The law firm Lindahl served as legal advisors for PledPharma AB (plc), listed on Nasdaq Stockholm AB, for the acquisition of Rare Thyroid Therapeutics International AB, a privately owned company that develops Emcitate, an orphan drug candidate for treating an unusual congenital disorder in the body’s transport system for thyroid hormones. The purchase price comprises a cash payment of SEK 60 million and approximately SEK 335 million in newly issued shares in PledPharma. The sellers are also entitled to an earnout. At the same time, PledPharma is conducting a fully guaranteed preferential rights issue of roughly SEK 200 million and recommends the AGM to authorise the board of directors to come to a decision about an overallotment option of roughly SEK 50 million.
The acquisition is an important step in PledPharma’s new strategic focus on the attractive orphan-drug market with assets in a highly advanced phase of development. The company intends to change its name to Egetis Therapeutics AB.
Lindahl’s legal team was made up of Gunnar Mattsson, Erika Svensson, Jens Frykstrand, Emelie Carmhagen Wernoff, Olov Kling, Therese Norenäs and Mikael Olsson.