case | 19 Oct 2023

Setterwalls has assisted SynAct Pharma in connection with a private placement of SEK 60.5 million

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Setterwalls has assisted SynAct Pharma AB (“SynAct”) in connection with a directed issue of shares and warrants raising initial gross proceeds of approximately SEK 60.5 million.

SynAct has carried out a private placement of shares and warrants to an entity managed by Heights Capital Management, Inc. Through the private placement, SynAct will initially receive approximately SEK 60.5 million before issue costs. The net proceeds are intended to be used for continued development of the Company’s primary drug candidate resomelagon through proof-of-concept Phase 2 clinical studies, development of the TXP portfolio which was acquired in January 2023 and to finance general corporate purposes.

SynAct is a clinical stage biotechnology company focused on the resolution of inflammation through the selective activation of the melanocortin system. The company has a broad portfolio of oral and injectable selective melanocortin agonists aimed at inducing anti-inflammatory and inflammation resolution activity in autoimmune and inflammatory diseases to help patients achieve immune balance and overcome their inflammation. SynAct is listed on Nasdaq Stockholm.

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