LIDDS: Major European Investment Funds invest 21,7 MSEK in a direct share issue

LIDDS: Major European Investment Funds invest 21,7 MSEK in a direct share issue
7 June, 2018

LIDDS AB (publ) has decided on a direct share issue to Nyenburgh Holding BV, AESCAP 2.0 and BWG Invest, all being international funds that invests in closely selected European biotech- and pharma companies. The raised capital will facilitate a fast acceleration of LIDDS’ development projects, including the immune-oncology field where NanoZolid® based immuno-active compounds have shown very promising preclinical effects.

The direct issue of 1 180 000 shares will add approx. 21,7 MSEK to LIDDS. Nyenburgh Holding will maintain as the third largest shareholder in LIDDS and contributes with financial strength, an excellent network and expertize within the sector. AESCAP 2.0, based in Amsterdam, is a current shareholder in LIDDS that invests in next generation medicines and builds a selected portfolio of only 20 companies across Europe and the US. BWG Invest is a top ten shareholder in LIDDS and strengthens its shareholding position through this direct share issue.

The share price of 18,38 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 16, 2018.

– The directed share issue to Nyenburgh Holding, AESCAP 2.0 and BWG Invest is an important validation of the NanoZolid® technology and we are very pleased to attract these funds to increase their ownership in LIDDS. The share issue adds longer term financing of the company, resources to reach key milestones in our development projects and provides additional financial strength to conduct an effective business development process, says Monica Wallter, CEO of LIDDS.

LIDDS total number of shares after the direct issue will be 23 051 188 and the share capital will amount to 1 221 712,964 SEK when the new shares are registered with the Swedish Companies Registration Office, Bolagsverket. The dilution of shares is 5,1 %.

LIDDS will with the raised capital further accelerate the exciting NanoZolid® development projects with the aim to build alliances, collaborations and license agreements.

The directed share issue to Nyenburgh Holding, AESCAP 2.0 and BWG Invest 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, monica.wallter@liddspharma.com 
Dave van Mastwijk, Investments Director Nyenburgh Holding, +31655796716, mastwijk@nyenburgh.com, www.nyip.nl.  
Patrick Krol, Fund Manager AESCAP 2.0, +31 6 15071415, pkrol@aescap.com, www.aescap.com    

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 7 June 2018 at 08,30 CET.
                 
About LIDDS                                                             
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 www.liddspharma.com.