Today the subscription period for SynAct Pharma AB’s issue opens, before the planned listing on Aktietorget

Today, 24 May 2016, sees the opening of the subscription period for SynAct Pharma AB’s (“SynAct”) issue of units, before the planned listing on Aktietorget. The subscription period ends on 8 June 2016. In the event of a fully subscribed issue, the company will raise approximately SEK 32.3 million before issue costs and an additional maximum of approximately SEK 12.9 million before issue costs at full utilisation of subscription options. SynAct has received subscription commitments of approximately SEK 16.4 million, corresponding to approximately 51 per cent of the initial issue volume.

SynAct – Treatment of inflammatory diseases

SynAct conducts research and development in the treatment of inflammatory diseases. The company has developed a platform technology based on a new class of drug candidates targeting acute impairment in inflammatory diseases with the primary purpose of stimulating the natural healing mechanisms. Synact’s drug candidate AP1189 accelerates the healing of the inflammatory state by strengthening the body’s own cells to better combat the flare in inflammation. SynAct intends to initiate a Phase I clinical study in psoriatic arthritis during 2016, the results of which are calculated to be reported during 2017. During 2017, the company also intends to prepare and initiate a Phase II clinical study, which is estimated will end in 2018, after which SynAct intends to conduct a commercial transaction with the candidate drug AP1189.

Business model

Synact’s business model is to run projects into clinical development in order to secure proof-of-concept, i,e support for clinical relevance. Based on the clinical data, the company intends to identify a strategic partner that can acquire the project for further development.

Motive for issue

SynAct is now conducting an issue of units, consisting of shares and subscription options, ahead of a planned share listing on Aktietorget in July 2016. The motive for the issue is to enable the project with the candidate drug AP1189 to be run through Phase I and Phase II clinical studies. The proceeds raised by the initial stage of the issue, approximately SEK 32.3 million, are primarily intended to finance the implementation of the Phase I clinical study and the planning and preparation for the Phase II study. The proceeds obtained through the associated subscription options are primarily intended to finance the implementation of a Phase II clinical study, as well as complementary research for indications other than the primary indication for AP1189. The total issue proceeds (initial issue volume and full redemption of the related subscription options) are intended to finance SynAct up to the end of Q1 2019.

Subscription commitments

SynAct has received subscription commitments of approximately SEK 16.4 million, corresponding to approximately 51 per cent of the initial issue volume.

The offer in brief

Subscription period: 24 May – 8 June 2016.
Subscription value: 32,00 SEK per unit, equivalent to 6,40 SEK per share. Each unit consists of five shares and two series TO 1 subscription options. The subscription options are issued without consideration.
Subscription items: The minimum subscription item is 150 units (SEK 4 800).
Issue volume: The offer comprises a maximum of 5 050 000 shares and a maximum of 2 020 000 subscription options, equivalent to SEK 32 320 000 and SEK 12 928 000 respectively. The minimum limit for the issue is 20 MSEK.
Value: Approx 46.1 MSEK (pre-money).
Trading location: The Board of Directors of SynAct has applied to list the shares and series TO 1 subscription options on Aktietorget. The first day of trading on AktieTorget is calculated to be the 11 July 2016.
Subscription commitments: The company has received subscription commitments totalling approximately SEK 16.4 million, corresponding to approximately 51 per cent of the issue volume.
Conditions for TO 1: Possession of a series TO 1 subscription option entitles the holder to subscribe to a newly issued share at a rate of SEK 6.40. Subscription to shares with the support of series TO 1 subscription options may take place from 9 March 2017 until 23 March 2017.

Conditions for listing

SynAct is approved for listing on Aktietorget, provided that the Board is supplemented by an independent board member (election is scheduled to take place at the extraordinary general meeting on 30 May 2016), that the share market’s ownership dissemination requirements are met and that a minimum level of SEK 20 million is achieved in the issue.

Investor meetings

In connection with the issue, SynAct will hold information meetings to give information about the Company’s activities and future plans. The information meetings are free to attend and light refreshments will be offered. For further information about the information meetings, please visit Sedermera Fondkommission’s website (www.sedermera.se) or contact Sedermera Fondkommission by telephone +46 (0)431-47 17 00 or e-mail anmalan@sedermera.se.

– 24 May 2016 at 9.15am. Aktiespararna Aktiedag, Casino Cosmopol, Slottsgatan 33, Malmö.
Applications are made via www.aktiespararna.se (http://www.aktiespararna.se/aktiviteter/Evenemang-2016/AktiedagenMalmo/)

– 30 May 2016, at 11.45am – 1.00pm. Scandic Hotel Klara, Slöjdgatan 7, Stockholm.
Applications are made to anmalan@sedermera.se

– 30 May 2016, at 6.00pm – 8.30pm. Flädie Mat & Vingård, Flädie Mejeriväg 19, Bjärred.
Applications are made to anmalan@sedermera.se

– 1 June 2016. Sedermeradagen Göteborg, Clarion Hotel Post, Drottningtorget 10, Göteborg.
Applications are made to anmalan@sedermera.se or via www.sedermeradagen.se

Prospectus, registration form and teaser

The prospectus (containing full terms and conditions), teaser and application form are available on the company’s (www.synactpharma.se), AktieTorget’s (www.aktietorget.se) and Sedermera Fondkommission’s (www.sedermera.se) websites.

Financial advisor
Sedermera Fondkommission is acting as financial advisor to Synact in connection with the listing issue.

For further information regarding the issue, please contact:

Sedermera Fondkommission
Telephone: 0431-47 17 00
E-mail: info@sedermera.se

For further information about SynAct Pharma AB, please contact:

Jeppe Øvlesen
CEO, SynAct Pharma AB
Telephone: +45 28 44 75 67
E-mail: joo@synactpharma.com

Henrik Stage
CFO, SynAct Pharma AB
Telephone: +45 40 26 09 00
E-mail: hs@synactpharma.com

SynAct Pharma AB, Company registration number 559058-4826, is a biotech company that conducts research and development in inflammatory diseases via the wholly owned Danish subsidiary, SynAct Pharma ApS. The company has a platform technology based on a new class of drug candidate targeting acute deterioration in chronic inflammatory diseases, with the primary purpose of stimulating natural healing mechanisms. SynAct Pharma’s main focus is on the development of the candidate drug AP1189, which strengthens the body’s own cells and fights flares in inflammation by accelerating recovery and thereby reducing the risk of chronic inflammation deterioration.