Genovis completes private placement of shares to LMK Venture AB

Genovis has carried out a rights issue of 1 450 000 shares, thereby increasing share capital by SEK 580 000. 

The issue is directed at LMK Venture AB with deviation from shareholders’ preferential rights. The issue was authorized by the annual general meeting on March 20, 2012. The AGM set the issue price to SEK 3.50 per share in accordance with the rights issue, which was authorized at the same time. The subscribed shares will be paid for in cash and the total number of shares after registration will be 11 835 568.

Together with the recently completed rights issue, the company received SEK 17m before issue expenses, which will primarily be used to strengthen the sales organization and infrastructure for production, as well as to launch activities for products from the nano portfolio.

“Business development and commercialization of our two product groups is our focus and the completed share issue will primarily strengthen this strategy. With this issue, Genovis is well-financed and we can focus fully on the activities required to increased sales and expand our product portfolio. I am therefore extremely pleased and grateful for the support Genovis received from existing and new shareholders through the recently completed rights issue and private placement,” says Sarah Fredriksson, CEO of Genovis AB

About LMK Venture AB

LMK Ventures is an investment company based in Lund that invests in emerging companies in various industries. Its strategy is to provide capital, expertise and contacts to contribute to the creation of new Swedish success stories. LMK Ventures invests in both listed and unlisted companies and currently has holdings in about 15 companies. LMK Ventures is a subsidiary of LMK Industri, a major shareholder in Axis AB.

For more information, please contact: Sarah Fredriksson, CEO, Genovis AB Tel: 4646 -101235 sarah.fredriksson@genovis.com

ABOUT GENOVIS

Genovis develops and sells innovative technologies from two unique product portfolios. The first includes enzymes that facilitate development and quality control for applications such as antibody-based drugs. The products launched to date are aimed at customers who work with development of drugs, new diagnostic methods and basic research.

The second consists of nanotechnology in new contrast agents and focuses on design, production and characterization of nanostructures as contrast agents in medical imaging. The nanostructures and methods that Genovis focuses on can also be used as carriers of various substances in the development of new drug delivery methods. The projects are mainly in-house, but also include collaborations with research groups, including at Lund University.

Genovis shares are listed on the First North OMX Nordic Exchange and Thenberg Fondkommission is our certified advisor.

About Us

Genovis’ business concept is to develop, produce and market innovative technologies that facilitate and enable development of new treatment methods and diagnostics for customers in the medical device and pharmaceutical industries. The Group consists of Genovis AB and the subsidiary GeccoDots AB. Genovis develops and sells unique enzymes (protein engineering portfolio) in innovative product formats that facilitate development and quality control of and biological drugs. GeccoDots uses nanotechnology to produce a new type of contrast agent that is used in medical imaging. Genovis shares are listed on NASDAQ OMX First North

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