ABG Sundal Collier acted as joint bookrunner in relation to the private placement of NOK 270m in Ultimovacs

On Tuesday 26 October 2021, Ultimovacs announced the successful completion of a private placement of 1,260,000 new shares at a price per share of NOK 125, raising gross proceeds of NOK 270 million. The price was determined in an accelerated book building process. The net proceeds from the private placement will be used for (i) financing of the LUNGVAC Phase II trial evaluating UV1 in non-small cell lung cancer, (ii) bringing the UV1 platform into Phase III readiness, (iii) further development of the Tetanus-Epitope-Targeting technology platform, and (iv) general corporate purposes. The net proceeds are expected to extend the Company’s cash runway to the end of 2023. The transaction attracted strong interest from existing shareholders as wel as new investors both locally and internationally and was multiple times oversubscribed.
Ultimovacs  is developing immune-stimulatory vaccines to  treat a broad range of cancers.  Ultimovacs’ lead universal cancer  vaccine candidate UV1 targets human telomerase  (hTERT), present in 85-90% of cancers in all stages of tumor growth. By  directing the immune system to hTERT antigens, UV1 drives CD4 helper T cells to  the  tumor  to  activate  an  immune  system cascade and increase anti-tumor responses.  With  a  broad  Phase  II  program,  Ultimovacs  aims   to clinically demonstrate  UV1’s impact  in multiple  cancer types  in combination  with other immunotherapies. Ultimovacs’   second   technology   approach,  based  on  the proprietary  Tetanus-Epitope-Targeting  (TET)  platform, combines tumor-specific peptides and adjuvant in the same molecule and entered Phase I trials in 2021.