Oslo, Norway 18 December 2024 - Circio Holding ASA (OSE: CRNA), a biotechnology company developing powerful circular RNA technology for next generation nucleic acid medicine, today announces that it has secured approx. NOK 10.7 million in financing to support the development of its unique and powerful circVec circular mRNA technology.

Reference is made to two separate announcements made by Circio Holding ASA on 18 December 2024 regarding i) exercise of warrants and ii) allocation of available warrants and completion of a private placement

"Following the recently published circVec 3.0 generation data, Circio has experienced very strong warrant exercise demand, both from existing and new shareholders. In order to satisfy some of the additional interest and allow allocation to two new experienced biotech investors, the offering was upsized with a parallel private placement" said Dr. Erik D Wiklund, CEO at Circio. "The additional funding will allow Circio to further accelerate the development of the circVec platform, with the aim of securing our first partnership during 2025. In addition, we now have a strengthened cap-table to support the company long-term, and a reduced need to draw future tranches from Atlas."  

The major allocations in the financing were to existing shareholders Høse AS and Bækkelaget Holding AS, and new shareholders Star Kapital AS (v/ Tom A Thorsen) and an undisclosed Norwegian investor.

The proceeds will be dedicated to accelerating development of Circio's circVec circular RNA technology to establish in vivo proof-of-concept for the lead gene therapy program, and to expand the platform into a novel cell therapy approach. With the extra funds, Circio expects to defer the need to draw the next Atlas convertible bond tranche by 2-3 months.