Funding round completed
Norwegian company Clavis Pharma ASA has announced the successful completion of a subsequent share offering, following the private placement in June that raised NOK 129 million (around €15 million). The subsequent offering of 650,000 shares, at subscription price of NOK 12.00 per share, was oversubscribed by around 100 per cent, and resulted in gross proceeds of NOK 7.8 million.
In total, the private placement and subsequent offering in 2009 raised NOK 136.8 million for the further development of Clavis’ pipeline of anticancer drug candidates. The company is applying a proprietary Lipid Vector Technology (LVT) platform to significantly improve marketed drugs. The resulting drugs offer improved efficacy and reduced side effects through enhanced pharmacokinetic properties, greater tissue penetration and, in many cases, additional modes of action.
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