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InDex Pharmaceuticals raises 250 million SEK

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The Stockholm based company InDex Pharmaceuticals announces new issue of shares of SEK 250 million. The issue also includes an overallotment option of 25 million. The subscription period runs until September 27, 2016.

InDex main owners SEB Venture Capital, Industrifonden and NeoMed Management has made significant subscription commitments in the issue of new shares, which through subscription commitments and guarantee commitments is guaranteed to 100 percent.

InDex will also apply for the company’s shares of class B to be listed for trading on Nasdaq First North Stockholm. Provided that the application for listing is approved, the first day of trading is planned to occur on or about the 11th of October 2016.

The purpose of the offering – in addition to broadening the shareholder base – is to fund the upcoming Phase IIb study with the drug candidate cobitolimod.

“With the development now accelerating and entering a decisive stage, the capital requirement increases. At the same time, we see great potential for a significant increase in value over a couple of years. It is therefore natural to turn to the public market for financing,” says InDex Pharmaceuticals CEO Peter Zerhouni.