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Modus Therapeutics raises SEK 40.3 million

The Board of Directors of Modus Therapeutics Holding has resolved to carry out a new issue of up to 20,125,060 shares with pre-emptive rights for the company’s shareholders, as well as a directed issue of 10,156,569 shares through the offsetting of loans from Karolinska Development AB amounting to approximately SEK 20.3 million.

The Rights Issue is primarily intended to finance general working capital, a clinical phase IIa study in anemia of chronic kidney disease, preparation for other clinical activities, as well as the storage of sevuparin and its distribution to the malaria study. The Rights Issue is covered by subscription commitments of approximately 43.8 percent, corresponding to approximately SEK 17.6 million, states the company.

Photo of John Öhd: Modus Therapeutics