The Issue will provide the company with SEK 200 million before transaction costs.
Ascelia Pharma intends to use the net proceeds from the Issue for (i) financing the Phase II study for the oral chemotherapy drug candidate Oncoral, (ii) accelerating activities towards the commercialization of the diagnostic drug Mangoral, currently in an ongoing Phase III study and (iii) general corporate purposes.
Ramp-up commercial activities
The Private Placement included a number of new and existing shareholders, among others Fourth Swedish National Pension Fund (AP4), Healthinvest Partners and Handelsbanken Fonder.
“We are happy to see such a strong interest and participation from reputable institutional investors. With Oncoral and its oral daily dosing of irinotecan chemotherapy, we have the opportunity to show both efficacy and safety benefits to patients. The funds also allow us to ramp-up commercial activities as we prepare for the launch of Mangoral,” says Magnus Corfitzen, CEO at Ascelia Pharma.
Photo of Magnus Corfitzen, CEO, Ascelia