The board of LIDDS AB (publ) has decided to implement a directed share issue to a number of long-term investors to accelerate their own development projects and tap the full potential of NanoZolid® platform. LIDDS has recently published several positive findings concerning the immunonkologi applications, lung – and breast cancer which is next to the company’s prostatacancerprojekt demonstrates the great potential that exists in the NanoZolid® technology. In order to increase the number of their own projects and to faster be able to sign cooperation and licensing agreement with major pharmaceutical company implemented an issuance of
2 754 779 new shares, which brings LIDDS approximately 17.3 MILLION before transaction costs. The subscription price is fixed at a market rate of 6,28 crowns
.
The issue has been decided by the board of directors with the support of the authorization resolved at the annual general meeting on 11 may 2017. After the issue the share capital amounts to 1 111 980,757 sek distributed on 20 980 769 shares corresponding to a dilution of approximately 13.1 per cent.
Artists in the issue is Bengt Viterius (former hospital director), Lars Wikander (today the largest owner of LIDDS), Professor Olof Isaksson and Professor Bengt-Åke Bengtsson, and some additional individuals.
LIDDS strengthen hereby the ownership structure of the company and the proceeds of the issue means that the company can now accelerate their own development projects and increase the pace in order to create partnerships, alliances and licensing agreements. The subscription price has been calculated on market principles and without discount. The board of directors considers the issue from a shareholder perspective is carried out with advantageous conditions. The board has also taken into account the large network and contacts that many of the investors have within the pharma industry and the strong trust and long-term perspective, as the subscribers in the issue expressed by LIDDS.
Registration at the Swedish companies registration office is expected to take place approximately a week after that the full rights offering proceeds paid in. The company reserves the right to minor deviations from the above in connection with the final registration of the share issue with the Swedish companies registration office.
For more information, please contact:
Monica Wallter, CEO, +46 (0)737 07 09 22, e-mail: monica.wallter@liddspharma.com
Bengt Norvik, CFO, +46 (0)730 74 68 00, e-mail: bengt.norvik@liddspharma.com
The information in this press release is such that LIDDS is obliged to publish under the EU marknadsmissbruksförordning and the law on the securities market. The information was submitted, by the above contact person in the government, for publication on 19 June 2017 there 08:40 CET.
LIDDS AB (publ) develops effective pharmaceutical products against different kinds of cancer with the patented NanoZolid®technology. NanoZolid® releases the drug locally and efficiently, in close proximity to the tumor, which means significantly less side effects compared with systemic treatment. NanoZolid®-technology provides the possibility of a controlled and tailored release of drug for up to six months. NanoZolid® can integrate both smaller and larger drug molecules.ex. anticancer drugs and antibodies. The company’s most advanced project, prostate-cancerprodukten Liproca® Depot containing 2-hydroxyflutamide, validates that the technology platform works clinically. The project is in phase IIb. Industrial scale production is carried out in collaboration with Recipharm. LIDDS has active development projects in which NanoZolid® combined with anti-androgens, chemotherapy and immune-active substances. For more information, see www.lidds.se. Redeye AB is LIDDS certified adviser.
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