Van Lanschot Kempen acted as Joint Global Coordinator and Joint Bookrunner in Cantargia’s SEK 59m directed share issue.
Transaction highlights
SEK 59.3m directed share issue via club deal with a selected group of local and international investors, representing a c. 9% capital increase
The new shares were issued at SEK 3.55 per new share, corresponding to the volume-weighted average share price on Nasdaq Stockholm on 30 October 2023
The transaction received strong support from Swedish and international investors including certain existing shareholders, notably the Fourth Swedish National Pension Fund (AP4), the First Swedish National Pension Fund (AP1) and Alecta Tjänstepension
The company intends to use the issue proceeds to finance (i) preparative work for the phase 2b trial in PDAC for nadunolimab, and (ii) general corporate purposes and the extension of its cash runway into 2025
The transaction represents Van Lanschot Kempen’s fifth ECM transaction for a Nordic company in 2023, underpinning the ability of Van Lanschot Kempen to support healthcare companies in the region.
Company description
Cantargia is a Swedish biotechnology company that specializes in the development of pharmaceuticals for various types of cancer and inflammatory/autoimmune diseases. Its development programme includes the candidate drugs nadunolimab (CAN04) and CAN10, both in clinical development stage, as well as its antibody platform CANxx.
Background Van Lanschot Kempen Life Sciences & Healthcare
In the last twelve months, Van Lanschot Kempen has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:
Joint Global Coordinator and Joint Lead Bookrunner in the NOK 505 million Capital Increase by Nykode
Sole Financial Adviser in the SEK 120 million Structured Equity transaction by SynAct Pharma
Lead Manager in the USD 1.3 billion Capital Increase by argenx
Joint Bookrunner in the SEK 500 million Capital Increase by Vicore Pharma
Financial Adviser to NewAmsterdam Pharma in the USD 182 million secondary sell-down by existing investors
Joint Global Coordinator & Joint Bookrunner in the EUR 25 million Capital Increase by Vivoryon Therapeutics
Joint Global Coordinator & Joint Bookrunner in the EUR 16 million Capital Increase by Sequana Medical
Lead Manager in the DKK 1.5 billion Capital Increase by Zealand Pharma
Capital Markets Advisor & Placement Agent in the Merger between European Biotech Acquisition Corp. and Oculis SA and the connected USD 91 million PIPE
Lead Manager in the USD 250 million Capital Increase by CureVac
Sole Financial Adviser to GenSight Biologics in securing a EUR 12 million Credit Facility from Heights Capital Management
Joint Global Coordinator and Joint Bookrunner in the SEK 416 million Capital Increase by Hansa Biopharma
Sole Financial Adviser in SynAct Pharma’s acquisition of TXP Pharma and Joint Global Coordinator & Joint Bookrunner in SynAct Pharma’s SEK 80 million PIPE
Joint Bookrunner in the SEK 200 million Capital Increase by Vicore Pharma
Joint Global Bookrunner in the SEK 148 million Fully Guaranteed Rights Issue by Biovica
Sole Financial Adviser to GenSight Biologics in securing a EUR 35 million Credit Facility from the European Investment Bank
Joint Global Coordinator & Joint Bookrunner in the SEK 170 million Capital Increase by Xbrane Biopharma
Co-Lead Manager in the DKK 786 million Capital Increase by Zealand Pharma