NextCell's largest shareholder Diamyd Medical exercise all of its warrants
Stem cell company NextCell Pharma AB ("NXTCL") announces today, that its largest shareholder, Diamyd Medical AB, will exercise all its 296 800 series TO1 warrants. Diamyd will exercise the warrants during the subscription period which runs during the period 23rd August – 13th September 2018. This represents an investment total of SEK 1 484 000, corresponding to approximately 10 % of the outstanding warrants.
The diabetes Company Diamyd Medical is one of the main owners of NextCell Pharma, with a shareholding of approximately 14 %. In addition to its current shares, Diamyd Medical also has 296 800 series TO 1 warrants which represents an investment of SEK 1 484 000. Assuming full utilization of all Series 1 warrants, Diamyd Medical will hold approximately 13% of the voting rights and capital of NXTCL after the subscription period.
Mathias Svahn, CEO of NXTCL, comments:
"Diamyd Medical has been with us since the first day. They set high standards and are generous sharing their knowledge and experience. Having them as owners is an important asset for NextCell and me. "
NXTCL's series TO 1 warrants were issued as part of the Company's issue of units during May / June 2017 and can contribute the Company approximately MSEK 14.3 before issue costs. Each TO 1 series warrants entitles the holder to subscribe for a new share in NXTCL at a subscription price of SEK 5.00 per share. Liquidity gained through the use of warrants of series TO 1 is primarily intended to fund the completion of the Phase I / II study with ProTrans and pre-clinical activities with ProTrans, with the aim of attracting a partner to conduct further clinical studies with.
About Diamyd Medical
Diamyd Medical is dedicated to finding a cure for diabetes and other serious inflammatory diseases through pharmaceutical development and investments in stem cell and medical technology.
Diamyd Medical develops the diabetes vaccine Diamyd®, for antigen-specific immunotherapy based on the exclusively licensed GAD-molecule. Diamyd® has demonstrated good safety in studies with more than 1,000 patients as well as effect in some pre-specified subgroups. Besides the Company’s own European Phase-II trial DIAGNODE-2, where the diabetes vaccine is administered directly into the lymph node, there are four investigator initiated clinical trials ongoing with Diamyd®. Diamyd Medical also develops Remygen®, an oral GABA-based study drug which in June 2018 was approved by the Swedish Medical Agency for clinical trial. An investigator initiated placebo controlled trial with GABA and Diamyd® in patients recently diagnosed with type 1 diabetes is ongoing at the University of Alabama at Birmingham. Exclusive licenses for GABA and positive allosteric modulators of GABA receptors for the treatment of diabetes and inflammatory diseases constitutes alongside with the diabetes vaccine Diamyd® and Remygen® key assets. Diamyd Medical is also one of the major shareholders in the stem cell company NextCell Pharma AB and has holdings in the medtech company Companion Medical, Inc., San Diego, USA and in the gene therapy company Periphagen, Inc., Pittsburgh, USA.
Diamyd Medical’s B-share is traded on Nasdaq First North under the ticker DMYD B. FNCA Sweden AB is the Company’s Certified Adviser.
Financial adviser and issuing agent
Sedermera Fondkommission is the financial advisor to NXTCL for the subscription period of the series TO 1 warrants.
For more information regarding the subscription of series TO 1 warrants, please contact:
Sedermera Fondkommission
Phone: 040-615 14 10
E-mail: info@sedermera.se
This information is the information that NextCell Pharma AB is required to disclose under the EU Market Abuse Regulation. The information was provided by the below contact person for publication on 23th of August 2018.
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For more information about NextCell Pharma AB, please contact:
Mathias Svahn, CEO
Leo Groenewegen, CFO
Phone: 08-735 5595
E-mail: info@nextcellpharma.com
About NextCell Pharma AB:
Stem cells are expected to change the way how many of today's life-threatening diseases are treated. NextCell Pharma AB develops ProTrans, a drug candidate consisting of stem cells for the primary treatment of autoimmune and inflammatory diseases as well as for use in kidney transplants. ProTrans consists of selected stem cells derived from the umbilical cord tissue with NextCell Pharma AB's proprietary method. In addition, the company has a service called Cellaviva, Sweden's first and only IVO-approved stem cell bank for the family-saving of stem cells from umbilical cord blood and umbilical cord tissue.