Press release -
Attgeno announces fully subscribed share issue of SEK 12 million
Attgeno AB announces that a successful share issue, directed to existing shareholders, has been completed and resulted in SEK 12 million in gross proceeds.
The proceeds will be used to finalize the clinical phase II study in cardiac surgery patients suffering from acute pulmonary hypertension, file an IND-application and continue developing IP protection through new patents.
“With the capital and trust, that we now receive from our shareholders, the company will be able to maintain a high pace in the development of the main product Supernitro (PDNO). We continue to execute in line with our existing development plan, which has received feedback from the FDA in a pre-IND meeting late April this year. Achieving a fully subscribed issue during a difficult time in the Life Science segment of the financial market is a sign of our shareholders’ belief in the company and our path forward." says Per Agvald, CEO.
The current investors include private investors, investment companies and Life Science focused investment funds like Hadean Ventures and Eir Ventures.
The issue in brief:
- The share issue generated SEK 12 million.
- Enables the company to advance the clinical development program, particularly completing a phase II study in acute pulmonary hypertension.
- Strong support from the current investor base.
- The subscription price was set at SEK 250 generating an equity value (after the issue) of SEK 282 million.
- The total number of issued shares was 48,000 generating a total number of shares, after the issue, of 1,128,254.
- Net proceeds amount to SEK 11.4 million after transaction costs of SEK 0.6 million for legal support and guarantees from some larger shareholders.
Related links
Topics
- Health, Health Care, Pharmaceuticals
Categories
- attgeno
- cardiovascular
- cure
- disease
- icu
- life science
- medicine
- nitric oxide
- treatment
- karolinska
About Attgeno
Attgeno AB is a clinical-stage, privately held Swedish pharmaceutical company with the mission to develop and commercialise the discovery of completely new methods of providing innovative and efficient nitric oxide-donating drugs. Its leading drug candidate, Supernitro, is currently in phase II clinical trials. For more information, please visit www.attgeno.com.
About Supernitro (PDNO)
Supernitro is administered as an intravenous infusion, and when entering into the blood, it has an ultra-short half-life rapidly releasing its active moiety nitric oxide (NO). As a result, the majority of its NO is released just through the short passage through the lung blood circulation where it reacts with the blood vessels and causes them to dilate. The dilation reduces the resistance for the blood flow through the lungs generated by the pumping of the right heart, and thereby the lung blood pressure is decreased. With decreased pressure to work against the right heart is alleviated. By the donation of NO in the lungs, Supernitro replaces the decrease in NO production that is a well-known consequence of different diseases leading to increased risk for acute pulmonary hypertension.
About acute pulmonary hypertension
Acute pulmonary hypertension, due to acute elicited constriction of the vessels of the lung blood, is a feared complication to major surgery, especially heart surgery, lung emboli and severe infections e.g. Covid-19. In acute pulmonary hypertension, constriction of blood vessels within the lung causes increased resistance in the lung blood vessels with a risk that the heart’s right ventricle does not have the capacity to sufficiently pump the blood through the lungs. In severe cases, the consequence is right heart failure and a drop in systemic blood pressure threatening blood flow to vital organs such as the brain, liver, kidneys and the heart itself – which can lead to a rapid death.
