Innosera ApS, a newly established company controlled by Nordic Capital Fund XI and advised by Permira Beteiligungsberatung, has launched a cash voluntary recommended public takeover bid for all shares of the Danish pharmaceutical firm Bavarian Nordic, valued at approximately 19 billion kroner.

Bavarian Nordic, a company specializing in the research, development, and manufacture of vaccines against infectious diseases, confirmed the offer in a statement to the stock exchange on Monday morning. The company’s board of directors considers the offer attractive and intends to recommend shareholders accept it.

Headquartered in Hellerup, north of Copenhagen, Bavarian Nordic was founded in 1992. Asger Aamund served as the prominent chairman of the board for over two decades.