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Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
THIS PRESS RELEASE MAY NOT BE RELEASED, PUBLICATED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, BELARUS, CANADA, HONGKONG, JAPAN, NEW ZEALAND, RUSSIA, SINGAPORE, SOUTH AFRICA, SWITZERLAND, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTION IN WHOLE OR IN PART, IS SUBJECT TO LEGAL RESTRICTIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER, OR A SOLICITATION OF ANY OFFER, TO BUY OR SUBSCRIBE FOR ANY SECURITIES IN DIAMYD MEDICAL AB (PUBL) IN ANY JURISDICTION. PLEASE REFER TO THE "IMPORTANT INFORMATION" SECTION BELOW.
Diamyd Medical AB ("Diamyd Medical" or the "Company") completed a rights issue on April 30, which, including an extension issue, provides the Company with approximately SEK 224 million before deduction of issue costs (the "Rights Issue"). Diamyd Medical has now decided to increase the Rights Issue by an additional SEK 41.6 million through a directed new issue of 5,200,000 B shares and 5,200,000 warrants of series TO 5 B (the "Directed New Issue"). The Directed New Issue has been carried out on the same terms as the Rights Issue, i.e. SEK 8.00 for one B share and one warrant of series TO 5 B. The Directed New Issue has been subscribed for by Swedish and foreign qualified private investors.
The Directed New Issue
The Board of Directors has decided on the Directed New Issue based on the authorization of the Annual General Meeting on December 5, 2024.
The Directed New Issue comprises 5,200,000 B shares and 5,200,000 warrants of series TO 5 B and has been subscribed for by the Edlund family (18.5 MSEK), Venture S.A.R.L. (10 MSEK), Fredrik Lundgren, privately and through a company (5 MSEK), Peter Alarik, through a company (2.5 MSEK), Johan Salén (2.5 MSEK), Ehsan Ashrafi (1.6 MSEK), Bertil Lindkvist (1 MSEK) and Mikael Lönn (0.5 MSEK). Of the subscribers, only Bertil Lindkvist was a shareholder in the Company before the Rights Issue.
Through the Directed New Issue, the number of shares in the Company will increase by 5,200,000 and the share capital by approximately SEK 527,390.55.
After registration of the Rights Issue and the Directed New Issue, the number of shares in Diamyd Medical will amount to 137,299,723, of which 3,378,120 are A-shares and 133,921,603 are B shares. The share capital will amount to, rounded, SEK 13,925,110.87.
The dilution for existing shareholders through the Directed New Issue amounts to 3.79 percent of the share capital in the Company calculated as the number of shares in the Directed New Issue divided by the number of shares in Diamyd Medical after the Directed New Issue.
The issue costs in the Directed New Issue are estimated to amount to approximately SEK 2.1 million.
The Board of Directors' considerations
The Directed New Issue has been carried out on the same terms as the Rights Issue, i.e. SEK 8.00 for a B share and a warrant of series TO 5 B. The price corresponds to a discount of approximately 24.5 percent on the closing price of Diamyd Medical's BTU on May 2, 2025 and a discount of approximately 21.6 percent on the volume-weighted average price (VWAP) on Nasdaq First North Growth Market during the three trading days on which Diamyd Medical's BTU has been traded.
The volume-weighted average price of Diamyd Medical's B share in the ten trading days prior to the Directed New Issue was SEK 8.53.
The reason for carrying out the Directed New Issue is that it provides Diamyd Medical with additional capital in a time- and cost-effective manner in a strained financial climate that is particularly noticeable for smaller companies, something that Diamyd Medical has previously experienced. A company like Diamyd Medical must seize the opportunity and raise capital when the opportunity arises, since the capital market may suddenly be closed. The Directed New Issue provides the Company with several qualified private investors as new shareholders. This strengthens Diamyd Medical's ownership base, which is of great importance considering that Diamyd has carried out four large rights issues within two years with a relatively low subscription rate in the three previous issues. Diamyd Medical has nevertheless been able to operate its operations according to plan but with slim resources. The additional capital contribution through the Directed New Issue is therefore particularly valuable. It gives Diamyd breathing space and the opportunity to make investments in business development that were previously postponed and to intensify preparations for the upcoming Phase 3 readout. It also gives Diamyd Medical an increased "war chest" for upcoming partner discussions. In summary, the Board of Directors assesses that the Directed New Share Issue is positive for the Company's shareholders and that it was carried out on market terms.
About Diamyd MedicalDiamyd Medical develops precision medicine therapies to prevent and treat Type 1 Diabetes. Diamyd® is an investigational antigen-specific immunomodulatory therapeutic for the preservation of endogenous insulin production specifically for individuals carrying a HLA DR3-DQ2 gene. Diamyd® has been granted Orphan Drug Designation in the U.S. as well as Fast Track Designation by the U.S. FDA for the treatment of Stage 3 (clinically diagnosed symptomatic) Type 1 Diabetes. Diamyd® has also been granted Fast Track Designation for the treatment of Stage 1 and 2 (pre-symptomatic) Type 1 Diabetes. DIAGNODE-3, a confirmatory Phase III trial is actively recruiting patients with recent-onset (Stage 3) Type 1 Diabetes at 60 clinics in eight European countries and in the US. An early read-out of the Phase 3 trial is expected in March 2026. Significant results in preserving endogenous insulin production have previously been shown in a large genetically predefined patient group - both in a largescale meta-analysis as well as in the Company's prospective European Phase IIb trial. The DIAGNODE-3 trial is recruiting only this patient group that carries the common genotype known as HLA DR3-DQ2, which constitutes approximately 40 % of patients with Type 1 Diabetes in Europe and the US. A biomanufacturing facility is under development in Umeå, Sweden, for the manufacture of recombinant GAD65 protein, the active ingredient in the antigen-specific immunotherapy Diamyd®. Diamyd Medical is a major shareholder in the stem cell company NextCell Pharma AB and in the artificial intelligence company MainlyAI AB.
Diamyd Medical's B share is traded on Nasdaq First North Growth Market under the ticker DMYD B. FNCA Sweden AB is the Company's Certified Adviser.