Divestitures
Alligator Bioscience Divests Mitazalimab Rights to Biossil in Deal Worth Up to $250 Million
By News Desk ·
Key takeaways
- Alligator Bioscience agreed to sell all rights to mitazalimab to Biossil for $0.75 million upfront.
- The deal includes up to $108 million in milestones tied to approvals and sales, plus mid-single-digit royalties.
- Total payments to Alligator Bioscience are capped at $250 million, and closing is expected within 30 days subject to conditions.
Alligator Bioscience agreed to sell all rights to mitazalimab to Biossil for $0.75 million upfront, with up to $108 million in milestones tied to approvals and sales and mid-single-digit royalties capped at $250 million in total payments. TradingView reported the agreement, which is expected to close within 30 days subject to conditions.
Alligator Bioscience is a Swedish biotech founded in 1997 and headquartered in Lund, with a headcount range of 11-50. Biossil is the buyer of the mitazalimab rights.
How the Mitazalimab Sale Is Structured
The $0.75 million upfront payment gives Alligator Bioscience immediate cash. The up to $108 million in milestones is contingent on approvals and sales, and the mid-single-digit royalties carry a cap that brings total payments to $250 million. Biossil will fund development of mitazalimab, removing Alligator's future research and intellectual property costs for the asset. The transaction is not yet closed and remains subject to conditions, with closing expected within 30 days.
Alligator Bioscience's Funding Record
According to akta.pro company records, Alligator Bioscience raised approximately SEK 1.1 billion across six rights issues and one convertible note between 2021 and 2026, including SEK 257 million in 2021, SEK 199 million in 2023, SEK 150.9 million in February 2024, an SEK 80 million convertible from Fenja Capital in June 2024, SEK 280 million in December 2024, SEK 120 million in October 2025, SEK 91 million in December 2025 and SEK 12 million from warrant exercises in March 2026 to fund mitazalimab development and pipeline advancement. The same records show 628,106,848 shares outstanding after the March 2026 exercise of 93,589,862 warrants at SEK 0.20 per share, generating approximately SEK 19 million in gross proceeds.
Earlier Moves Before the Biossil Deal
Alligator Bioscience cancelled its flagship pancreatic-cancer drug mitazalimab in July, reporting the decision in its half-year results on August 26, and is now a caretaker for a 35% stake in Henlius's gastric-cancer antibody HLX22, AInvest reported in August 2026. In September 2026, the company issued warrants TO 15 and TO 16 and 2.94 billion new shares in its rights offering, with full exercise of TO 15 potentially raising up to SEK 29.4 million in January 2027 and TO 16 up to SEK 29.4 million in January 2028, The future of trading reported. The same outlet reported in October 2026 that the board proposed a 1-for-1,000 reverse ordinary share split at a November 27, 2026, extraordinary general meeting, with split-adjusted trading scheduled for December 8, 2026.
Alligator Bioscience's November 27 Meeting
Alligator Bioscience's extraordinary general meeting is set for November 27, 2026, where the board's proposed 1-for-1,000 reverse ordinary share split will be considered, with split-adjusted trading scheduled for December 8, 2026.