OSLO, Norway--(BUSINESS WIRE)--Nordic Nanovector is pleased to announce that it has closed its pre-IPO
private placement of 10,000,000 new shares at a price of NOK 25 per
share for total gross proceeds of NOK 250 million. Completion of the
private placement is subject to resolution of an extraordinary general
meeting (“EGM”). The Company will hold an EGM by the end of June 2014.
The private placement, which was directed towards existing shareholders
as well and new institutional and professional investors, attracted
strong investor interest and was increased from NOK 150 million to NOK
250 million on the basis of strong demand from solid institutional
The private placement was managed by ABG Sundal Collier and DNB Markets and was significantly oversubscribed. The Company’s largest shareholder, HealthCap VI L.P. participated in the placement and were allocated 1,800,000 shares. The Company intends to use the net proceeds of the Private Placement to fund further clinical development of Betalutin™ for treatment of non-Hodgkin Lymphoma.
The board of directors have decided to effect a subsequent repair issue towards existing shareholders at the same subscription price as in the offering. Further details will be announced in due course.
About Nordic Nanovector AS
Nordic Nanovector AS is a privately held company established in 2009. The company is based in Norway and has offices and laboratories in Oslo. The company is developing novel innovative anticancer radioimmunotherapeutics to treat non-Hodgkin Lymphoma (NHL) and other hematological malignancies.
Betalutin™, is a pharmaceutical product candidate consisting of a radionuclide conjugated to a tumor seeking carrier/antibody, which can be used for irradiation of malignant metastasized tumors with minimal damage to nearby healthy normal tissue. This technology aims to prolong and improve the quality of life of people who suffer from non-Hodgkin Lymphoma (NHL).
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