The Board of Directors of Immunovia has resolved to carry out an issue of shares and warrants with preferential rights for the company’s existing shareholders of initially approximately SEK 70 million.

The company has received subscription undertakings amounting to a total of approximately SEK 1.3 million, corresponding to approximately 2 percent of the Rights Issue. Furthermore, the company has received guarantee commitments amounting to a total of approximately SEK 33.7 million, corresponding to approximately 48 percent of the Rights Issue, which in total is covered by subscription undertakings and guarantee commitments of approximately SEK 35.0 million, corresponding up to approximately 50 percent of the Rights Issue.

Immunovia intends to use the proceeds from the Rights Issue to finance product development and clinical studies to demonstrate analytical and clinical validity of the company’s next generation test as well as ongoing business operations. The Rights Issue is subject to approval by the Annual General Meeting on 19 June 2024.

Bridge loans of a total of SEK 15 million

To secure the company’s liquidity needs until the completion of the Rights Issue, it has entered into agreements on bridge loans of a total of SEK 15 million on market terms.

“The capital we are seeking will fund the analytical and clinical validation studies needed to commercialize our next-generation test in 2025. The test showed strong performance in the recently announced model-development study. We are eager to move quickly to bring the test to market to satisfy the tremendous market demand for a simple blood test to detect pancreatic cancer,” says Jeff Borcherding, CEO of Immunovia.

Photo of Jeff Borcherding