case / 04 Dec 2020
Setterwalls has advised Idogen in connection with rights issue of units
Setterwalls has advised Idogen AB in connection with a rights issue of units, consisting of shares and warrants. Through the rights issue, Idogen receives initial issue proceeds of approximately SEK 34 million before issue costs.
Idogen is a Swedish biotechnology company that develops tolerogenic cell therapies with the purpose to treat undesirable activation of the immune system. The term ‘tolerogenic’ comes from the assumption that the body’s immune defence, after treatment with Idogen’s cell therapy, will be able to selectively tolerate a specific pathogenic or immune-activating antigen. Idogen’s most advanced project, IDO 8, is designed to restore the efficacy of hemophilia drugs in patients who have developed neutralising antibodies. Idogen’s second project, IDO T, is being developed to prevent kidney transplant rejection. In a third programme, IDO AID, Idogen is focused on the treatment of autoimmune diseases.
Through the rights issue, Idogen receives initial issue proceeds of approximately SEK 34 million before issue costs. In addition, Idogen may receive additional issue proceeds of SEK 46 million before issue costs upon full exercise of all warrants that are issued in the rights issue.