Baker McKenzie acted as legal advisor to the financial advisors in connection with PledPharma AB’s (publ) acquisition of Rare Thyroid Therapeutics International AB and PledPharma’s fully guaranteed rights issue. Through the rights issue, PledPharma will receive approximately SEK 200 million before costs related to the rights issue.
PledPharma is an innovative, unique and integrated pharmaceutical drug development company, focusing on improving treatments for diseases with substantial unmet medical need.
Rare Thyroid Therapeutics is a privately held clinical stage research and development company, based in Stockholm, Sweden, specialized in therapies for rare thyroid hormone signaling disorders, a disease area which is currently underserved and where there is a significant unmet medical need.
The purpose of the acquisition is to create a new focused orphan drug development company, dedicated to development and commercialization of therapies for rare diseases.
The proceeds from the rights issue will be used to finance development of the orphan drug candidates Emcitate and Aladote to market approval and initial commercial preparations.
ABG Sundal Collier and Pareto Securites acted as financial advisors in connection with the acquisition and as Joint Bookrunners for the rights issue. Baker McKenzie acted as legal advisor to ABG Sundal Collier and Pareto Securities. Baker McKenzie’s team consisted of Joakim Falkner, Stefan Balazs, Ian Gulam and Johanna Flink.