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Hansa Medical announces fully underwritten SEK 246 million rights issue

23 Feb 2015, 08:30
Regulatory information
The Board of Hansa Medical has decided on a rights issue which will provide the company with SEK 246 million before deduction of costs. The rights issue is fully guaranteed by subscription undertakings and underwriting. 

Important information
The information in this press release is not directed at persons located in Australia, Canada, Hong Kong, Japan, New Zealand, the Republic of Korea, Singapore, South Africa, Switzerland, the United States or any other country where the offer or sale of subscription rights, interim shares or new shares is not permitted. The information may not be published or distributed, directly or indirectly, in or into, any of the aforementioned countries or any other country where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, other offer documentation, registrations or other actions in addition to what follows from Swedish law. Nor may the information be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or gives cause to such requirements. Failure to comply with these instructions may result in a violation of the United States Securities Act of 1933, as amended (“Securities Act”) or laws applicable in other jurisdictions.

The information in this press release does not contain or constitute an invitation or an offer to acquire, sell, subscribe for or otherwise trade in shares, subscription rights or other securities in Hansa Medical AB. No subscription rights, interim shares or new shares will be registered under the Securities Act or in accordance with any other rules or regulations in any other country than Sweden and may not be transferred or offered for sale in the United States or any country where such transfer or offer may be prohibited, or to persons resident in any such country or on account of such persons, other than pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act or similar legislation in another country, respectively.

The Board of Hansa Medical AB (publ) has decided, pursuant to an authorisation by the 2014 annual general meeting, to issue at most 6,482,400 new shares with pre-emptive rights for current shareholders to subscribe for new shares at a subscription price of SEK 38 per share. The issue will provide Hansa Medical with approx. SEK 246 million before deduction of issue related costs. Nexttobe AB has committed to subscribe and pay for its pro rata share of the rights issue.

The proceeds from the issue will be used for financing pivotal development activities regarding IdeS, preclinical development of second generation IdeS and evaluate development opportunities for EndoS.

Shareholders will receive one subscription right per share in Hansa Medical held on the record date. Four subscription rights entitle to the subscription of one new share during the subscription period, which commences on 19 March 2015 and terminates on 2 April 2015.

Important dates
13 March 2015                    Last day of trading incl. right to subscription
17 March 2015                    Record date for receiving subscription rights
19 March 2015                    Subscription period commences
23 March 2015                    Annual report for 2014 published
31 March 2015                    Last day of trading in subscription rights
2 April 2015                         Subscription period terminates
8 April 2015                         Outcome of the rights issue is communicated, allotment is resolved
13 April 2015                       Last day for payment of shares subscribed for without subscription rights

Further information about the issue and the company will be included in a prospectus, which will be published on or before 18 March 2015. Publishing of the company’s annual report has been postponed from 2 March 2015 to 23 March 2015.

Carnegie Investment Bank AB is financial advisor to Hansa Medical AB.

About IdeS
IdeS, a unique molecule with a novel mechanism, is a bacterial enzyme that cleaves human IgG antibodies. IdeS degrades all IgG specifically, swiftly and efficiently. IdeS has been tested for safety and efficacy in numerous in vitro and in vivo models. During 2013, a Phase I clinical trial on 29 healthy subjects was conducted, demonstrating IdeS as efficacious and well tolerated with a favorable safety profile. During 2014 and 2015, a Phase II clinical trial in sensitized patients awaiting kidney transplantation has been conducted. Preliminary data shows that IdeS has very good efficacy in highly sensitized patients on the kidney transplant waitlist. The study shows that IdeS has the capacity to make sensitized patients eligible for transplantation by decreasing HLA antibodies to levels acceptable for transplantation. In addition to transplantation, IdeS has potential indications within a variety of rare autoimmune diseases including anti-GBM disease. IdeS is protected by several patents and has been published in numerous peer review journals.

The information in this press release is disclosed pursuant to the Securities Markets Act or the Financial Instruments Trading Act. The information was released for public disclosure on February 23, 2015 at 08.30.

For further information, please contact:
Hansa Medical AB
Fredrik Lindgren, President and CEO
Mobile: 46 705 61 61 77

About Hansa Medical AB
Hansa Medical is a biopharmaceutical company focused on novel immunomodulatory enzymes. Lead project IdeS is an antibody-degrading enzyme in clinical development, with potential use in transplantation and rare autoimmune diseases. Other projects include HBP (a market introduced diagnostic marker for severe sepsis) and EndoS (an antibody-modulating bacterial enzyme in pre-clinical development). The company is based in Lund, Sweden. Hansa Medical's share (HMED) is listed on NASDAQ First North in Stockholm with Remium Nordic AB as Certified Adviser. Major shareholders are Farstorps Gård AB and Nexttobe AB.