Biosergen Receives Full Subscription Guarantees for Warrant Exercise from Largest Shareholders and Executive Management
Stockholm, Sweden – August 16 – Biosergen AB ("Biosergen" or the “Company"), a clinical stage biotech company specializing in the development of innovative anti-fungal therapies, is pleased to announce significant guarantees from its largest shareholders and executive management to fully exercise their warrants during the ongoing warrant exercise period.
Östersjöstiftelsen and Rosetta Capital, the Company’s largest shareholders, will exercise all their warrants. In addition CEO Peder M. Andersen and CFO Niels Laursen will subscribe to all of their warrants. Moreover, COO Tine Olesen, who does not currently own any warrants, will also participate in the warrant exercise.
In total, these guaranteed commitments represent more than 48% of the total outstanding TO2 warrants. The guarantors will receive no compensation for their commitment. Therefore, Biosergen can expect to receive a minimum of SEK 2.8 million from the ongoing TO2 warrant exercise from this group of investors.
“We are grateful for the trust and confidence shown by Östersjöstiftelsen and Rosetta Capital. We hope many other investors will join us in this investment opportunity. All management members are committed to creating a successful company. Ultimately, we aim to make a substantial impact in the fight against fungal infections, and we are on a very good track to do so,” commented CEO Peder M. Andersen.
For further information about Biosergen, please contact:
Dr. Peder M. Andersen, CEO
Telephone: +45 2080 2470
E-mail: peder.andersen@biosergen.net
Niels Laursen, CFO
Telephone: +45 4014 5059
Email: niels.laursen@biosergen.net
Certified Adviser
Erik Penser Bank
Telefon: +46 8 463 8000
E-mail: certifiedadvisor@penser.se
ABOUT BIOSERGEN
Biosergen is a leading clinical-stage biotechnology company at the forefront of antifungal drug development. Our mission is to develop BSG005, our lead drug candidate, into the new first-line treatment choice for invasive fungal diseases, while generating significant returns for our shareholders. Our Phase I trial showcased the exceptional safety and tolerability of BSG005, especially when compared to existing alternatives. Building on those results we are now advancing to Phase II clinical trials expected to clinically validate BSG005’s potential as a game-changing antifungal treatment. Biosergen’s development of BSG005 is based on two decades of scientific work at the Norwegian University of Science and Technology. For more information, visit www.biosergen.net.