March 31st, 2015

Corline Biomedical AB announces initial public offering and plans listing on Nasdaq First North in Stockholm

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UPPSALA, SWEDEN – Corline Biomedical AB (“Corline”), a company developing therapeutic candidates to be used in organ and cell transplantation, last week announced that during a shareholders’ meeting on March 25, 2015, Corline decided on an initial public offering of newly issued shares of its common stock. The offering will be made during April 14 –28, 2015 and full subscription will provide Corline with 12 MSEK, before deduction of costs. The rights issue is guaranteed by subscription undertakings and underwriting to a degree of approximately 50 %, corresponding to 6 MSEK.    

 

About Corline Biomedical AB

Based on proprietary heparin technology Corline has developed a pipeline of therapeutic candidates to be used in organ and cell transplantation, with significant market potential. The company plans to enter clinical trials during 2015 within the area of diabetes type 1 and during 2016 for kidney transplantation. Corline is also active in the medical device segment and has coated more than 100,000 coronary stents for clinical use. The new therapeutic candidates are based on the same core technology as the medical device coating system.

Corline has decided on a public offering as preparation for a listing of the company’s shares.

 

Use of proceeds and listing on Nasdaq First North

The proceeds from the issue will be used for financing Corline’s planned development project in diabetes type 1 and kidney transplantation. The process of listing the company’s shares on Nasdaq First North in Stockholm has been initiated. Provided full and final authorisation by the exchange, the first trading day will be on June 3, 2015.

 

The offering

Subscription period:                             April 14 – 28, 2015.
Share price:                                            7.00 SEK per share.
No. of shares in offering:                    Up to 1,720,000 shares.
No. of shares prior to offering:         7,837,618 shares.
Company valuation:                             54.9 MSEK (pre-money).

 

Certified Adviser

Sedermera Fondkommission is the company’s financial adviser and Certified Adviser in connection with the offering and planned listing on Nasdaq First North in Stockholm

 

Investment Memorandum

Further information about the issue and the company will be included in a separate Investment Memorandum, which can be downloaded from the company’s (www.corline.com) and Sedermera Fondkommission’s (www.sedermera.se) web sites starting April 14, 2015.

 

For more information on the rights issue, please contact

Sedermera Fondkommission
Telephone: +46 431-47 17 00
E-mail: info@sedermera.se

 

For additional information, please contact

Henrik Nittmar, CEO
Telephone: +46 18-71 30 90
E-mail: henrik.nittmar@corline.se

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