Oasmia carries out private placement
Oasmia Pharmaceutical AB, Uppsala, Sweden, carries out private placement
The Board of Directors in Oasmia Pharmaceutical AB (publ) decided on a directed issue of 1,720,000 shares supported by the authorization given at the Annual General Meeting on September 25, 2009. The share issue is directed towards a limited number of institutional players and other larger investors. The subscription price amounts to SEK 25 per share. A fully subscribed share issue will provide the company with SEK 43,000,000 before issue expenses.
After the share issue, the number of shares will amount to 37,612,858 and the share capital will amount to SEK 3,761,285.80 provided that the issue is fully subscribed. The new shares correspond to about 4.5 % of the share capital and votes in Oasmia provided that the share issue is fully subscribed.
In order to deliver the subscribed shares, the principal owner of Oasmia Pharmaceutical AB (publ), Oasmia SA, will lend shares which are passed on to subscribing investors awaiting the registration of the share issue with the Swedish Companies Registration Office.
- The purpose of the private placement is to create a financial buffer for the continued registration of our prioritized pharmaceutical projects Paccal® Vet and Paclical® and to broaden the circle of owners with a number of larger long-term shareholders, says Julian Aleksov, CEO of Oasmia.
Oasmia recently completed enrollment of 243 dogs for the pivotal Phase III study of Paccal® Vet, the first parenteral cytostatic for treatment of malignant skin cancer in dogs. Within human oncology, Oasmia has another pharmaceutical candidate - Paclical® - currently in clinical Phase III studies for treatment of ovarian cancer. The active substance in Paclical® and Paccal® Vet is paclitaxel, which is one of the most used cytostatics in the world.
Stockholm Corporate Finance has been an advisor for Oasmia in connection to the new share issue, www.stockholmcorp.se
About Oasmia
Oasmia Pharmaceutical AB develops second and third generation cancer drugs based on nanotechnology for human and veterinary use. The broad portfolio is focused on oncology and contains several promising products in clinical and pre-clinical phase. Oasmia cooperates with leading universities and other biotech companies to discover and optimize substances with a favorable safety profile and better efficacy. The company name was registered in 1999 and is based in Uppsala, Sweden.
The press release is available in PDF format here.
