Regenics raises NOK 20.4 million
in new equity, in the first of a total NOK
54 million two-tranche investment, from Nordic Blue hf., a
newly formed Icelandic holding company focusing on investments in
Blue Economy.
OSLO,
Norway, Aug. 13, 2024 /PRNewswire/ -- Regenics AS,
a private Norwegian biotechnology company based in Oslo (the "Company"), today announced that it
has closed the first tranche of a non-brokered private placement
with Nordic Blue hf. by issuing up to 2,523,647 units (the "Units")
at a price of NOK 8.1 per Unit which
represent aggregate gross proceeds of NOK
20.4 million. Nordic Blue will after the first tranche own
20.0 % of outstanding shares in Regenics.
Each Unit consists of one common share in Regenics AS and one-
and one-half share purchase warrants (a "Warrant"). Each Warrant
will entitle Nordic Blue to purchase one common share, at a price
of NOK 9 per unit, until December 31st 2024, representing
an additional capital raise of 34 MNOK.
The Company anticipates closing the second and final tranche of
the private placement within the next six months. The closing of
the final tranche is subject to the Company achieving certain
company and product development milestones.
In connection with the Private Placement, the Company, two of
the largest current investors, and Nordic Blue have entered into an
Investor and Shareholder Agreement whereby the Company has granted
certain rights to Nordic Blue including a nomination right with
respect to two directors on the board of the Company. The Haf
Investments fund, managed by Iceland Funds, is the largest
investor in Nordic Blue, and will take one of the board positions
in Regenics.
"We are excited to bring in such knowledgeable investors that
have had previous success in the field of bio tech and who
recognize the potential that our company and products represent,"
said Jan A. Alfheim, Board Chair of
Regenics. "Their investment and participation at the board level
will be of great value in helping Regenics bring our first lead
candidate Collex® into a phase one clinical trial in treatment of
burns and further onto the market."
Brynjolfur Eyjolfsson, Fund Manager, Haf Investments and
chairman of Nordic Blue hf. commented, "We are excited to embark on
this journey with Regenics, which aligns perfectly with the marine
biotech emphasis in the investment strategy of the Haf Investment
fund. We believe that Regenics has established a strong foundation
and has an enormous potential in the field wound care. Partnering
with experienced investors to pave the way for success is decisive
and we look forward to the journey ahead."
About Collex®
Collex® is an advanced wound dressing designed to aid healing of
partial thickness burns and chronic wounds, including diabetic and
chronic vascular ulcers. With Collex®, Regenics aims to redefine
the current standards of care in wound treatment.
Collex® is a hydrogel wound dressing constructed with all-marine
ingredients, sourced from the Norwegian coast. One of Regenics'
major innovations, HTX™, is a key component of Collex® and is
sourced and purified from unfertilized salmon roe. Collex® is
currently in the late pre-clinical stage, with significant
beneficial effects on wound healing rates demonstrated.
About Regenics
Regenics AS is a private Norwegian biotechnology company based
in Oslo. The company is developing
a range of wound care products, with a current pipeline of two
medical devices and one novel drug product candidate to meet unmet
medical needs in a multi-billion dollar wound care market.
Target indications for Regenics product candidates include
burns, diabetic wounds, chronic wounds, and enzymatic wound
debridement.
About Nordic Blue
Nordic Blue Is a a newly formed Icelandic holding company
focusing on investments in Blue Economy, with versatile
shareholders, with many of the investors having a background in
marine biotechnology, pharmaceuticals and fisheries.
About Haf Investments
Haf Investments (IS Haf Fjárfestingar slhf.) invests in unlisted
companies across the seafood value chain and in supporting
industries. The investment strategy covers five categories, from
fishing and aquaculture to high technology, infrastructure
development, marketing and marine biotechnology. The largest
investors in the fund are Icelandic pension funds together with UR
Seafood (Útgerðarfélag Reykjavíkur hf.), which is a cornerstone
investor in the fund, and Brim hf. The fund is managed Iceland
Funds hf., which is the first and one of the largest Icelandic fund
management companies, established in 1994. It is a wholly owned
subsidiary of Íslandsbanki and is supervised by the Icelandic
Financial Supervisory Authority (FME). The company provides
investments offering for individuals, companies, municipalities,
pension funds and other institutional investors.
For further information, please contact:
Jan A. Alfheim, Board Chair
Cell: +47 46 44 00 45
Email: jal-alfh@online.no
or
Karl Bryn, CEO
Cell: +47 92 80 93 90
Email: karl@regenics.no
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