Oncopeptides AB (publ) (“Oncopeptides” or the “Company”) today announced that the Company has completed a directed new share issue (the “Issue”) of 4,750,000 shares. The subscription price was SEK 115 per share, thus raising proceeds of approximately SEK 546 million, before transaction related expenses. The subscription price in the Issue has been determined through an accelerated bookbuild procedure.
The net proceeds of the Issue are intended to be used for: (i) expansion of ongoing clinical development, (ii) expansion of research and pre-clinical program to build pipeline, (iii) scale-up of the Company’s medical affairs function, focusing on the US, (iv) scale-up of the Company’s commercial function to prepare for market launch, focusing on the US, and (v) general corporate purposes.
Oncopeptides is a research and development stage pharmaceutical company developing drugs for the treatment of cancer. The Company focus on the development of the lead product candidate Ygalo®, an innovative, Peptidase Enhanced Cytotoxics (PEnCs). Ygalo® is intended for an effective treatment of hematological cancers, and in particular multiple myeloma. The current clinical study program is intended to demonstrate better results from treatment with Ygalo® compared to established alternative drugs for patients with late-stage multiple myeloma. Ygalo® could potentially provide physicians with a new treatment option for patients suffering from this serious disease.
Carnegie acted as joint bookrunner.