Setterwalls advised Guard Therapeutics in connection with a private placement and subsequent rights issue of approximately SEK 140 million

Setterwalls has advised Guard Therapeutics International AB (publ) in connection with a private placement in the form of a directed share issue of approximately SEK 60 million, and assists the company in a subsequent rights issue of shares that can provide the company with issue proceeds of approximately SEK 80 million. In total, the company can consequently receive up to approximately SEK 140 million.

Guard Therapeutics is a Swedish biotech company that identifies and develops new therapies for diseases with a great medical need for more effective treatments. The company’s primary drug candidate RMC-035 is in clinical phase and is being developed as a kidney-protective treatment in open-heart surgery and kidney transplantation. Guard Therapeutics is listed on Nasdaq First North Growth Market.

The directed share issue of approximately SEK 60 million was carried out in June and was subscribed for by a number of existing shareholders. In order to compensate the shareholders who did not participate in the directed share issue, the company’s board of directors has resolved on a rights issue of shares (repair issue) of approximately SEK 80 million. This rights issue is mainly carried out to compensate the shareholders who did not participate in the directed share issue. The directed share issue and the rights issue can thus provide the company with total issue proceeds of up to approximately SEK 140 million before issue costs. The proceeds from the issues will be used for costs associated with the company’s clinical phase 2b study POINTER and to extend the company’s cash position to support the completion of the POINTER study.