Elicera Therapeutics has announced that the subscription period for the company’s new share issue prior to the planned listing on Nasdaq First North Growth Market began May 24 and runs until June 8.

The new share issue consists of a directed issue of a maximum of 6,500,000 Units, each consisting of one (1) new share and one (1) new free warrant of series TO 1. Upon full subscription in the Offer, Elicera will receive SEK 52.0 million before issue costs, and upon full exercise of the warrants included in the Offer, the company will in November 2022 receive an additional SEK 37.7 million before issue costs.

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An increased focus on clinical studies

The Board of Directors has decided to implement this Offering to ensure continued successful development in accordance with the company’s business plan and strategy, it states. The purpose of the Offering is primarily to finance the development of the four pharmaceutical projects for preclinical and clinical studies, of which ELC-100 is most advanced.

“The impending capital raise and the planned market listing of the shares give us the opportunity to effectively advance our drug candidates towards patient studies and better opportunities to expose our business to healthcare, capital markets and industry.”

Elicera intends to use the net proceeds for further development of the ELC-100 and ELC-201, further development of ELC-301 and ELC-401, general development work and to bolster working capital and administration.

“Elicera is now entering a new development phase for both our next generation CAR-T and oncolytic virus candidates with an increased focus on clinical studies. The impending capital raise and the planned market listing of the shares give us the opportunity to effectively advance our drug candidates towards patient studies and better opportunities to expose our business to healthcare, capital markets and industry,” says Jamal El-Mosleh, CEO, Elicera.

Above photo of Magnus Essand and Di Yu, Uppsala University, the researchers behind Elicera