Vicore Pharma

• Capital increase via accelerated bookbuild offering (“directed share issue”) of 29,875,000 shares, generating gross proceeds of SEK 500m (c. EUR 43m) for Vicore Pharma
• The transaction was launched following a market sounding exercise, which resulted in visibility on indications of coverage in excess of the total deal size prior to launch and the deal being anchored by European and US healthcare specialist investors
• The order book was covered within 45 minutes post launch, being oversubscribed with a wide range of international, institutional, existing and new investors participating, including OrbiMed, Suvretta, HBM, AP4, AP3, Swedbank Robur and SEB 
• On the back of an order book with almost no price sensitivity, the shares were placed at SEK 16.75 per share, representing a limited discount of 1.2% vis-à-vis the closing price prior to transaction announcement 
• Vicore Pharma intends to use the proceeds to finance: (i) a phase 2b trial (ANDAS) evaluating lead asset in idiopathic pulmonary fibrosis (IPF); (ii) a phase 2a study measuring acute effects of lead asset on pulmonary vascular resistance; (iii) the advancement of the ATRAG (angiotensin II type 2 receptor agonists) portfolio; and (iv) general corporate purposes and the extension of the company’s cash runway to Q1 2027
• After the completion of the directed share issuance, Carl-Johan Dalsgaard, CEO of Vicore, commented: “I am delighted to welcome new investors aboard our exciting journey, and I want to express my gratitude to our existing shareholders for their continued support in this transformative financing round. This fundraise further enhances our financial position and enables us to accelerate the development of our clinical pipeline, while securing the financing for the phase 2b ANDAS trial, which was designed to be representative of a pivotal trial. If the AIR trial efficacy is repeated in the ANDAS-study, it can be regarded as significant evidence of effectiveness of our lead drug candidate in IPF.”
• Following our previous involvement as Joint Bookrunner in Vicore Pharma’s December 2022 capital increase, we are proud to have assisted this repeat client raising capital for the second time

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:

• 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 US Public Offering by CureVac
• Sole Financial Adviser to GenSight Biologics in securing a €12.0 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 Accelerated Bookbuild Offering 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 €35.0 million credit facility from the European Investment Bank 
• Joint Global Coordinator & Joint Bookrunner in the SEK 170 million Accelerated Bookbuild offering of Xbrane Biopharma
• Co-Lead Manager in the DKK 786 million Capital Increase by Zealand Pharma
• Financial Advisor in the sale of Sanquin Reagents by Sanquin Health Solutions to Gilde Healthcare
• Financial Advisor in the up to SEK 250 million (convertible) debt financing by Mendus
• Joint Global Coordinator in the SEK 299 million Directed Share Issue by BioInvent
• Sole Global Coordinator in the SEK 200 million financing consisting of a SEK 150m PIPE and a SEK 50 million Fully Guaranteed Rights Issue by Abliva
• Joint Global Coordinator & Joint Bookrunner in the SEK 150 million Fully Guaranteed Rights Issue by SynAct Pharma