220 new shareholders in PhotoCure
The share issue raised NOK 78 million in new equity to PhotoCure and was offered at NOK 32,50 per share. The company offered up to 2.4 million shares and the share issue were over-subscribed by 1 million shares. Furthermore, in connection with this share issue, a secondary placement of 1.2 million shares from existing shareholders were completed. PhotoCure has decided to apply for a stock exchange listing within 12 months and is accordingly interested in a broader shareholder base. Allotted shares will be transfered to the subscribers as soon as the share issue is registered by the Norwegian Register of Business Enterprises. PhotoCure has also noted a substantial interest for its shares after the subscription period. Carnegie and Fondsfinans has acted as managers in connection with the transactions.
PhotoCure ASA is a Norwegian company founded in 1993. PhotoCure ASA mission is to develop and sell pharmaceuticals and medical device for photodynamic therapy and diagnostic of cancer and pre-malignant disease. All of the companies products are based on proprietary technology from research units at the Norwegian Radium Hospital, the largest comprehensive cancer centre in Northern Europe. The first products, Metvix® and Curelight are being tested in final registration studies (phase III) for non melanoma skin cancer (Basal Cell Carcinoma) and Actinic Keratosis (pre-cancerous skin lesion) and the company plans to file a Market Authorisation Application during the next year.