Nordic Life Science 1
PHOTO UP THERE, EVERYWHERE AB PHOTO FINANCING LIF
E SCIENCE EXAMPLE NEW SHARE ISSUE Athera Biotechnologies announced the closing of a new share issue in May, raising in total SEK 55 million from current major shareholders including Industrifonden and Östersjöstiftelsen, together with new shareholders from the Sciety network of investors. Carina Schmidt, CEO, Athera We select promising companies and fund them for further growth,” says Andreas Lindblom, CEO at Sciety when describing their work. developing a candidate for indications within cardiovascular disease, where current treatment is insufficient. Following completion of three Phase 1 studies, it has now raised the capital for completion of a clinical Proof-of-Concept Phase 2 study, with the aim to close an agreement with a larger pharmaceutical company once the study is complete. Current major shareholders Industrifonden, Linc AB and Östersjöstiftelsen participated in the issue of new shares to finance the study. Sciety, a corporate finance firm specializing in life science, supported the process to raise the capital with the introduction of new investors from the Sciety-network. “We want innovations that make a difference to reach their full potential. “Athera Biotechnologies is targeting a niche indication with high unmet need, while enabling further development for several broader cardiovascular disease indications. The first-in-class potential, strong IP protection, and drug development experience of the management and major shareholder is what attracted us to fund Athera,” he says. “Athera decided to work with Sciety for their effective process to raise capital, combined with their competence in life sciences and a strong investor network. With the help of Sciety we could complete the new issue of shares in a short time. Both management and major shareholders are very pleased with the collaboration,” says Carina Schmidt, CEO at Athera Biotechnologies. NLS NORDICLIFESCIENCE.ORG 47