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Algeta brings in NOK245mm through private placement

Executive Summary

Cancer therapeutics developer Algeta ASA raised NOK245mm ($35.7mm) through the private placement of 22.3mm shares at NOK11 each (a 32% discount) to a group of new and existing investors led by Abingworth. The company could bring in an additional NOK35mm through a second closing. Funds will be put towards Phase III trials of Algeta's lead candidate Alpharadin, an alpha-emitting compound based on radium-223 for bone metastases of prostate cancer.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
    • Radiopharmaceuticals, Contrast Agents
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement
    • Private Investment in Public Equity

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