STOCKHOLM Feb 8 Sweden's Oncopeptides AB said
on Wednesday it would list its shares on Nasdaq Stockholm,
raising capital for the continued development of its cancer
treatment drug Ygalo.
* Says has together with HealthCap and Industrifonden
decided, in order to further the company's continued development
of its product candidate Ygalo, to carry out a broadening of its
shareholder base through a new share issue of 650 million crowns
* "To finance phase 3-studies we are raising capital through
a share issue. We have high hopes that the study will succeed
and that we after that will be able to commercialize Ygalo,"
Oncopetides CEO Jakob Lindberg said in a statement.
* Oncopeptides says Gladiator, SEB-Stiftelsen and Carnegie
Asset Management have undertaken to, subject to certain
conditions, acquire shares in the Offering for a total value of
196 million crowns.
* The main shareholders have also undertaken to, subject to
certain conditions, acquire shares in the offering for a total
value of 40 million crowns.
* Says in connection with IPO, the company will also issue
new shares as a result of the conversion of the company’s bridge
* First day of trading in the company’s shares is expected
to be Feb 22, 2017.
* The price per share in the Offering is set to 46 SEK per
* Ygalo is intended for the treatment of patients with
late-stage relapsed and refractory multiple myeloma.
* As a rare condition, multiple myeloma is classified as an
orphan disease in the U.S. and Europe and Ygalo has been granted
orphan drug designation by the relevant authorities in both
these jurisdictions.($1 = 8.8827 Swedish crowns)
(Reporting by Johannes Hellstrom; editing by Niklas Pollard)