Share Issue/Capital Change • May 5, 2020
Share Issue/Capital Change
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BERGENBIO RAISES NOK500m (?45.4m) VIA AN OVER SUBSCRIBED PRIVATE PLACEMENT
Bergen, Norway, 5 May 2020 - BerGenBio ASA (OSE:BGBIO), a clinical-stage
biopharmaceutical company developing novel, selective AXL kinase inhibitors for
unmet medical need, is pleased to announce that it has raised NOK500m (gross)
( Euro 45.4 million) via an over subscribed Private Placement that took place via an
accelerated book building process after close of market on 4 May 2020. The
Offering was made through the allocation of 13,325,000 shares at a subscription
price of NOK 37.50 per share.
BerGenBio intends to use the net proceeds from the Private Placement to
take full advantage of clinical development opportunities stemming from the
Company's technology and to progress readiness for early commercialisation
possibilities, as well as for general corporate purposes.
Richard Godfrey, Chief Executive Officer of BerGenBio, commented: "We are
delighted with this financing and the demand for our shares. I'd like to thank
our current loyal shareholders for their continued support of BerGenBio and
welcome our new international investors to the register. This new investment
will allow us to expand the clinical development potential of our AXL drug
candidates to treat patients with serious aggressive diseases without any
effective treatment option. There is growing scientific evidence to support our
confidence and belief in our pipeline underlined by the UK Government's recent
request to test bemcentinib in the ACCORD study in COVID19 patients. The
potential broad applicability of bemcentinib is extremely exciting for our staff
and shareholders and patients alike."
Arctic Securities AS, Carnegie AS and DNB Markets, a part of DNB Bank ASA acted
as Joint Bookrunners on the transaction.
About BerGenBio
BerGenBio is a clinical-stage biopharmaceutical company focused on developing
transformative drugs targeting AXL as a potential cornerstone of therapy for
aggressive diseases, including immune-evasive, therapy resistant cancers. The
company's proprietary lead candidate, bemcentinib, is a potentially first-in
-class selective AXL inhibitor in a broad Phase II oncology clinical development
programme focused on combination and single agent therapy in lung cancer and
leukaemia. A first-in-class functional blocking anti-AXL antibody, tilvestamab,
is undergoing Phase I clinical testing. In parallel, BerGenBio is developing
companion diagnostic tests to identify those patient populations most likely to
benefit from bemcentinib: this is expected to facilitate more efficient
registration trials supporting a precision medicine-based commercialisation
strategy.
BerGenBio is based in Bergen, Norway with a subsidiary in Oxford, UK. The
company is listed on the Oslo Stock Exchange (ticker: BGBIO). For more
information, visit www.bergenbio.com
For more information, please contact
Richard Godfrey CEO, BerGenBio ASA
+47 917 86 304
Rune Skeie, CFO, BerGenBio ASA
+47 917 86 513
International Media Relations
Mary-Jane Elliott, Chris Welsh, Lucy Featherstone, Carina Jurs
Consilium Strategic Communications
+44 7780 600290/
Media Relations in Norway
Jan Petter Stiff, Crux Advisers
+47 995 13 891
Forward looking statements
This announcement may contain forward-looking statements, which as such are not
historical facts, but are based upon various assumptions, many of which are
based, in turn, upon further assumptions. These assumptions are inherently
subject to significant known and unknown risks, uncertainties and other
important factors. Such risks, uncertainties, contingencies and other important
factors could cause actual events to differ materially from the expectations
expressed or implied in this announcement by such forward-looking statements.
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