Circio Holding ASA – Bridge financing requested from Atlas
Oslo, 13 June 2024: Reference is made to the stock exchange announcement by Circio Holding ASA (OSE:CRNA) (“CIRCIO” or the “Company”) on 29 May 2024 regarding the terms and key information of the planned rights issue to raise gross proceeds of up to NOK 52 million (the “Rights Issue”), including the commitment by Atlas Special Opportunities, LLC (“Atlas”) to provide the Company with financing until completion of the Rights Issue by subscribing for bonds with a nominal value of NOK 4 million (the "Bridge Financing").
The Company has by a notice of exercise under the investment agreement entered into with Atlas (the “Investment Agreement”), which was approved by an extraordinary general meeting of the Company on 9 March 2023 and amended at an extraordinary general meeting on 27 September 2023, formally called on the Bridge Financing by requesting Atlas to subscribe and pay for eight convertible bonds with an aggregate principal amount equal to NOK 4,000,000. Atlas will be allocated these bonds under the terms and conditions of the Investment Agreement.
For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@circio.com
Lubor Gaal, CFO
Phone: +34 683343811
Email: lubor.gaal@circio.com
About Circio
Building next generation RNA therapeutics
Circio Holding ASA is a biotechnology company developing novel circular RNA gene therapies and immunotherapy medicines.
Circio has established a unique circular RNA (circRNA) platform for genetic medicine. The proprietary circVec technology is based on a modular genetic cassette design for efficient biogenesis of multifunctional circRNA from DNA and viral vectors, which can be deployed in multiple disease settings. The circVec platform has demonstrated enhanced and more durable protein expression than classic mRNA vector systems, and has the potential to become the new gold-standard for DNA and virus-based therapeutics in the future. The circRNA R&D activities are being conducted by the wholly owned subsidiary Circio AB based at the Karolinska Institute in Stockholm, Sweden.
In addition, Circio is developing a cancer vaccine, TG01, targeting KRAS driver mutations. TG01 is currently being tested in three clinical trials: RAS-mutated pancreatic cancer and lung and non-resectable pancreatic cancer in US, and multiple myeloma in Norway. These studies are being run through academic collaborative networks, supported by prestigious research grants from Innovation Norway and the Norwegian Research Council, creating read-outs and future optionality for the program at low cost to Circio.