CombiGene carries out a directed new issue of shares to Lipigon Pharmaceuticals
The board of directors of CombiGene AB (publ) (“CombiGene”) has, on the basis of an authorization from the Annual General Meeting, resolved on a directed share issue of 1,561,365 shares to Lipigon Pharmaceuticals AB (“Lipigon”) due to the license agreement previously concluded between CombiGene and Lipigon.
The share issue is carried out in order to pay the second interim payment to Lipigon under the license agreement. The second interim payment amounts to SEK 1,499,999.63 and is paid by a new issue of 1,561,365 shares. The number of shares has been determined on the basis of a subscription price corresponding to the volume weighted average price of CombiGene’s share during a period of fifteen (15) trading days ending the day before the board of director’s resolution on the issue of shares.
The interim payment follows CombiGene’s patent protection application for vectors developed within the lipodystrophy project CGT2, made on 24 August 2020. For further information on the patent application see press release “CombiGene applies for patent protection for vectors in the lipodystrophy project CGT2” from 25 August 2020. The share issue represents a dilution of approximately 0.88 percent of the share capital of CombiGene after the share issue. The new shares will be transferred to Lipigon as soon as the issue has been registered with the Swedish Companies Registration Office.
CombiGene’s vision is to provide patients affected by severe life-altering diseases with the prospect of a better life through novel gene therapies. CombiGene’s business concept is to develop effective gene therapies for severe life-altering diseases where adequate treatment is currently lacking. Development assets are sourced from an external research network and developed to achieve clinical proof of concept. Drug candidates for common diseases will be co-developed and commercialized through strategic partnerships, while the company may manage this process on its own for drugs targeting niched patient populations. The company is public and listed on the Swedish marketplace Nasdaq First North Growth Market and the company’s Certified Advisor is FNCA Sweden AB, +46 (0)852 80 03 99 firstname.lastname@example.org.