BERGEN, Norway, May 5, 2020 /PRNewswire/ -- BerGenBio ASA
(OSE: BGBIO), a clinical-stage biopharmaceutical company developing
novel, selective AXL kinase inhibitors for unmet medical need, is
pleased to announce that it has raised NOK500m (gross) (€45.4 million) via an over
subscribed Private Placement that took place via an accelerated
book building process after close of market on 4 May 2020. The Offering was made through the
allocation of 13,325,000 shares at a subscription price of
NOK 37.50 per share.
BerGenBio intends to use the net proceeds from the Private
Placement to take full advantage of clinical development
opportunities stemming from the Company's technology and to
progress readiness for early commercialisation possibilities, as
well as for general corporate purposes.
Richard Godfrey, Chief
Executive Officer of BerGenBio, commented: "We are delighted
with this financing and the demand for our shares. I'd like to
thank our current loyal shareholders for their continued support of
BerGenBio and welcome our new international investors to the
register. This new investment will allow us to expand the clinical
development potential of our AXL drug candidates to treat patients
with serious aggressive diseases without any effective treatment
option. There is growing scientific evidence to support our
confidence and belief in our pipeline underlined by the UK
Government's recent request to test bemcentinib in the ACCORD study
in COVID19 patients. The potential broad applicability of
bemcentinib is extremely exciting for our staff and shareholders
and patients alike."
Arctic Securities AS, Carnegie AS and DNB Markets, a part of DNB
Bank ASA acted as Joint Bookrunners on the transaction.
About BerGenBio
BerGenBio is a clinical-stage biopharmaceutical company focused
on developing transformative drugs targeting AXL as a potential
cornerstone of therapy for aggressive diseases, including
immune-evasive, therapy resistant cancers. The company's
proprietary lead candidate, bemcentinib, is a potentially
first-in-class selective AXL inhibitor in a broad Phase II oncology
clinical development programme focused on combination and single
agent therapy in lung cancer and leukaemia. A first-in-class
functional blocking anti-AXL antibody, tilvestamab, is undergoing
Phase I clinical testing. In parallel, BerGenBio is developing
companion diagnostic tests to identify those patient populations
most likely to benefit from bemcentinib: this is expected to
facilitate more efficient registration trials supporting a
precision medicine-based commercialisation strategy.
BerGenBio is based in Bergen, Norway with a subsidiary
in Oxford, UK. The company is listed on the Oslo Stock
Exchange (ticker: BGBIO). For more information,
visit www.bergenbio.com
Forward looking statements
This announcement may contain forward-looking statements,
which as such are not historical facts, but are based upon various
assumptions, many of which are based, in turn, upon further
assumptions. These assumptions are inherently subject to
significant known and unknown risks, uncertainties and other
important factors. Such risks, uncertainties, contingencies and
other important factors could cause actual events to differ
materially from the expectations expressed or implied in this
announcement by such forward-looking statements.
For more information, please contact
Richard Godfrey
CEO, BerGenBio ASA
+47-917-86-304
Rune Skeie
CFO, BerGenBio ASA
rune.skeie@bergenbio.com
+47-917-86-513
International Media Relations
Mary-Jane Elliott, Chris
Welsh, Lucy Featherstone,
Carina Jurs
Consilium Strategic Communications
bergenbio@consilium-comms.com
+44-7780-600290
Media Relations in Norway
Jan
Petter Stiff
Crux Advisers
stiff@crux.no
+47-995-13-891
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