Date: 2011-05-05
Type of information: Private placement
Company: Selvita (Poland)
Investors:
Amount: PLN 14,85 million ($ 5.5 million - € 3.74 million)
Funding type: private placement
Planned used: Proceeds from the financing will be used primarily for the ongoing pre-clinical development of Selvita’s drug candidates including the potentially first in class compounds: SEL24 (Pim kinase inhibitor in oncology), SEL120 (anti-mitotic agent with a novel mechanism of action) and SEL113 (oncology and auto-immune disorders). The company will also expand its lab space for outsourcing of drug discovery projects which is the second pillar of Selvita’s business model.
Others: Selvita has entered into definitive agreements with investors in Poland to sell in a private placement 2,7 million shares of its stock at a price of PLN 5.5 per share, resulting in gross proceeds to the company of PLN 14,85 million ($ 5.5 million - € 3.74 million). The capitalization of the company after the issue will be around $ 21 million (€ 14.2 million). Selvita expects its stock to be listed on the Warsaw Stock Exchange NewConnect market in June 2011, subject to regulatory approvals.
Therapeutic area: Cancer - Oncology
