ABGSC acted as Joint Bookrunner in PledPharma’s SEK 250m rights issue, including an over-allotment option of SEK 50 million, in conjunction with the acquisition of Rare Thyroid Therapeutics International

On the 3rd of November 2020 PledPharma completed the acquisition of all outstanding shares in Rare Thyroid Therapeutics International, a privately held drug development company with the ultra-orphan asset Emcitate®, creating a company with the strategic focus on late stage development and commercialisation of orphan drugs. On the 25th of November 2020 PledPharma announced the successful completion of an oversubscribed rights issue of SEK 200m, launched in conjunction with the acquisition. Due to strong demand the Board of Directors decided to exercise an over-allotment option of SEK 50m. In total, 48.8 million new shares were issued at a subscription price of SEK 5.25 per share, resulting in gross proceeds of SEK 250m which will be used to finance the development of the orphan drug candidates Aladote® and Emcitate® to market approval.