LUND, Sweden, June 9, 2020 /PRNewswire/ -- On June 4th, Immunovia announced a
Directed Share Issue raising ~400 MSEK in capital, resulting in one
of the largest fundraising for a non-US based diagnostics company.
Proceeds from this Directed Share Issue will be used for the
commercialization activities associated with the launch of
IMMray™ PanCan-d. These activities include securing
additional high caliber talent for the company's sales, marketing
and customer support teams. Additionally, funds will be used to
increase Immunovia's activities for reimbursement
Immunovia AB (publ) ("Immunovia") today provides additional
information on the use of capital raised in the successful Directed
Share Issue on June 4, 2020. In
addition to strong support from existing and new local investors,
Immunovia also attracted sizeable demand and participation from
international investors, further broadening the company's
shareholder base. The Directed Share Issue included long-term
shareholders, Swedbank Robur, Handelsbanken, AP2, and Apus Capital,
as well as others. Via the capital increase, Immunovia also
welcomed new investors, such as OstVast Capital Management,
Consensus, Aktia Asset Management, and Altitude Capital, among
others.
With this injection of capital, Immunovia has strengthened the
company's financial position, making it more resilient to mitigate
any possible volatility in the financial markets during critical
times. This further allows Immunovia to continuously improve its
position as the world leader in early detection of complex
diseases.
Most of the proceeds from the new share issue will be allocated
to grow Immunovia Inc.'s sales and marketing team and activities,
located in Marlborough,
Massachusetts. Immunovia remains focused on targeting the
major gastro centers through the company's strong relationship with
our large and supportive Key Opinion Leader network. Proceeds will
also be allocated to the reimbursement activities across our
priority markets. Immunovia will continue to work on the
introduction and further commercialization of the
IMMray™ platform, targeting additional
opportunities such as lung cancer and a highly accurate
differential diagnosis for Rheumatoid arthritis.
IMMray™ PanCan-d's first target market will be
the United States and will launch
in the Fourth Quarter 2020, followed by a rolling launch in the
European market. Additional planned markets will follow.
"We successfully secured one of the largest raises for a non-US
based diagnostics company. As we move full speed ahead with the
commercialization of the first ever test for early detection of
pancreatic cancer, we choose to secure capital now to eliminate the
uncertainty of not being able to raise sufficient funding due to a
potential increased volatility on the back of the ongoing pandemic.
We have successfully done this," stated Mats Grahn, CEO of Immunovia. "We thank our
existing shareholders for their long-term support and welcome new
local and international renowned investors."
This is information that Immunovia is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was
submitted for publication, through the agency of the contact person
set out above, at 18:00 CET on
June 9, 2020.
About Immunovia
Immunovia AB is a diagnostic company that is developing and
commercializing highly accurate blood tests for the early detection
of cancer and autoimmune diseases based on Immunovia's
proprietary test platform called IMMray™. Tests are based on
antibody biomarker microarray analysis using advanced
machine-learning and bioinformatics to single-out a set of relevant
biomarkers that indicate a certain disease. Thus, forming a unique
"disease biomarker signature".
The company was founded in 2007, based on cancer studies and
ground-breaking research in the Department of Immuntechnology at
Lund University and CREATE Health
Cancer Center, Sweden.
The first product, IMMray™ PanCan-d, is undergoing clinical
evaluation in some of the world's largest clinical studies for
pancreatic cancer, PanFAM-1, PanSYM-1 and PanDIA-1 and is
currently entering the final validation for sales start Q4
2020. When validated, IMMray™ PanCan-d will be the first
blood-based test for early diagnosis of pancreatic cancer on the
market, with a potential to significantly improve patient survival
and outcome.
Immunovia Dx Laboratories located in Marlborough, Massachusetts, USA and
Lund, Sweden will provide
laboratory testing services in two accredited reference
laboratories.
Immunovia's shares (IMMNOV) are listed on Nasdaq Stockholm. For
more information, please visit www.immunovia.com.
CONTACT:
For more information, please contact:
Julie Silber, Director of
Investor Relations, Immunovia
Email: julie.silber@immunovia.com
Tel: +46-7-93-486-277
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SOURCE Immunovia AB