Klaria Pharma Announces New SEK 50 Million Financing Agreement
Uppsala, June 18, 2021— Klaria Pharma AB (NASDAQ FIRST NORTH: KLAR), today announced a financing agreement with a consortium lead by Modelio Equity. The financing agreement provides for a loan of up to SEK 50.0 million. SEK 30.0 million will be provided upon closing of the agreement and an additional SEK 20.0 is million available for Klaria to draw down at any time and at Klaria’s option.
“We are pleased to announce this new financing with Modelio Equity and the other investors in the consortium,” noted Jesper Wiklund, CEO of Klaria. “We have been in a good financial position in 2021, due to the successful out-licensing of the US rights to our Adrenaline Alginate Film program and the upfront payment we received upon completion of that transaction. The fact that we are now able to close this non-dilutive financing at attractive conditions is a direct result of that position.”
Oliver Molse, CEO of Modelio Equity added “We have followed and supported Klaria for over one year to date. This year, the company has made significant progress with both a successful clinical trial and with an impressive deal with a big pharma company on a separate project. We are delighted to expand our commitment to the company with this financing of 50 MSEK and look forward to continuing our collaboration with Klaria.”
With this new investment, Klaria will be in a strong financial position throughout 2021 and 2022. The company will continue all pipeline projects in accordance with previously announced development plans, including bringing the lead program Sumatriptan Alginate Film towards registration and approval.
This disclosure contains information that Klaria Pharma Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 18-06-2021 08:00 CET.
For more information, visit the Klaria Pharma Holding website klaria.com or contact:
Jesper Wiklund, CEO Klaria Pharma Holding AB (publ)
investor.relations@klaria.com
Tel: +46 (0) 8-446 42 99
This is Klaria Pharma Holding AB
Klaria (Klaria Pharma Holding AB) is a Swedish listed pharmaceutical company that develops innovative, rapid-acting products. By combining patented technology of a film that attaches to the oral mucosa and well proven pharmaceuticals, the company has developed a drug distribution concept with many benefits and potential uses. Klaria is listed on Nasdaq First North Growth Markets under the short name KLAR. FNCA Sweden is Certified Advisor (info@fnca.se, +46(0) 8-528 00 399) for Klaria Pharma Holding AB. For more information, see www.klaria.com.