“Thanks to this fundraising, we will be in a strong position when the topline data of the HER-096 phase 1b trial are released, which is expected in the third quarter of this year. We also continue the partnership discussions and preparations for the phase 2 trial. We thank our existing shareholders, who participated in this private placement, for their continued support in the development of HER-096 as a promising disease-modifying drug candidate for Parkinson’s disease, and we are happy to welcome new investors as the company’s shareholders,” says CEO of Herantis, Antti Vuolanto.

After careful consideration, the Board of Directors has determined that raising the funds by way of directed issue in derogation of the shareholders’ pre-emptive rights is a better alternative for the company’s shareholders than a rights issue.

Herantis intends to use the net proceeds from the directed issue for preparation of the Phase 2 clinical trial of HER-096, advancing partnering negotiations, and general corporate purposes. In preparing the directed issue, the Board of Directors has assessed several different financing options in addition to which their feasibility has been assessed on several occasions by the management of the company. After careful consideration, the Board of Directors has determined that raising the funds by way of directed issue in derogation of the shareholders’ pre-emptive rights is a better alternative for the company’s shareholders than a rights issue.

Herantis intends to make applications for the admission to trading of the New Shares on Nasdaq First North Growth Market Finland. Trading in most of the New Shares is expected to commence on Nasdaq First North Growth Market Finland on or about 11 February 2025 with the remaining New Shares to be listed shortly thereafter, subject to the respective listing applications being approved.