DUBLIN Swedish start-up Cantargia AB is seeking about SEK44.1 million (US$5.4 million) in an initial public offering (IPO) on the Nasdaq OMX First North exchange, the Nordic region's junior exchange, in order to take forward a new therapeutic concept in cancer.
The IPO comprises 5.8 million shares, priced at SEK7.60 per share. The subscription period runs from Jan. 27 through Feb. 12. Investors who participate in the transaction will also receive warrants that will enable them to participate in a series of follow-on offerings planned for 2016, through which the company plans to raise an additional SEK55.1 million.
"Hopefully, if we're doing things right, they'll be motivated to continue, and we won't have to spend a lot of energy during a critical part of the development process," Cantargia CEO Göran Forsberg told BioWorld