Asarina Pharma issues new shares to Ergomed plc
(Stockholm, June 4, 2019) Asarina Pharma AB (publ) today announces that it will, pursuant to the authorisation granted by the Annual General Meeting on 8 May 2019, issue 246,434 new shares to Ergomed plc (“Ergomed”), the CRO carrying out its Phase IIb PMDD study.
The share issue has been triggered by the reaching of a planned milestone in the PMDD study, and it represents 1.5% of the current share capital in Asarina Pharma AB.
Ergomed is responsible for the operational management of Asarina’s phase IIb study. As described in Asarina’s listing prospectus, dated 27 August 2018, Asarina and Ergomed entered into a collaboration agreement on 28 October 2016, by which Ergomed has undertaken to invest EUR 2 million in the collaboration.
Asarina is compensating Ergomed at pre-defined clinical milestones partly by cash, partly by new shares. The current payment to Ergomed amounts to SEK 6,776,934 and the number of shares has been determined at the market price on the invoice date 30 April 2019 (SEK 27.50). The new shares will be transferred to Ergomed during June when they have been registered at Bolagsverket, the Swedish Companies Registration Office.
After the issue, Ergomed will hold 638,332 shares in Asarina Pharma.
The company's total number of outstanding shares increases from 16,037,218 shares to 16,283,652 shares.
For further information, please contact:
Peter Nordkild, CEO, Asarina Pharma AB
Phone: +45 25 47 16 46
Jakob Dynnes Hansen, CFO, Asarina Pharma AB
Phone: +45 5132 3698
Erik Penser Bank AB
Phone: +46 8-463 83 00
About Asarina Pharma
We are a Swedish biotech company developing Sepranolone, the world’s first dedicated treatment for premenstrual dysphoric disorder (PMDD) and other menstrual-related conditions. Our product pipeline is built on over 40 years’ research into menstrual-related disorders like PMDD and menstrual migraine. With our new family of GAMSA compounds (GABAAModulating Steroid Antagonists), we aim to deliver a new generation of efficacious and safe drugs for still widely untreated conditions, thereby becoming a leading Women’s Health company.
The information above was submitted by Asarina Pharma AB CEO Peter Nordkild for publication on June 3, 2019.