Date: 2014-04-08
Type of information: Private placement
Company: Biotec Pharmacon (Norway)
Investors:
Amount: NOK 78 million (€9.47 million)
Funding type: private placement
Planned used: The net proceeds from the new share issue will primarily be used to commercialise the novel wound healing product Woulgan® Biogel. Woulgan® Biogel received last week CE-marking as an advanced medical device, and the Company and its international partner Smith & Nephew will immediately commence market evaluation trials. The shared long-term ambition is to establish Woulgan® Biogel as a mass-market product in the large wound healing market.
Others: * On April 8, 2014, Biotec Pharmacon has announced that the Company has raised NOK 78 million (€9.47 million) in gross proceeds through a private placement of 3,900,000 new shares, each with a par value of NOK 1.00, at a price of NOK 20.00 per share. The new shares represent approximately 9.9% of the current issued shares in the Company. The Private Placement took place through an accelerated bookbuilding process managed by Carnegie AS. It has been approved by the Board of Directors of the Company in accordance with an authorization from the Annual General Meeting held 27 May 2013.
Therapeutic area: Medical devices
