Advokatfirman Lindahl advises NeuroVive Pharmaceutical AB (publ), listed on Nasdaq Stockholm, in connection with its rights issue to existing shareholders.
On 28 February 2016, the Board of Directors of NeuroVive decided to carry out a new issue of shares and warrants (units) with preferential rights for existing shareholders. The resolution is conditional on the approval of the EGM on 31 March 2016. Upon full subscription of the new issue, the Company will raise approximately MSEK 94.4 before issue expenses. Full exercise of the warrants will raise at least a further MSEK 32.6 for the company. The rights issue is guaranteed up to an amount of approximately MSEK 70.9, corresponding to 75 per cent of the new issue, through guarantee commitments with external investors. The proceeds from the new issue will be used for NeuroVive’s continued operations in drug development, clinical trials and partnership activities. The prospectus is expected to be made public on 12 April 2016.
NeuroVive Pharmaceutical AB (publ) is a pioneer in mitochondrial medicine and a company committed to the discovery and development of highly targeted candidates that preserve mitochondrial integrity and function in areas of significant therapeutic need. NeuroVive’s business approach is driven by value-adding partnerships with mitochondrial research institutions and commercial partners across the globe. NeuroVive’s portfolio consists of two clinical projects in acute kidney injury (AKI) and traumatic brain injury (TBI) with candidates in clinical and preclinical development and two drug discovery platforms. The NeuroSTAT® product has orphan drug status in Europe and in the US for treatment of moderate to severe traumatic brain injury and is currently being evaluated in a study, CHIC. Ciclosporin is being evaluated in an on-going study, CiPRICS, in acute kidney injury during major surgery. NeuroVive’s shares are listed on Nasdaq, Stockholm, Sweden.
Lindahl assists NeuroVive in the transaction through Annika Andersson (Capital Markets and Public M&A) with the assistance of Maria Arnoldsson (project manager), Olivia Flink and Sebastian Iso-Kamula (Capital Markets and public M&A), Jonas Löfgren (Life Science), Jonas Westerberg, Annie Kabala and Daniel Nilsson (Intellectual Property), Johan Hörnberg (Employment Law), Anna Romell Stenmark and Therese Norenäs (Tax).