Private placement of shares in Cinclus Pharma Holding AB (SE) — SEK 250 million

Carnegie acted as sole financial advisor in the private placement of shares in Cinclus Pharma Holding AB. Cinclus Pharma is a clinical stage pharma company developing small molecules for the treatment of gastric acid related diseases. Its lead candidate, X842, has successfully completed a Phase I clinical trial and is expected to start a Phase II study in H2 2020. March 2020.