On January 15, 2018 LIDDS AB (publ) reported that it has decided on a direct share issue to Nyenburgh Holding, a Dutch Life Science Fund that invests in selected European biotech- and pharma companies (Press release, Lidds, JAN 15, 2018, View Source [SID1234555919]). The raised capital will facilitate a faster acceleration of LIDDS’ development projects, especially in the immune-oncology field where NanoZolid based immuno-active compounds have shown very promising preclinical effects.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
The direct issue of 890 419 shares will add approx. 13,5 MSEK. Nyenburgh Holding will be the fourth biggest shareholder in LIDDS and contribute with financial strength, an excellent network and expertize within the sector. The share price of 15,12 SEK is based on volume weighted average of the share price with a 5 % discount. The share issue decision is based on the shareholders authorization on LIDDS Annual Meeting on May 11, 2017.
– The directed share issue to Nyenburgh Holding is an important validation of the NanoZolid technology. It further adds resources to reach key milestones in our development projects and give LIDDS the financial strength to conduct an effective business development process, says Monica Wallter, CEO of LIDDS.
– We are excited to make this investment in LIDDS as we see ample opportunities for LIDDS to employ this innovative technology. We believe innovation of the current healthcare system is not only coming from New Chemical Entities and biologicals but also from efficient and effective drug delivery technology. LIDDS is a logical add-on to our current portfolio" says Dave van Mastwijk from Dutch healthcare investor Nyenburgh Holding.
LIDDS total number of shares after the direct issue will be 21 871 188 and the share capital will amount to 1 159 172,96 when the new shares are registered with the Swedish Companies Registration Office, Bolagsverket. The dilution of shares is 4,1 %
LIDDS will with the raised capital accelerate the exciting development projects in immuno- oncology with the aim to build alliances, collaborations and license agreements.
The directed share issue to Nyenburgh Holding is further strengthening LIDDS owner structure and it confirms the international interest for LIDDS and the NanoZolid-technology.