BioInvent completes equity financing of app. EUR 157 million over a period of less than one year
BioInvent, a clinical stage company focused on the development of novel, first-in-class immuno-modulatory antibodies for the treatment of cancer, has in March 2021 completed an equity financing of more than SEK 1,5 billion over a period of ten months.
The equity finance consisted of a directed share issue in two tranches of a total of app. SEK 487 million in June 2020, one repair rights issue of SEK 139 million in July 2020, and a directed share issue in two tranches of a total of app. SEK 962 million, completing in March 2021.
Proceeds will fund the expansion of clinical programs. Investors in the directed share issues were a range of international and Swedish institutional investors, both existing and new.
BioInvent was advised by Mannheimer Swartling.
