This dual listing will further enable the advance its two innovative programs: CDNF in Parkinson’s Disease and drug candidate, Lymfactin, in Lymphedema.
As part of the offering Herantis issued a total of 618,018 new shares at a price of €6.72 EUR / SEK 71 per share bringing the total number of shares in the Company to 6,680,305. Trading on Nasdaq First North commenced on December 16th, 2019.
The interest expressed by new investors verifies the company’s potential in two underserved diseases that are in urgent need of innovative therapies.
In Parkinson’s, Herantis’ CDNF is a neuroprotective factor that addresses several key pathways in PD pathology. First clinical results are expected early next year. In preclinical studies CDNF was shown to alleviate and even reverse PD effects.
In Lymphedema, Lymfactin, a gene therapy that specifically re-establishes the lymphatic tissue to remove the severe limb swelling in lymphedema has shown initial promising results in a Phase 1 trial in breast-cancer associated lymphedema. Following successful completion of the Phase 1 earlier this year, Lymfactin is currently being tested in an ongoing Phase 2 clinical trial.
“The intended dual-listing in Sweden and the capital raised mark an important corporate development milestone for Herantis as they enable us to further advance our innovative CDNF program in Parkinson’s disease and our drug candidate Lymfactin in Lymphedema with a solid basis for continued growth. We value the positive interest from Swedish investors and their support for both of our clinical programs based on their potential to make an impact in serious diseases. We look forward to keeping all our shareholders updated on the near-term inflection points expected in 2020,” says CEO of Herantis, Pekka Simula.
Photo of Pekka Simula: Herantis Pharma