Preferential Rights Issue 2024

Background and rationale of the rights issue

The Board of Directors have on April 26, 2024, decided on a on a rights issue of shares with pre-emption rights for the shareholders of approximately SEK 34.4 million (the “Rights Issue”).  For each share owned on the record date June 3, 2024, the holder will receive one (1) subscription right. Seven (7) subscription rights will entitle the holder to subscribe for six (6) shares. The subscription price per share amounts to SEK 0.90. The subscription period for the Rights Issue will run from and including June 5, 2024 until and including June 20, 2024.

Alzinova’s primary focus is the development of ALZ-101, an oligomer-specific vaccine for the treatment of Alzheimer’s disease. The vaccine candidate, ALZ-101, has demonstrated promising results in phase 1b trials, showing favourable safety and tolerability data. Additionally, an in-depth analysis shows a positive trend in biomarkers associated with Alzheimer’s disease. In parallel with the phase 1b-study, Alzinova is actively preparing for phase 2 study.

Alzinova is also developing ALZ-201, an oligomer-specific monoclonal antibody that can be used as a stand-alone disease-modifying therapy or complement to ALZ-101 for the treatment of Alzheimer’s disease. The antibody is currently undergoing preclinical studies.

The proceeds, after issuing costs, from the Rights Issue shall primarily be used for:

  • Production of ALZ-101 for phase 2 trial, approximately 29 percent.
  • Expansion of the phase 1b study through Part A2 and Part B, regulatory and administrative costs for phase 2 preparations, approximately 20 percent.
  • Strengthening of Alzinova’s working capital for research and development, approximately 40 percent.
  • Patent and patent development for ALZ-101 and ALZ-201, as well as business development, approximately 11 percent.

Summarizing terms of the rights issue:

  • Subscription period: June 5, 2024 – June 20, 2024.
  • Trade in unit rights: June 5, 2024 – June 17, 2024.
  • Subscription with preferential rights: For each share owned on the record date June 3, 2024, the holder will receive one (1) subscription right. Seven (7) subscription rights will entitle the holder to subscribe for six (6) shares. The subscription price per share amounts to SEK 0.90.
  • Subscription price: The subscription price per share amounts to SEK 0.90.
  • Issue proceeds: Upon full subscription in the Rights Issue, the Company receives approximately SEK 34.4 million before issuing costs.

Subscription commitments and underwriting commitments: The rights issue is covered to 100 percent through subscription commitments and underwriting commitments.

Links:

Press releases:

Q&A session at Redeye with CEO Kristina Torfgård

Alzinova - Healthcare Webinar at Penser Access by Carnegie

Alzinova presented in investor pitch by BioStock

Alzinova at Aktiedagarna in Stockholm