Xbrane Biopharma AB (publ) has completed a private placement of shares through an accelerated book building procedure, providing the company with proceeds of approximately SEK 146 million before costs related to the transaction.
The transaction was significantly oversubscribed anddirected to selected Swedish and international institutional investors, among others, TIN Fonder, Swedbank Robur Ny Teknik, Swedbank Robur Medica and STADA Arzneimittel and Serendipity Group.
Xbrane Biopharma AB develops biological drugs based on a platform technology that provides significantly lower production costs compared to competing systems.
The proceeds are intended to, inter alia, be used to finance the Marketing Authorization Application for Xlucane and accelerate the development of the company´s biosimilar candidates on Cimzia® (Xcimzane) and Opdivo® (Xdivane).
Baker McKenzie acted as legal advisor to Xbrane in connection with the transaction. Baker McKenzie’s team consisted of Joakim Falkner, Ian Gulam and Olof Larsson.
Vator Securities AB acted as Global Coordinator and Sole Bookrunner to Xbrane.