ABG Sundal Collier acted as joint global coordinator and bookrunner in SynAct Pharma’s fully subscribed rights issue of approximately SEK 150 million

On Monday 25 April, SynAct Pharma, the Swedish biotech company, announced the completion of a fully subscribed rights issue of approximately SEK 150 million. The rights issue was fully subscribed for through a combination of subscription commitments, subscription with and without subscription rights and guarantee commitments from external investors.
In total, 2,364,208 new shares were issued at a subscription price of SEK 63 per share, resulting in proceeds of approximately SEK 150 million before transaction costs. The proceeds will be used for conducting additional clinical phase 2 development with AP1189 in rheumatoid arthritis (RA), continue development of AP1189 for kidney disease in a re-designed study set-up, other research and development activities related to AP1189 and new molecules and to cover general administration costs.