Beskrivning
Land | Norge |
---|---|
Lista | Euronext Growth Oslo |
Sektor | Hälsovård |
Industri | Bioteknik |
2022-03-15 06:36:52
Oslo, Norway, March 15, 2022 - Lytix Biopharma AS (the Company), a
clinical-stage company with an in situ vaccination technology platform,
announces today that 1,329,306 warrants giving rights to 1,329,306 shares have
been exercised by PBM LYT Holdings, LLC ("PBM LYT"), an affiliate of PBM Capital
Group, LLC ("PBM"). Following the registration of the new shares pursuant to the
exercise, the number of outstanding shares in Lytix Biopharma will be 40,068,319
shares. Reference is made to the warrants issued by the Company's General
Meeting on June 7, 2021 with a subscription price per share of NOK 0.1 and with
an expiry date of June 6, 2022 (the "Warrants").
In June 2021, Lytix Biopharma successfully completed a private placement and
national offering, raising gross proceeds of approximately NOK 225 million. The
private placement and national offering attracted strong interest from existing
shareholders and new investors, both in Norway, Sweden, and the US. After the
successful completion of the private placement and
national offering, Lytix listed its shares on Euronext Growth Oslo. PBM LYT
pre-committed for NOK 42.5 million in the private placement and was awarded
warrants equal to 56.3 per cent of the number of shares subscribed for by PBM
LYT. The precommitment by PBM LYT, was very important for the successful
completion of the private placement, and thus the financing of the Company's
activities. Further, the Company held the opinion that PBM LYT, as a shareholder
in the Company, would provide additional value to the Company given PBM's broad
contact network, experience and expertise in the biotech industry, as well as
reputation and standing in the US capital markets.
For more information, please contact:
Øystein Rekdal, CEO: +47 975 73 358
Gjest Breistein, CFO: +47 952 60 512
Lytix in brief: Based in Oslo, Norway, Lytix Biopharma is a clinical stage
biotech company developing novel cancer immunotherapies, an area within cancer
therapy that is aimed at activating the patient's immune system to fight cancer.
The Company's technology is based on pioneering research in "host defense
peptides" - nature's first line of defense towards foreign pathogens. Lytix
Biopharma's lead product, LTX-315, is a first-in-class oncolytic molecule
representing a new and superior in situ therapeutic vaccination principle to
boost anti-cancer immunity, with the potential to be the ideal combination
partner with other types of immunotherapy. LTX-315 target cancer cells and
disintegrate their cell membranes, causing immunogenic cell death and release of
a patient's tumor specific antigens. This mode of action allows cytotoxic T
cells to recognize, infiltrate, and attack cancer cells. The Company was listed
on Euronext Growth in Oslo in June 2021, following a private placement covered
by investors such as PBM Capital, a US based, healthcare-focused investment
firm.