Setterwalls advises Saniona in connection with directed issue of approximately SEK 567 million

Setterwalls has advised Saniona AB in connection with a directed issue to a number of U.S. and international institutional investors and sector specialists.

Saniona AB, a rare disease biopharmaceutical company focused on research, development and commercialization of treatments for the central nervous system, has carried out a directed issue that provides the company with gross proceeds of USD 65 million (approximately SEK 567 million). The new issue was directed to a number of U.S. and international institutional investors and sector specialists.

The issue proceeds will be used to continue Saniona’s advancement of its late-stage clinical trials with the product candidate Tesomet in two rare eating disorders, hypothalamic obesity and Prader Willi Syndrome, as well as to build its U.S.-based organization in support of the company’s clinical development programs.