares will constitute 1.7% of capital and votes.
Age distribution
0 1 2 3 4
40-50 50-65
30-40 -30
Men Women 0 2 4 6 8 10
2006 2007 2008
2005 2004
Sweden USA
Average number of employees
What Genovis Employees Think
“My business card says ‘product specialist,’ but sometimes I get to do other things, too.”
I started by doing my degree project at Genovis in the spring of 2004. After that I was lucky enough to stay on, and I’m really happy about that. During the degree project and afterwards I spent much of my time working on producing and modifying the nanoparticles on which Genovis is based. After a while the work shifted more toward cells and experi- ments on cells with our particles. That’s been my primary duty most of my time at Genovis. But Genovis is a small company and that means you get to wear many different hats. Now my duties include receiving orders, taking care of customer and distributor questions, packing products, sending products, updating the website, ensuring that protocols and other documents for customers are updated. I’m project manager for one in vivo project and I also work on product develop- ment.
Sylvia Koivunen, Product specialist
“At Genovis you have to be flexible and step in where extra resources are needed, which means trying new things and facing new challenges.”
Working at a small company like Genovis is both fun and stimulating. It’s been particularly exciting to be part of the process when a small R&D company redirects its focus to become a sales company with its own products and production. You gain insight into all aspects of the company, from running the company, finding financial backers and increasing sales to research & development in the lab.
Of course daily tasks involve plenty of lab work, with all that this entails, such as re- search, planning and evaluation of results and documentation. I test our particles for transfection, especially siRNA delivery. The body consists of a host of different types of cells depending on tissue, organ, etc. Different cells have differing affinities for uptake of foreign matter; we say that they are easy or difficult to transfect. In the cell lab we test our particles on many different cell lines and formulate protocols to achieve the highest pos- sible transfection efficiency.
Dr. Malin Mejàre, Research coordinator
We are employed by Genovis
“I truly believe that nothing is more fun than working on opti- mizing our products; it makes all the years I spent in the class- room and my student loans worthwhile.”
My job involves optimizing our products and answering questions, like how quickly something happens, how long the effect can be noted, or does doing one thing or an- other make things better or worse. This means that I test the new product and compare it with the equivalent product that we currently have on the market, so that we can con- sistently maintain the same high level of quality for the products we sell.
It is essential to keep track of how many cells we have and what experiments are planned over the next few weeks so materials are always available for our work. Currently we work with seven different types of cells (cell lines). I mainly work with research and develop- ment of Genovis products for transfection of DNA and siRNA and I’m responsible for functional testing of products when new batches are made.
Pontus Kjellman, Product specialist and research assistant
“Working at Genovis is fun and stimulating.”
I’ve worked at Genovis since 2001 and over the years I’ve had a variety of duties. For the past six months I’ve been working with production and production development of Genovis’
particles and I’m responsible for QA of the particle prod- ucts. I’m also involved in developing new products. Being involved and transforming an idea into a product is ex- tremely satisfying. Having worked at the company for so many years and being part of the process of driving it forward is also rewarding.
Hanna-Karin Toftevall, Product specialist
“For the next few years I see my primary task as identifying new business opportunities and creat- ing the alliances we need to be able to develop and make money on new products”
I have been employed by large, medium and small enterprises in the medical industry, and it is definitely most stimulating to work in a small company. We are 10 employees at Genovis, and I feel that how to manage the lack of both time and resources is a fine art - that’s the charm of a small company. You could also say that each and every one of the 10 of us is needed.
Our products have high technology content; this is what we learn from our customers.
It’s also a fact that the home market for our products is very small. We could never sur- vive by only selling in Sweden; right from the start we have to sell in the larger European countries, the United States and Japan in order to achieve volume and, most important, references to provide us with additional customers. This means that my job, establishing distribution channels on selected markets, is a top priority.
Karl Branzén, Business Development Manager
What Genovis Employees Think
The Share
The Share
Capital stock development
Transaction
Increase in capital stock
Increase in Class A shares
Increase in Class B shares Increase in shares
Total number of shares
Capital stock SEK
Share’s par value, SEK Issue price Year
Capital stock in Genovis AB (publ) on December 31, 2008, was SEK 4,354,493.20 made up of a total of 10,886,233 shares, with a par value of SEK 0.40. All shares carry equal rights to a part of the company’s assets and profit. Cash dividends are paid through Euroclear Sweden AB (formerly VPC AB). To date, Genovis has not paid any dividend. Each share in the company carries one (1) vote at the shareholders’ meeting. Each owner of shares in the company is entitled to vote for the full amount of such shares at a shareholders’ meeting, without any voting limitation.
Outstanding warrants
The Annual General Meeting on April 17, 2008, resolved to establish an incentive program for the Company’s employees. According to this resolution the Company issued 187,000 warrants, each of which entitled the holder to subscribe for one new share in the Company at an issue price equivalent to SEK 17.40. The CEO and other employees subscribed to the warrants on equal terms The warrants may be exercised for subscription of shares between February 28, 2012 and May 31, 2012. This means that if the warrants are fully exercised the new shares will constitute 1.7 percent of outstanding shares.
Dividend policy
To date Genovis has not paid any dividend.
1999 Formation of the company 100,000 1,000,000 0 1,000,000 100,000 0.1
2000 New issue 25,600 0 256,000 1,256,000 125,600 0.1 4.8
2001 Stock dividend 376,800 0 0 1,256,000 502,400 0.4
2001 Stock convert -200,000 200,000 1,256,000 502,400 0.4
2001 New issue 125,456 0 313,640 1,569,640 627,856 0.4 9.5
2002 New issue 99,100 0 247,750 1,817,390 726,956 0.4 11
2003 New issue 74,400 0 186,000 2,003,390 801,356 0.4 11
2005 New issue 360,000 0 900,000 2,903,390 1,161,356 0.4 6
2006 New issue 1,161,060 0 2,902,650 5,806,040 2,322,416 0.4 3.5
2006 New issue 1,161,179 0 2,902,947 8,708,987 3,483,595 0.4 7
2008 Stock convert -4,000 4,000 8,708,987 3,483,595 0.4
2008 New issue 870,898.40 0 2,177,246 10,886,233 4,354,493.20 0.4 7
2008 Stock convert -796,000 -10,090,233 10,886,233 10,886,233 4,354,493.20 0.4
2009 New issue 1,272,093.20 3,180,233 14,066,466 5,626,586.40 0.4 3
The Share
Class sizes Ownership
On December 31, 2008 Genovis had a total of 1,633 stockholders. Major stock- holders as of December 31, 2008 are presented in the following table.
Name Shares Warrants Votes %
Bo Håkansson and company 3,303,200 30.34
Sarah Fredriksson 848,900 20,000 7.8
Åke Svensson 204,500 1.88
Torbjörn Fridh 192,219 1.77
Nordnet Luxembourg 192,150 1.77
Hans Göran Arlock and company 178,125 1.64
Nicklas Johansson 176,175 1.62
Nordnet Pensionsförsäkring AB 133,842 1.23
Didrik Hamilton and company 127,200 1.17
Hexiron AB 125,000 1.15
Other 5,384,922 158,000 49.63
Total 10,866,233 178,000 100
Number of stockholders Number of shares Holdings (%)
1 - 1000 746 375,944 3.45
1001 - 5000 612 1,492,704 13.71
5001 - 20000 222 2,057,771 18.90
20001 - 100000 42 1,592,616 14.63
100001 - 11 5,367,198 49.30
Total 1,633 10,886,233 100
The Genovis Share - price trends and turnover
Genovis shares have been traded since September 14, 2006, on the First North stock exchange under the name GENO in trading blocks of 200 shares. Mangold Fondkommission is the Company’s Certified Adviser and liquidity guarantor.
The highest listed share price in 2008 was SEK 12.89. The market value of all listed Genovis shares on December 31, 2008, was about SEK 31 million.
Genovis
5
1.5 10
2006 2007 2008
1 000 2 000 3 000 4 000 5 000
© NASDAQ OMX 15
20 Shares OMX Stockholm_PI OMX Stockholm Pharma. Biotech&LifeS_PI
Shares traded 1,000s (incl. late entries)
