Lytix Biopharma – Lytix launches Retail Offering via Primary Bid and Nordnet, in parallel with private placement

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Oslo, 16 December 2024 – Reference is made to the stock exchange announcement (the “Announcement”) published by Lytix Biopharma AS ("Lytix" or the "Company") earlier today regarding, inter alia, an offering of new shares (the "Offer Shares") to retail investors through PrimaryBid SA and its partner in Norway, Nordnet Bank AB ("Nordnet").

The offering aims to raise gross proceeds of up to the NOK equivalent of EUR 1 million (the "PrimaryBid Offering"), which is conducted in parallel with a private placement of new shares raising  NOK 90-100 million in gross proceeds (the "Private Placement"). This announcement sets out additional details on how interested investors can apply for Offer Shares in the PrimaryBid Offering. Investors interested in participating in the PrimaryBid Offering can do so through Nordnet. Investors should review the Announcement along with this announcement, as well as the information available about the PrimaryBid Offering published on Nordnet's website (including risk factors). All sources contain essential information for making an informed investment decision. Please read all materials to fully understand the terms and conditions of the PrimaryBid Offering.

“Lytix is now a mature biotech company with a robust and promising portfolio of clinical studies in the largest cancer indications globally. This capital raise allows us to fast-track our lead drug candidate LTX-315 towards commercialization through a potential phase III study with our licensing partner Verrica, whilst at the same time bring our next generation molecule LTX-401 into clinical stage,” says Dr. Øystein Rekdal, CEO of Lytix Biopharma.

As referenced in the Announcement, the Managers (as defined below) have prior to launch of the Private Placement and the PrimaryBid Offering received pre-commitments and indications of interest for a total amount of approximately NOK 75 million in the Private Placement and have received guarantee commitments for an additional NOK 25 million, to ensure minimum NOK 100 million in gross proceeds being raised to the Company combined for the Private Placement and PrimaryBid Offering.

Attached to this announcement and available at https://lytixbiopharma.com/investors/overview.html is an overview of how interested investors can apply.

Validated technology and promising phase II results
Lytix Biopharma has a robust portfolio of three ongoing phase II studies in patients with skin cancer diseases. Earlier this year, licensing partner Verrica Pharmaceuticals reported very positive results from the phase II study treating basal cell carcinoma (“BCC”) patients with Lytix lead drug candidate LTX-315. The study shows an impressive 97% overall response rate and complete clearance of tumors in 51% of the patients. Verrica Pharmaceuticals will during H1 2025 request a meeting with FDA to discuss a potential phase III study and the path towards commercialization for LTX-315 in the treatment of BCC patients.

“We have a validated technology showing great potential for filling the gaps and challenges of the current cancer treatment alternatives. With a potential phase III study, upcoming interim results from our phase II study (NeoLIPA) in early-stage melanoma patients and advancement of our next drug candidate LTX-401 towards clinical trials, we have a solid foundation for generating strong shareholder returns in the coming period,” adds Rekdal.

Subscription details

Key highlights and details for the PrimaryBid Offering:

• Price per Offer Share: NOK 6.00.
• Application period: as early as possible from 16 December 2024 at 16:30 (CET) to 16 December 2024 at 21:00 (CET).
• No minimum order size.
• Available for investors in Norway, Denmark and Finland.
• Applications can only be submitted through Nordnet's website from the start to the end of the application period.

For investors in Norway, please use the following link to apply for shares:https://www.nordnet.no/no/kampanjer/emisjon/lytix-biopharma/viktig-informasjon (information in the link will be available in approx.15 minutes from the time of this announcement). For investors in Denmark and Finland, please visit the corporate action page on Nordnet.dk and Nordnet.fi.

The gross proceeds of the PrimaryBid Offering and the Private Placement will depend on the orders received for each offering, with no reallocation of funds between them. Allocations may be reduced at the Company’s discretion if demand exceeds the limit. The PrimaryBid Offering will not proceed if the Private Placement does not occur. The Private Placement is not conditional on the PrimaryBid Offering.

“We are very happy to offer retail and private investors participation in this capital raise on the same terms and in parallel with the Private Placement. Leveraging the solution from PrimaryBid and Nordnet is a significant step towards the democratization of investment processes. For Lytix, it is important to emphasize the equal treatment of shareholders,” says Dr. Øystein Rekdal, CEO of Lytix Biopharma.

The net proceeds of the PrimaryBid Offering will be used for the purposes referenced in the Announcement.

Allocation

Allocation of Offer Shares will be made at the sole discretion of the Company's Board of Directors (the "Board") in consultation with the joint bookrunners for the Private Placement, Carnegie AS and DNB Markets, a part of DNB Bank ASA (the "Managers"), after expiry of the Application Period (subject to any shortening or extension), who will focus on criteria such as (but not limited to) pre-commitments, indications from the wall-crossing phase, existing ownership in the Company, timeliness of the application, relative order size, sector knowledge, perceived investor quality and investment horizon. Notifications of allocations are expected to be distributed to applicants on or about 17 December 2024.

The PrimaryBid Offering comprises a retail offer of up to the NOK equivalent of EUR 1 million to the public in Norway, in each case subject to an exemption being available from prospectus requirements and any other filing or registration requirements and subject to other selling restrictions.

Settlement
For details on the settlement of the Offer Shares in the PrimaryBid Offering, please refer to the Announcement.

Each applicant in the PrimaryBid Offering accepts the following by placing an application through Nordnet's platform

An investment in the Offer Shares is made solely at the applicant’s own risk and is based on the applicant's own assessment of the Company and the Offer Shares. An investment in the Offer Shares is only suitable for investors who can afford to lose the invested amount. No prospectus or other document providing a similar level of disclosure has been prepared in connection with the PrimaryBid Offering.

For further information, please contact
Gjest Breistein, CFO
gjest.breistein@lytixbiopharma.com
+47 952 60 512

About Lytix Biopharma
Based in Oslo, Norway, Lytix Biopharma is a clinical-stage biotech company with a highly novel technology based on world-leading research in host-defense peptide-derived molecules. Lytix Biopharma’s lead product, LTX-315, is a first-in-class oncolytic molecule representing a new principle to boost anti-cancer immunity. Lytix Biopharma has a pipeline of molecules that can work in many different cancer indications and treatment settings, both as mono- and combination therapy.