Advokatfirman Lindahl advises NeuroVive Pharmaceutical AB (publ), listed on Nasdaq Stockholm, Small Cap, in connection with its rights issue to existing shareholders.
On 15 February 2018, the Board of Directors of NeuroVive resolved to issue shares and warrants (units) with preferential rights for existing shareholders. The resolution is conditional on an approval by the EGM, to be held on 22 March 2018. Upon full subscription of the rights issue, the Company will receive approximately MSEK 78.5 before issuance costs. Full exercise of the warrants will raise a further MSEK 37.3 for the company before issuance costs. The rights issue is guaranteed to a level corresponding to 70 per cent of the rights issue by guarantee commitments. The proceeds from the rights issue will mainly be used to finance the further clinical development of KL1333 and preparing for the start of clinical Phase II efficacy study of NeuroSTAT, as well as to the Company’s other drug development projects in pre-clinical phase.
NeuroVive Pharmaceutical AB is a leader in mitochondrial medicine, with one project in clinical phase II development for the prevention of moderate to severe traumatic brain injury (NeuroSTAT®) and one project in clinical phase I (KL1333) for genetic mitochondrial diseases. The R&D portfolio consists of several late stage research programs in areas ranging from genetic mitochondrial disorders to cancer and metabolic diseases such as NASH. The Company’s strategy is to advance drugs for rare diseases through clinical development and into the market. The strategy for projects within larger indications outside the core focus area is out-licensing in the preclinical phase. NeuroVive is listed on Nasdaq Stockholm, Sweden (ticker: NVP). The share is also traded on the OTCQX Best Market in the US (OTC: NEVPF).
Lindahl assists NeuroVive in the transaction with the team headed by Annika Andersson (responsible partner), Pekka Frölander and Oscar Lunde (Capital Markets and public M&A), Jonas Löfgren (Life Science), Siri Alvsing (Intellectual Property), Johan Hörnberg and Natalie Tell (Employment Law), Anna Romell Stenmark and Isabella Rosman (Tax), and Annica Daleby (Finance).