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Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
THIS PRESS RELEASE MAY NOT BE RELEASED, PUBLICATED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, BELARUS, CANADA, HONGKONG, JAPAN, NEW ZEALAND, RUSSIA, SINGAPORE, SOUTH AFRICA, SWITZERLAND, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTION IN WHOLE OR IN PART, IS SUBJECT TO LEGAL RESTRICTIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER, OR A SOLICITATION OF ANY OFFER, TO BUY OR SUBSCRIBE FOR ANY SECURITIES IN DIAMYD MEDICAL AB (PUBL) IN ANY JURISDICTION. PLEASE REFER TO THE "IMPORTANT INFORMATION" SECTION BELOW.
The prospectus with regards to Diamyd Medical AB's (publ) ("Diamyd Medical" or the "Company") rights issue of approximately SEK 208 million, which was resolved on by the Board of Directors on February 28, 2025, pursuant to the authorization granted by the Company's annual general meeting held on December 5, 2024, (the "Rights Issue") has today been approved and registered by the Swedish Financial Supervisory Authority. The subscription period in the Rights Issue will commence on April 15, 2025.
The prospectus
The prospectus, together with all other information pertaining to the Rights Issue, is held available on the Company's website, www.diamyd.com, as well as on Aqurat Fondkommission's website, www.aqurat.se. The prospectus will also be made available on the Swedish Financial Supervisory Authority's website, www.fi.se.
Summary of the Rights Issue
- The Rights Issue comprises a maximum of 26,024,624 units, of which 747,124 are A-units and 25,277,500 are B-units, corresponding to issue proceeds of approximately SEK 208 million before deduction of related issue costs.
- Shareholders in Diamyd Medical on the record date, April 11, 2025, will for each one (1) held share, regardless of share class, receive one (1) unit right of the same class. Four (4) unit rights will entitle the holder to subscribe for one (1) new unit of the corresponding share class, implying a subscription ratio of 1:4.
- Each A-unit contains one (1) share of series A and one (1) warrant of series TO 5 A and each B-unit contains one (1) share of series B and one (1) warrant of series TO 5 B.
- The subscription price in the Rights Issue has been set to SEK 8.00 per unit. The warrants are issued free of charge.
- Chairman of the Board of Directors and founder, Anders Essen-Möller, has committed to subscribe for units equivalent to SEK 5 million. In addition, CEO Ulf Hannelius has committed to subscribe for his pro rata share corresponding to approximately SEK 0.7 million, CFO Anna Styrud has committed to subscribe for her pro rata share corresponding to approximately SEK 0.3 million, and Vice Chairman of the Board of Directors Erik Nerpin has committed to subscribe for units corresponding to SEK 0.1 million. Furthermore, a number of existing shareholders and an investor consortium led by existing shareholder Patrik Hansen have together committed to subscribe for units in the Rights Issue corresponding to approximately SEK 30.6 million and have also declared their intent to subscribe for additional units corresponding to approximately SEK 7.4 million. In total, the Rights Issue is thus covered by subscription commitments and intentions to subscribe equivalent to approximately SEK 44.1 million, corresponding to approximately 21.2 percent of the Rights Issue.
Timeline for the Rights Issue and subscription
| April 15, 2025 - April 29, 2025 | Subscription period |
| April 15, 2025 - April 24, 2025 | Trading in unit rights of series B (UR B) |
| April 15, 2025 - May 20, 2025 | Trading in paid subscribed B-units (BTU B) |
| April 29, 2025 | Expected announcement of the preliminary outcome |
| April 30, 2025 | Expected announcement of the final outcome |
The subscription period in the Rights Issue will commence on Tuesday, April 15, 2025, and a link to the subscription form will be made available on the Company's and Aqurat Fondkommission's respective websites. Please note that shareholders with nominee-registered holdings subscribe in the Rights Issue, both with and without the support of unit rights, through their nominee.
Exercise price and subscription period for warrants of series TO 5
Two (2) warrants of series TO 5 entitle the holder to subscribe for one (1) new share of the corresponding share class in the Company during the period from and including April 16, 2026, to and including April 30, 2026, at an exercise price of SEK 20.00.
Advisors
G&W Fondkommission acts as Financial Advisor to Diamyd Medical in connection with the Rights Issue. Aqurat Fondkommission AB has been appointed as Issuer Agent.
About Diamyd Medical
Diamyd Medical develops precision medicine therapies to prevent and treat Type 1 Diabetes and LADA (Latent Autoimmune Diabetes in Adults). Diamyd® is an investigational antigen-specific immunomodulatory therapeutic for the preservation of endogenous insulin production specifically for individuals carrying a HLA DR3-DQ2 gene. Diamyd® has been granted Orphan Drug Designation in the U.S. as well as Fast Track Designation by the U.S. FDA for the treatment of Stage 3 (clinically diagnosed symptomatic) Type 1 Diabetes. Diamyd® has also been granted Fast Track Designation for the treatment of Stage 1 and 2 (pre-symptomatic) Type 1 Diabetes. DIAGNODE-3, a confirmatory Phase III trial is actively recruiting patients with recent-onset (Stage 3) Type 1 Diabetes at 60 clinics in eight European countries and in the US. Significant results in preserving endogenous insulin production have previously been shown in a large genetically predefined patient group - both in a largescale meta-analysis as well as in the Company's prospective European Phase IIb trial. The DIAGNODE-3 trial is recruiting only this patient group that carries the common genotype known as HLA DR3-DQ2, which constitutes approximately 40 % of patients with Type 1 Diabetes in Europe and the US. A biomanufacturing facility is under development in Umeå, Sweden, for the manufacture of recombinant GAD65 protein, the active ingredient in the antigen-specific immunotherapy Diamyd®. Diamyd Medical is a major shareholder in the stem cell company NextCell Pharma AB and in the artificial intelligence company MainlyAI AB.
Diamyd Medical's B share is traded on Nasdaq First North Growth Market under the ticker DMYD B. FNCA Sweden AB is the Company's Certified Adviser.