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May 2022
synact pharma
Joint Global Coordinator & Joint Bookrunner
SEK 150 million
Rights Issue

SynAct Pharma

Joint Global Coordinator and Joint Bookrunner

Kempen & Co acted as Joint Global Coordinator & Joint Bookrunner to SynAct Pharma in its SEK 150m Fully Guaranteed Rights Issue.

Transaction highlights

  • Rights Issue of 2,364,208 new shares at a subscription price of SEK 63 per share, generating gross proceeds of c. SEK 150m
  • SynAct intends to use the net proceeds for conducting additional clinical development with its lead product AP1189 in rheumatoid arthritis and other indications. 
  • The rights issue was fully subscribed for through a combination of subscription commitments, subscription with and without subscription rights and guarantee commitments from external investors
  • The transaction marks the first transaction where Kempen & Co has assisted a Life Sciences company with a so-called “Guaranteed Rights Issue”, thereby creating deal certainty for its clients even in very difficult market circumstances, and underpinning our ambition to serve our clients with a wide variety of tailormade financing structures

Company description

SynAct is a publicly listed Swedish biotech focused on the development of novel and first in class agonists that target the melanocortin system, which plays a pivotal role in controlling inflammatory responses. Lead candidate, AP1189, selectively stimulates the melanocortin receptors involved in anti-inflammatory and pro-resolution effects without causing immunosuppression and is studied in rheumatoid arthritis, nephrotic syndrome, and COVID-19 induced acute respiratory stress syndrome.

Background Kempen & Co Life Sciences & Healthcare

In the last twelve months, Kempen & Co has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:

  • Co-Manager in the USD 700 million Capital Increase by argenx
  • Sole Block Placing Agent in the placement of 1.4m Molecular Partners shares
  • Joint Bookrunner in the USD 127 million Nasdaq IPO of Forbion European Acquisition Corp
  • Co-Lead Manager in the USD 115 million Nasdaq Initial Public Offering by IO Biotech
  • Lead manager in the USD 127 million Global Offering of Merus
  • Joint Global Coordinator and Joint Bookrunner in the €31.5 million Euronext IPO by MaaT Pharma
  • Co-Manager in the USD 460 million Capital Increase by Ascendis Pharma
  • Joint Bookrunner in the SEK 324 million Capital Increase by Calliditas Therapeutics
  • Joint Global Coordinator & Joint Bookrunner in the SEK 380 million Capital Increase by Xbrane Biopharma
  • Joint Global Coordinator in the €34.1m Capital Increase by Transgene
  • Joint Global Coordinator & Joint Bookrunner in the SEK 141 million Capital Increase by Immunicum
  • Lead Manager in the USD 63.8 million Nasdaq Initial Public Offering by Molecular Partners
  • Joint Bookrunner in the SEK 301 million Capital Increase by Q-linea

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