LIDDS AB (publ) board has decided on a direct share issue to Nyenburgh Holding, a Dutch Life Science Fund that invests in selected European biotech- and pharma companies. The raised capital will facilitate a faster acceleration of LIDDS' development projects, especially in the immune-oncology field where NanoZolid® based immuno-active compounds have shown very promising preclinical effects.
The direct issue of 890 419 shares will add approx. 13,5 MSEK. Nyenburgh Holding will be the fourth biggest shareholder in LIDDS and contribute with financial strength, an excellent network and expertize within the sector. The share price of 15,12 SEK is based on volume weighted average of the share price with a 5 % discount. The share issue decision is based on the shareholders authorization on LIDDS Annual Meeting on May 11, 2017.
– The directed share issue to Nyenburgh Holding is an important validation of the NanoZolid technology. It further adds resources to reach key milestones in our development projects and give LIDDS the financial strength to conduct an effective business development process, says Monica Wallter, CEO of LIDDS.
– We are excited to make this investment in LIDDS as we see ample opportunities for LIDDS to employ this innovative technology. We believe innovation of the current healthcare system is not only coming from New Chemical Entities and biologicals but also from efficient and effective drug delivery technology. LIDDS is a logical add-on to our current portfolio" says Dave van Mastwijk from Dutch healthcare investor Nyenburgh Holding.
LIDDS total number of shares after the direct issue will be 21 871 188 and the share capital will amount to 1 159 172,96 when the new shares are registered with the Swedish Companies Registration Office, Bolagsverket. The dilution of shares is 4,1 %
LIDDS will with the raised capital accelerate the exciting development projects in immuno- oncology with the aim to build alliances, collaborations and license agreements.
The directed share issue to Nyenburgh Holding is further strengthening LIDDS owner structure and it confirms the international interest for LIDDS and the NanoZolid®-technology.
For more information, please contact:
Monica Wallter, CEO LIDDS, +46 (0)737 07 09 22, email@example.com
Dave van Mastwijk, Investments Director Nyenburgh Holding, +31655796716, firstname.lastname@example.org. www.nyip.nl
LIDDS is required to disclose the information in this press release under the European Union's Market Abuse Regulation and the Securities Market Act. The information was submitted through the agency of the aforementioned contact person for publication on 15 January 2018 at 15.20 CET.
LIDDS AB (publ) develops effective medications for cancer and other diseases with the patented NanoZolid® technology. NanoZolid releases the medication locally and efficiently, which means significantly fewer side effects and treatments compared with systemic treatment. NanoZolid technology allows for the controlled, long-term and adjusted release of the medication for up to six months. NanoZolid can be combined with both large and small pharmaceutical molecules. The company's most advanced project is the prostate cancer product Liproca® Depot, which contains 2-hydroxyflutamide, which confirms that the technology has a documented clinical effect. The prostate cancer project is currently in Phase IIb. Industrial-scale production is taking place in collaboration with Recipharm. LIDDS has active development projects where NanoZolid is combined with antiandrogens, cytostatics and immunoactive agents. LIDDS shares are listed on Nasdaq First North. Redeye AB is a certified adviser to LIDDS. For more information, go to liddspharma.com.
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Source: LIDDS AB via Globenewswire