Home Interviews Saniona’s CEO on the USD 65 million capital raise

Saniona’s CEO on the USD 65 million capital raise

Saniona’s CEO on the USD 65 million capital raise

4 July, 2021
Yesterday, Saniona communicated it had raised USD 65 million (approximately SEK 567 million) in a directed new issue to a number of US and international institutional investors and sector specialists. BioStock reached out to Rami Levin, the company’s US-based President and CEO, for a comment.

With the 65 MUSD financing transaction in place, that was communicated yesterday, biopharma company Saniona is well-capitalized to move forward with drug trials testing the clinical efficacy of its lead candidate Tesomet against two rare eating disorders, hypothalamic obesity (HO) and Prader-Willi syndrome (PWS).

US-based RA Capital Management acted as anchor investors in the private placement, which was also subscribed for by Pontifax Venture Capital and New Leaf Venture Partners together with other American and international biotech sector specialists. The offer also attracted three Swedish National Pension Funds, the Second AP Fund, the Third AP fund, and the Fourth AP fund.

The new shares were issued at a subscription price of USD 2.12 per share (SEK18.50), thus representing a discount of approximately 45 percent to the current share price at the time of the transaction.

Today, BioStock was joined by Rami Levin, CEO of Saniona on link from Boston.

Click on the picture below to see the whole interview with Rami Levin.

The content of BioStock’s news and analyses is independent but the work of BioStock is to a certain degree financed by life science companies. The above article concerns a company from which BioStock has received financing.

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