- Source : Press Release
- Date : 2018-06-28
- Companies : Camurus AB
Camurus Intends to Launch a Directed Share Issue of Approx. MSEK 100
Camurus AB (publ) (“Camurus” or the “Company”) (Nasdaq Stockholm, CAMX) today announced its intention to execute a directed share issue of approx. MSEK 100 to Swedish and international institutional investors (the “Issue”). The company has retained Carnegie Investment Bank AB (publ) and Jefferies International to act as joint bookrunners (together the “Joint Bookrunners”) in connection with the Issue. The subscription price and the total number of new shares in the Issue will be determined through an accelerated bookbuilding procedure (the “Bookbuilding”).
The Bookbuilding will start immediately following this announcement. Pricing and allocation of the new shares is expected to take place before the beginning of trading on Nasdaq Stockholm at 09:00 CEST on 29 June 2018. The timing of the closing of the Bookbuilding, pricing and allocation are at the discretion of the Company. The Company will announce the outcome of the Issue in a press release after the closing of the Bookbuilding.
The purpose of the Issue is to contribute to finance development of new clinical drug candidates, products and/or supporting technologies, and prepare marketing and sales for CAM2038 in opioid dependence on markets outside of Europe. During the second half of 2018, Camurus expects marketing approvals for CAM2038 in Europe, the US and Australia. Near term, the Company will continue to invest in launch and marketing preparations in EU and Australia, as well as seeking to capitalize on the significant opportunities that it sees in the pain indication for CAM2038, acromegaly and neuroendocrine tumors for CAM2029, and pulmonary arterial hypertension for CAM2043. The reasons for the deviation from the shareholders’ preferential rights are to raise capital in a time and cost-effective manner.
The Issue is, among other things, subject to resolution by the Board of Directors of Camurus, pursuant to the authorization given by the 2018 Annual General Meeting, to issue new shares following close of the Bookbuilding.
In connection with the Issue, the Company has agreed to a lock-up undertaking, with customary exceptions, on future share issuances for a period of 120 calendar days after the settlement date. In addition, in connection with the Issue, Sandberg Development AB, currently holding 53.7 percent of the shares in Camurus, the Board of Directors of Camurus and Senior Management of Camurus have agreed not to sell any shares in Camurus for a period of 90 calendar days after the settlement date, subject to customary exceptions.
Camurus is a Swedish research-based pharmaceutical company committed to developing and commercialising innovative and differentiated medicines for the treatment of severe and chronic conditions. New drug products with best-in-class potential are conceived based on the proprietary FluidCrystal® drug delivery technologies and an extensive R&D expertise. Camurus’ clinical pipeline includes products for treatment of cancer, endocrine diseases, pain and addiction, developed in-house and in collaboration with international pharmaceutical companies. The company’s shares are listed on Nasdaq Stockholm under the ticker “CAMX”. For more information, visit www.camurus.com.
Any investment in the shares of Camurus involves risks. The Company has today updated its investor relations website to include a set of risk factors relevant to investors in the Company.