Biovica AB (publ) has completed a private placement of Class B shares through an accelerated book building procedure, performed by Paretos Securities AB, raising approximately SEK 148 million before transaction costs.
Biovica develops and commercializes blood-based biomarker assays to evaluate efficacy of cancer treatments.
The proceeds from the private placement will be used to finance (i) DiviTum’s® market launch in USA, EU-5, Nordics and Japan (75%), (ii) development of technology and patent portfolio (15%), and (iii) the clinical study program to extend regulatory approval, support uptake in clinical guidelines and reimbursement (10%).
A number of Swedish and international institutional investors participated in the private placement, including AP2 (Second AP Fund), Coeli Asset Management and Lancelot Asset Management.
Baker McKenzie acted as legal advisor to Biovica. Baker McKenzie’s team consisted of Joakim Falkner, Johanna Flink and Ian Gulam. Pareto Securities acted as Sole Manager and Bookrunner in connection with the transaction.