Ascelia Pharma has executed a private placement of SEK 200 million through a new issue of 5 million shares at a price of SEK 40 per share. The new issue was directed at a number of Swedish and international institutional investors and the subscription price was determined through an accelerated bookbuilding process. The proceeds will be used for financing the Phase II study for the oral chemotherapy drug candidate Oncoral, accelerating activities towards the commercialization of the diagnostic drug Mangoral, currently in an ongoing Phase III study and general corporate purposes. Completion of the private placement is conditional upon approval by an extraordinary general meeting.
Setterwalls has acted as legal advisor to Ascelia Pharma in connection with the private placement.
Ascelia Pharma is a biotech company focused on orphan oncology treatments. The company develops and commercializes novel drugs that address unmet medical needs and have a clear development and market pathway. The company has two drug candidates – Mangoral and Oncoral – in clinical development. Ascelia Pharma has global headquarters in Malmö, Sweden, and is listed on Nasdaq Stockholm (ticker: ACE).