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20 October 2016

Vator Securities advises Immunovia in record breaking capital raise

The capital raise of SEK 218.7 million, which was divided into a private placement share issue of SEK 189.9 million and a rights issue of SEK 28.7 million, broke the record for raising of capital for a diagnostics company on NASDAQ First North Stockholm.

The targeted new share issue attracted several institutional investors, including Handelsbanken Fonder, Ålandsbanken Fondbolag (which has been an investor in the company since the company’s public offering in December 2015), E. Öhman J: or Fonder and Banque Internationale in Luxembourg.

In the rights issue, total demand amounted to approximately SEK 40.9 million, corresponding to a total overdraft ratio of 43%.

The capital raised will primarily be used to initiate studies on diabetic patients. New prominent research shows that middle aged patients diagnosed with type 2 diabetes are at higher risk of getting pancreatic cancer. In the study, Immunovia’s blood-based biomarker test IMMrayTM PanCan-d will be used.

Homan Panahi, CEO of Vator Securities, comments:

“We have had the pleasure of acting as exclusive financial advisors for Immunovia on three occasions. The first time was in conjunction with a private financing round in the first half of 2014. The second time was their successful IPO on Nasdaq First North in December 2015 and now most recently in this significant transaction.”
Mats Grahn, CEO of Immunovia, comments:

“We really appreciate Vator Securities’ working method. It has been of significant value to us as they have actively advised us throughout the whole process and even post completion of various transactions. Vator Securities’ working method makes a significant difference as we have been able to provide our shareholders with adequate information throughout the whole process and guide the market. Vator has helped us efficiently communicate how we implement our business plan and what the market can expect from the company in the short and long term. After three successful transactions in recent years, it is evident that Vator Securities has optimized the financing of Immunovia’s operations in a uniquely effective way for the financial market.”