Vicore Pharma resolves on directed share issues and publish notice for an extraordinary shareholders’ meeting

2017-02-23 | Regulatory

The Board of Directors of Vicore Pharma Holding AB has resolved on two directed share issues, one pursuant to authorization from the general annual meeting in 2016 comprising two million shares and a second subject to approval by the extraordinary shareholders’ meeting comprising one and a half million shares.

NOT FOR DISTRIBUTION OR PUBLIC RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH MEASURES WOULD BE IN VIOLATION OF APPLICABLE REGULATIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER, OR A SOLICITATION OF ANY OFFER, TO BUY OR SUBSCRIBE FOR ANY SECURITIES IN VICORE PHARMA IN ANY JURISDICTION.

This press release has also been published in Swedish on February 23rd at 8.30 CET.

The Board of Directors of Vicore Pharma Holding AB has resolved on two directed share issues, one pursuant to authorization from the general annual meeting in 2016 comprising two million shares and a second subject to approval by the extraordinary shareholders’ meeting comprising one and a half million shares. Both share issues are directed to an international healthcare specialist investor together with several Swedish institutional investors. Shareholders representing approximately 63% of the shares and votes in Vicore Pharma Holding have committed to vote in favour of the share issue at the forthcoming extraordinary shareholders meeting.

  • The Board of Directors of Vicore Pharma Holding AB (publ) (”Vicore Pharma” or the “Company”) has resolved on two directed share issues, one pursuant to authorization from the general annual meeting in 2016 comprising two million shares (”Tranche 1”) and a second issue subject to approval by the extraordinary shareholders meeting comprising one and a half million shares, (”Tranche 2”), in total approximately SEK 56 million (the ”Share Issues”).
  • The subscription price for the Share Issues is set at SEK 16 per share.
  • The Share Issues are directed at an international healthcare specialist investor and several reputable Swedish institutional investors.
  • Shareholders representing approximately 63% of the shares and votes in Vicore Pharma Holding have committed to vote in favour of Tranche 2 at the forthcoming extraordinary shareholders meeting.
  • The Board of Directors of the Company has today published a notice for an extraordinary shareholders meeting to resolve on Tranche 2 (see separate press release containing the notice for complete information) to be held on March 27, 2017. (the “Extraordinary shareholders meeting”).
  • The proceeds from the Share Issues will primarily be used for the clinical development of C21 through Phase Ib for idiopathic pulmonary fibrosis (IPF). The proceeds are also expected to suffice for the financing of a clinical formulation for C21, interaction studies, a longer toxicity study and a conceptual clinical study in diabetes.

Background and reasons

To accelerate the clinical development of Vicore Pharma’s lead drug candidate C21 for the treatment of idiopathic pulmonary fibrosis (IPF) and other forthcoming clinical studies the Board of Directors has decided on the Share Issues. The proceeds from the Share Issues will primarily be used for the development of C21 and on the condition that both share issues are executed, the proceeds are expected to suffice to bring C21 through Phase Ib for IPF. The Share Issues are also expected to finance the development of a solid clinical formulation for C21, interaction studies, a longer toxicity study and conceptual clinical study in diabetes. The Share Issues will also allow for company to secure a larger owner share for Swedish and international institutional investors. Collectively, the financial impetus realized through the planned share issues allow for the company technology to be evaluated in Phase II studies for disease areas where there is currently a void for effective treatment.

We are extremely happy that our technology has demonstrated so convincing results and has reached such level of maturity that it now attracts capital from international institutional investors with the qualified requirements such investors put up on their investment objects. It is our strong belief that the new shareholders will benefit the company substantially and thereby also bring value to the current shareholders in the company” says Göran Wessman, chairman of the Board of Directors in Vicore Pharma Holding”

On the operational plane the projected financial reinforcement and the new shareholders allow us to execute a strong development plan which will further increase the interest for the company’s drug technology” says Per Jansson, Managing Director in Vicore Pharma.

The Share Issues

The Board of Directors has resolved on two directed share issues, one comprising two million shares and the second comprising one and a half million shares, in total three and a half million shares. Tranche 1 has been fully subscribed and will be paid on February 27, 2017 and Tranche 2 requires approval on the forthcoming extraordinary shareholders meeting but will, according to entered agreements, be fully subscribed, foremost by an international healthcare specialist investor and several reputable Swedish institutional investors. A large portion of the new shares will be subscribed for by one of Europe’s largest and most renowned healthcare specialist investors. The subscription price has been set at SEK 16 and has been determined through a so called private placement procedure. Shareholders representing approximately 63% of the shares and votes in Vicore Pharma Holding including Protem Wessman, Pomona-gruppen AB, Mikael Lönn, Kjell Stenberg, Eriksam Invest AB, Göran Wessman and Per Jansson have in writing undertaken to vote in favour of Tranche 2 at the forthcoming extraordinary shareholders meeting.

The reasons for the deviation from the shareholders’ pre-emption rights are that the Company shall, in a timely manner, be able to secure the Company’s capital need for the operations, as well as to broaden the ownership structure of the Company with strategic and institutional investors , which is also supported by the Company’s largest shareholders, who are not participating in the issue. Through the Share Issues the share capital will increase by SEK 1,750,000 to SEK 7,934,251.92, a 22% dilution of the amount of shares and votes. The extraordinary shareholders meeting will be held on March 27, 2017 in Mölndal.

The total proceeds from the Share Issues will amount to SEK 56 million before issue costs.

Approximately 180,000 shares will be issued to Recall Capital as a repayment step in respect of the loan which the Company informed of in January 2017. Through this repayment the loan agreement between Vicore Pharma and Recall Capital will be terminated and the shares that Protem Wessman lent Recall Capital will be returned.

For more information in respect of the extraordinary shareholders meeting and the investors who are entitled to subscribe please refer to the separate press release containing the notice for the Extraordinary shareholders’ meeting.

Advisors

Vicore Pharma Holding has in conjunction with the transactions engaged Zonda Partners as advisor, Carnegie Investment Bank as financial advisor and Vinge as legal advisor.

For further information, please contact:
Göran Wessman, chairman of the Board of Directors
Tel: +46 (0)708-16 14 50 or e-mail: goran.wessman@vicorepharma.com

Per Jansson, Managing Director
Tel: +46 (0)709-17 47 46 or e-mail: per.jansson@vicorepharma.com

About Vicore Pharma Holding AB (publ)
Vicore Pharma is a clinical stage biopharmaceutical company. The company develops pharmaceuticals acting on the so called AT2 receptor. The company vision is to establish selective agonists to the AT2 receptor as a new and efficatious class of drugs for serious disease. The first drug candidate named C21 is focused on the treatment of idiopathic pulmonary fibrosis, a severe lung disease. For further information please view www.vicorepharma.com

This information is such information that Vicore Pharma 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 8:30 am CET on February 23, 2017.

The Vicore Pharma Holding share is listed on Nasdaq Stockholm First North and trades under the ticker VICO. The company´s Certified Adviser is Redeye AB

Vicorepharma

On vicorepharma.com, we use so-called cookies to analyze how our website is used in order to optimize and improve it. You choose yourself whether you want to consent to our use of cookies.

Vicorepharma is responsible for placing cookies on the website and for the processing of your personal data collected by them. For more information about our processing of your personal data, see our privacy policy

Cookie policy

Your consent applies to the following domain: vicorepharma.com
The cookie policy was last updated: 2023-01-24

Privacy Policy

Show the cookies used on our website

Necessary cookies is needed in order for the website's basic functions to work correctly and for us to be able to save your choice of cookies.

  • cookies_set

    Purpose: Saves the visitor’s choice of cookies.
    Issued by: mk cookie master
    Lifespan: 1 year

    Domain: vicorepharma.com

  • selected_cookies

    Purpose: Saves the visitor’s choice of cookies.
    Issued by: mk cookie master
    Lifespan: 1 year

    Domain: vicorepharma.com

Marketing cookies is used to track visitors on the website. The intention is to show ads that are relevant and engaging to the individual user and thus be more valuable to publishers and third-party advertisers.

  • AMP_TOKEN

    Purpose: Contains a token that can be used to retrieve a unique user ID.
    Issued by: AMP
    Lifespan: 1 year

    Domain: vicorepharma.com

  • _fbp

    Purpose: Used to store and track visits across websites.
    Issued by: Facebook
    Lifespan: 3 months

    Domain: vicorepharma.com

  • _gac_

    Purpose: Used to store and track audience reach.
    Issued by: Google Ads
    Lifespan: 90 days

    Domain: vicorepharma.com

  • _lfa

    Purpose: Used to store and track audience reach.
    Issued by: Leadfeeder
    Lifespan: 2 years

    Domain: vicorepharma.com

  • _lfa_test_cookie_stored

    Purpose: Used to test if _lfa was stored.
    Issued by: Leadfeeder
    Lifespan: 1 day

    Domain: vicorepharma.com

Statistical cookies helps the website owners to understand how visitors interact with the website by collecting and report this information.

  • _clck

    Purpose: Used to store a unique user ID.
    Issued by: Microsoft Clarity
    Lifespan: 1 year

    Domain: vicorepharma.com

  • _clsk

    Purpose: Used to store and combine pageviews by a user into a single session recording.
    Issued by: Microsoft Clarity
    Lifespan: 1 day

    Domain: vicorepharma.com

  • _ga

    Purpose: Used to understand how visitors’ navigate around the website.
    Issued by: Google Analytics
    Lifespan: 2 years

    Domain: vicorepharma.com

  • _gat

    Purpose: Used to throttle request rate. If Google Analytics is deployed via Google Tag Manager, this cookie will be named _dc_gtm_.
    Issued by: Google Analytics
    Lifespan: 1 minute

    Domain: vicorepharma.com

  • _gid

    Purpose: Used to understand how visitors’ navigate around the website.
    Issued by: Google Analytics
    Lifespan: 1 day

    Domain: vicorepharma.com

  • _hjAbsoluteSessionInProgress

    Purpose: Used to store unique visits.
    Issued by: Hotjar
    Lifespan: 30 minutes

    Domain: vicorepharma.com

  • _hjFirstSeen

    Purpose: Used to identify a new visitors’ first session.
    Issued by: Hotjar
    Lifespan: Session

    Domain: vicorepharma.com

  • _hjid

    Purpose: Used to store a unique user ID.
    Issued by: Hotjar
    Lifespan: 1 year

    Domain: vicorepharma.com

  • _hjIncludedInPageviewSample

    Purpose: Used to check if the visitor is included in the data sample defined by the site’s daily pageview limit.
    Issued by: Hotjar
    Lifespan: 30 minutes

    Domain: vicorepharma.com

  • _hjIncludedInSessionSample

    Purpose: Used to check if the visitor is included in the data sample defined by the site’s daily session limit.
    Issued by: Hotjar
    Lifespan: 30 minutes

    Domain: vicorepharma.com

  • _hjSessionUser{site_id}

    Purpose: Used to store a unique user ID.
    Issued by: Hotjar
    Lifespan: 1 year

    Domain: vicorepharma.com

  • _hjSession{site_id}

    Purpose: A cookie that holds the current session data.
    Issued by: Hotjar
    Lifespan: 30 minutes

    Domain: vicorepharma.com

  • _hjTLDTest

    Purpose: Used to check if cookies can be loaded on the site and is removed shortly afterward.
    Issued by: Hotjar
    Lifespan: Session

    Domain: vicorepharma.com

What are cookies?

A cookie is a small text file that is placed on your device (computer/mobile/tablet that has access to the internet) by the website you visit – if you give your consent to this. The cookie can, for example, recognize you as a user when you visit our website and make it possible to remember important information that makes your visit more comfortable and provides an improved user experience. Cookies are so-called passive files that cannot spread dangerous software or viruses on your mobile device or computer.

 

There are two types of cookies, permanent cookies and session cookies. At vicorepharma.com we use both permanent cookies and session cookies. Permanent cookies are saved as a file on the computer for a certain time until the server that placed them, or you as a visitor choose to delete them. Session cookies are temporarily stored when you as a visitor are on the website and disappear when you close your browser.

 

Cookies can also be divided into first-party cookies and third-party cookies. First-party cookies are placed by the website you are visiting, while third-party cookies are placed by another website. At vicorepharma.com, we use both first-party cookies and third-party cookies.

 

How to avoid cookies

When you visit our website, you can refuse all or certain types of cookies. You can also withdraw or change your consent at any time by clicking here.

 

You can also block cookies by changing the settings in your browser. Then your browser will automatically refuse cookies or inform you when a website requests to store cookies.

 

After your visit, you can review and delete the permanent cookies that have been stored in your browser. In the list below, you will see the name of the cookies vicorepharma.com saves so that you can easily identify them.

 

Here you will find more information about how to manage cookies in your browser:

 

Cookies used by third parties

On vicorepharma.com there may be content that is embedded from YouTube. YouTube places cookies in your browser when you visit youtube.com or when you click on embedded content from YouTube on our website. vicorepharma cannot control these cookies or the personal data and information that may be collected. vicorepharma does not use the targeted marketing services offered by YouTube. As a user, you therefore need to check YouTube’s website for further information on how they manage cookies, what information they collect and how you can delete any third-party cookies.

Necessary cookies is needed in order for the website's basic functions to work correctly and for us to be able to save your choice of cookies.

  • cookies_set

    Purpose: Saves the visitor’s choice of cookies.
    Issued by: mk cookie master
    Lifespan: 1 year

    Domain: vicorepharma.com

  • selected_cookies

    Purpose: Saves the visitor’s choice of cookies.
    Issued by: mk cookie master
    Lifespan: 1 year

    Domain: vicorepharma.com

Marketing cookies is used to track visitors on the website. The intention is to show ads that are relevant and engaging to the individual user and thus be more valuable to publishers and third-party advertisers.

  • AMP_TOKEN

    Purpose: Contains a token that can be used to retrieve a unique user ID.
    Issued by: AMP
    Lifespan: 1 year

    Domain: vicorepharma.com

  • _fbp

    Purpose: Used to store and track visits across websites.
    Issued by: Facebook
    Lifespan: 3 months

    Domain: vicorepharma.com

  • _gac_

    Purpose: Used to store and track audience reach.
    Issued by: Google Ads
    Lifespan: 90 days

    Domain: vicorepharma.com

  • _lfa

    Purpose: Used to store and track audience reach.
    Issued by: Leadfeeder
    Lifespan: 2 years

    Domain: vicorepharma.com

  • _lfa_test_cookie_stored

    Purpose: Used to test if _lfa was stored.
    Issued by: Leadfeeder
    Lifespan: 1 day

    Domain: vicorepharma.com

Statistical cookies helps the website owners to understand how visitors interact with the website by collecting and report this information.

  • _clck

    Purpose: Used to store a unique user ID.
    Issued by: Microsoft Clarity
    Lifespan: 1 year

    Domain: vicorepharma.com

  • _clsk

    Purpose: Used to store and combine pageviews by a user into a single session recording.
    Issued by: Microsoft Clarity
    Lifespan: 1 day

    Domain: vicorepharma.com

  • _ga

    Purpose: Used to understand how visitors’ navigate around the website.
    Issued by: Google Analytics
    Lifespan: 2 years

    Domain: vicorepharma.com

  • _gat

    Purpose: Used to throttle request rate. If Google Analytics is deployed via Google Tag Manager, this cookie will be named _dc_gtm_.
    Issued by: Google Analytics
    Lifespan: 1 minute

    Domain: vicorepharma.com

  • _gid

    Purpose: Used to understand how visitors’ navigate around the website.
    Issued by: Google Analytics
    Lifespan: 1 day

    Domain: vicorepharma.com

  • _hjAbsoluteSessionInProgress

    Purpose: Used to store unique visits.
    Issued by: Hotjar
    Lifespan: 30 minutes

    Domain: vicorepharma.com

  • _hjFirstSeen

    Purpose: Used to identify a new visitors’ first session.
    Issued by: Hotjar
    Lifespan: Session

    Domain: vicorepharma.com

  • _hjid

    Purpose: Used to store a unique user ID.
    Issued by: Hotjar
    Lifespan: 1 year

    Domain: vicorepharma.com

  • _hjIncludedInPageviewSample

    Purpose: Used to check if the visitor is included in the data sample defined by the site’s daily pageview limit.
    Issued by: Hotjar
    Lifespan: 30 minutes

    Domain: vicorepharma.com

  • _hjIncludedInSessionSample

    Purpose: Used to check if the visitor is included in the data sample defined by the site’s daily session limit.
    Issued by: Hotjar
    Lifespan: 30 minutes

    Domain: vicorepharma.com

  • _hjSessionUser{site_id}

    Purpose: Used to store a unique user ID.
    Issued by: Hotjar
    Lifespan: 1 year

    Domain: vicorepharma.com

  • _hjSession{site_id}

    Purpose: A cookie that holds the current session data.
    Issued by: Hotjar
    Lifespan: 30 minutes

    Domain: vicorepharma.com

  • _hjTLDTest

    Purpose: Used to check if cookies can be loaded on the site and is removed shortly afterward.
    Issued by: Hotjar
    Lifespan: Session

    Domain: vicorepharma.com

General

Vicore Pharma Holding AB (“Vicore”) shall only process personal data in accordance with applicable data protection law and high industry standards.

 

Personal data.

Vicore processes personal data provided to us;
(i) by you in the day-to-day communications, or

(ii) in connection with entering into or performing an agreement or business arrangement with you, or
(iii) by a third party allowed by law or your consent.

The personal data may consist of contact and identification details and other information relevant to the situation.

 

Purpose.

Vicore process personal data for the purpose of communicating with you and to perform, manage and comply with agreements between us as well as rights and obligations which are allowed by law or applicable regulation.

 

Legal grounds.

The legal grounds for processing personal data is either;
(i) your consent which shall be considered provided when you either voluntary submit the personal data or enter into an agreement with us, or
(ii) a legitimate interest allowed under law.

 

Security

Vicore shall use adequate technical and organisational security measures to protect the personal data from loss and to safeguard against access from unauthorised persons.

Transfers of personal data may only occur;
(i) to third parties who perform services on Vicore behalf and who may only process personal data in accordance with our instructions, and may not use personal data for their own purposes; and
(ii) outside the EU/EEA only in accordance with applicable data protection laws and subject to the EU Commission’s standard contractual clauses, and
(iii) as otherwise permitted by law or your consent.

Duration.

The duration we process personal data is limited to what is reasonable for the purpose of the processing, unless otherwise required or permitted by law.

 

Rights

Vicore is the controller of the personal data processing, meaning that we are responsible for that the personal data is processed correctly and in accordance with applicable data protection laws.

Unless prevented by applicable law, regulation or agreement data subjects have the right to;
(i) know what personal data we process about them,
(ii) request that we rectify or erase inaccurate or incomplete personal data
(iii) object to specific processing of personal data, and
(iv) receive the personal data provided by them and have the personal data transferred to another party responsible for data processing.

All communications with Vicore regarding how we process personal data or exercise of any of your rights can be sent by e-mail to info@vicorepharma.com or by post to the address above.

Reports and complaints can also be directed to Datainspektionen who is the supervisory authority for our processing of personal data.