case / 03 Dec 2021

Setterwalls has advised Guard Therapeutics in connection with private placement and rights issue of in total approximately SEK 182 million

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Setterwalls has advised Guard Therapeutics International AB (publ) in connection with a private placement through a directed new issue of approximately SEK 54 million and a subsequent rights issue of approximately SEK 128 million.

Guard Therapeutics International AB (publ) is a pharmaceutical company that identifies and develops new therapies for diseases with a great medical need for more effective treatments. The company’s clinical investigational drug ROSgard is being developed as a protective treatment against acute kidney injury with an initial focus on patients undergoing heart surgery.

The directed new issue of approximately SEK 54 million before issue costs was subscribed for by a number of Swedish and international investors. Through the rights issue, the company will receive an additional approximately SEK 128 million before issue costs. The directed new issue and the rights issue thus provide the company with total issue proceeds of approximately SEK 182 million before issue costs. The issue proceeds will be used for clinical study costs linked to the planned clinical phase 2 study in cardiac surgery and expansion of the clinical program of ROSgard to kidney transplantation, additional CMC- and preclinical development, and other operating activities.

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