Setterwalls has advised WntResearch AB in connection with a rights issue of units, consisting of shares and warrants.
WntResearch AB is a biotech company in oncology conducting development of drug candidates with a focus on various forms of metastatic cancer. The company’s research is focused on studying the body-specific protein WNT5A, which has shown to affect the spread of tumor cells. The company’s main pharmaceutical candidate is Foxy-5 – a phase II drug candidate that is considered to have great potential in the treatment against tumor spread.
Through the rights issue, WntResearch AB receives cash issue proceeds of approximately SEK 56.4 million before issue costs. In addition, WntResearch AB may receive additional issue proceeds of a maximum of approximately SEK 85 million before issue costs, provided that all warrants issued in connection with the rights issue are exercised for subscription of new shares in the company.