Zealand Pharma: raises fresh money in private placement
(CercleFinance.com) - Zealand Pharma on Thursday said it had raised nearly 560 million Danish kronor (about 75 million euros) in a transaction with existing shareholder Van Herk Investments.
The Copenhagen-based biotechnology company said it has issued a total of close to 4 million new shares at a subscription price of 140.8 Danish kronor per share.
The share is currently trading 7% higher, at 158.8 Danish kronor.
Van Herk, which has been one of its top three shareholders since early 2018, is a long-term investor in biotech and had been the largest shareholder in Ablynx, which was sold to Sanofi last year.
More recently, Van Herk increased its stake in Belgian drug developer Galapagos.
The funding will be used to continue supporting Zealand Pharma's peptide platform, accelerate ongoing development of late stage assets, and prepare for the launch of the company's first fully-owned asset.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Copenhagen-based biotechnology company said it has issued a total of close to 4 million new shares at a subscription price of 140.8 Danish kronor per share.
The share is currently trading 7% higher, at 158.8 Danish kronor.
Van Herk, which has been one of its top three shareholders since early 2018, is a long-term investor in biotech and had been the largest shareholder in Ablynx, which was sold to Sanofi last year.
More recently, Van Herk increased its stake in Belgian drug developer Galapagos.
The funding will be used to continue supporting Zealand Pharma's peptide platform, accelerate ongoing development of late stage assets, and prepare for the launch of the company's first fully-owned asset.
Copyright (c) 2019 CercleFinance.com. All rights reserved.