HealthCap V Portfolio Company Targovax Completes NOK 200 Private Placement

HealthCap V Portfolio Company Targovax Completes NOK 200 Private Placement

HealthCap V portfolio company Targovax ASA has announced a successful NOK 200 million private placement, in which HealthCap V L.P. has committed to participate with NOK 25 million. HealthCap is the largest shareholder in Targovax with 22%, fully diluted, following the private placement, but prior to the repair offering of up to an additional NOK 40 million. The private placement is subject to approval by the company’s EGM to be held on or around June 30, 2017.

For more information, please visit Targovax Press Release page to view original article

06.July 2017 at 11:07:00 CET

Oslo, 6 July 2017: Reference is made to the stock exchange announcements by Targovax ASA (“Targovax” or the “Company”) published on 8 June 2017 and 30 June 2017 regarding the completed private placement of 10,000,000 new shares in the Company. The NOK 1,000,000 share capital increase pertaining to the private placement has now been registered with the Norwegian Register of Business Enterprises. The new share capital of the Company is NOK 5,224,111.30, divided into 52,241,113 shares, each with a nominal value of NOK 0.10.

The new shares issued in the private placement will be listed on Oslo Børs today.


For further information, please contact:

Erik Digman Wiklund, CFO
Phone: +47 413 33 563

About Targovax

Arming the patient’s immune system to fight cancer

Targovax is a clinical stage company focused on developing and commercializing novel immuno-oncology therapies to target, primarily, treatment-resistant solid tumors. Immuno-oncology is currently one of the fastest growing therapeutic fields in medicine.

The Company’s development pipeline is based on two novel proprietary platforms:

The first platform, ONCOS, uses oncolytic viruses, an emerging class of biological therapy. ONCOS exclusively uses an adenovirus that has been engineered to be an immune activator that selectively target cancer cells. In phase I it has shown to immune activate at lesional level which was associated with clinical benefit. We expect proof of concept data for this platform in 2017 from a clinical trial of lead product ONCOS-102 in patients with refractory malignant melanoma.

The second platform, TG peptides (TG), solely targets tumors that express mutated forms of the RAS protein. Mutations to this protein are common in many cancers and are known to drive aggressive disease progression and treatment resistance. There is a high unmet medical need for therapies that are effective against tumors that express these mutations. The TG platform’s therapeutic potential stems from its ability to enable a patient’s immune system to identify and then destroy tumors bearing any RAS mutations. In early 2017, key proof of concept data for the TG platform from a clinical trial of TG01 in resected pancreatic cancer patients showed encouraging overall survival and will give guidance for the future clinical development of this platform.

Targovax’s development pipeline has three novel therapeutic candidates in clinical development covering six indications.

Both platforms are protected by an extensive portfolio of IP and know-how and have the potential to yield multiple product candidates in a cost-effective manner. Additionally, we have other products in early stages of development.

In July 2016, the Company listed its shares on Oslo Axess. In March 2017, the shares were upgraded to Oslo Børs, the main Oslo Stock Exchange.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Targovax ASA via Globenewswire
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Final price in BONESUPPORT™’s initial public offering set at SEK 29 per share – trading on Nasdaq Stockholm commences today


To read original article, please visit the Bone Support Site 

Stockholm, 21 June, 2017 

BONESUPPORT HOLDING AB (publ) (“BONESUPPORT” or the “Company”) hereby announces the outcome of the offering of newly issued shares in the Company (the “Offering”) and its listing on Nasdaq Stockholm. The Offering attracted strong interest among Swedish and international investors and the Offering was oversubscribed several times.

The Offering

•  The final price of the Offering has been set at SEK 29 per share, corresponding to a market capitalization of SEK 1,416 million based on the total number of outstanding shares in BONESUPPORT following the Offering, providing the Over-allotment option (defined below) is fully utilized.

•  In total, 17,241,379 new shares in BONESUPPORT are issued in the Offering, corresponding to issue proceeds of SEK 500 million in total before issue costs and SEK 461 million after issue costs.

•  Furthermore, the Company has issued an over-allotment option (the “Over-allotment option”) of 2,586,206 new shares, corresponding to SEK 75 million and 15 percent of the total number of shares in the Offering.

•  The total number of shares in BONESUPPORT after the Offering will amount to 46,252,600 shares if the Over-allotment option is not utilized, and 48,838,806 shares if the Over-allotment option is fully utilized.

•  Through the Offering, the Cornerstone Investor Swedbank Robur Fonder AB as well as the existing shareholders HealthCap V L.P., Stiftelsen Industrifonden, Lundbeckfond Invest A/S, Carl Westin Ltd, Tredje AP-fonden, Tellacq AB, OFP V Advisor AB and Arctic Funds PLC have together agreed to acquire shares in line with their commitments of SEK 236 million. This corresponds to approximately 41.0 percent of the number of shares in the Offering, assuming a full exercise of the Over-allotment option.

•  Immediately following the completion of the Offering, and assuming that the Over-Allotment option is exercised in full, BONESUPPORT’s largest shareholders will include HealthCap V L.P (13.5 %), Stiftelsen Industrifonden (9.8 %), Lundbeckfond Invest A/S (9.8 %), Swedbank Robur Fonder AB (9.2 %), Tredje AP-fonden (8.3 %), Carl Westin Ltd. (5.5 %) and Tellacq AB (5.3 %).

•  Trading in the Company’s shares on Nasdaq Stockholm commences today, 21 June 2017, under the ticker “BONEX” (ISIN code: SE0009858152).

•  Trading is conditional until the settlement day, which is expected to be 26 June 2017.


“I am delighted with the strong support we have generated from both new investors, including Swedbank Robur, and our existing investors. The backing of these high quality investors highlights the significant potential of BONESUPPORT’s CERAMENT™ products,” commented Richard Davies, CEO of BONESUPPORT. “Our IPO will provide us with the funds we need to execute our strategy of driving sales in both the US and Europe, generating additional clinical data to enhance the competitive positioning of our products and completing the FORTIFY study, which is key to gaining US approval for CERAMENT G. Our stronger financial position will also allow us to invest in our pipeline of new products that are designed to promote bone growth. This strategy provides the foundation for our 2020 financial targets and will allow us to generate significant value for our shareholders.”




BONESUPPORT is an innovative and rapidly growing commercial stage orthobiologics company, based in Lund, Sweden. The Company develops and commercializes innovative injectable bioceramic bone graft substitutes that remodel to the patient’s own bone and have the capability of eluting drugs directly into the bone void. BONESUPPORT’s marketed synthetic bone graft substitutes CERAMENT™ BONE VOID FILLER(BVF), CERAMENT™ G and CERAMENT™ V1 are all based on the Company’s novel and proprietary CERAMENT technology platform.


The Company’s products are targeting a large addressable market opportunity across trauma, chronic osteomyelitis (bone infection), revision arthroplasty (replacement of a joint prosthesis) and infected diabetic foot. The Company’s research and development is focused on the continuing development and refinement of its existing technology to extend its use into additional indications by the elution of other drugs and therapeutic agents.


BONESUPPORT’s products are based on an innovative technology backed by an intellectual property portfolio of approximately 100 registered and/or pending patents. BONESUPPORT has a nine year track record of safety and efficacy in treating patients with an estimated number of 30,000 procedures performed to date with its products worldwide based on sales data.


BONESUPPORT’s total sales increased from SEK 41 million in 2014 to SEK 105 million in 2016, representing a compound annual growth rate of 60 percent.


The Company’s financial target is to achieve revenue exceeding SEK 500 million in the financial year 2020, with a gross margin exceeding 85 percent and a positive operating profit.


1CERAMENT G: Not available in the United States, for investigational use only. CERAMENT V: Not available in the United States.



Carnegie Investment Bank AB (publ) and ABG Sundal Collier AB are acting as Joint Global Coordinators and Joint Bookrunners in the Offering. Setterwalls Advokatbyrå AB is legal advisor to the Company. Baker & McKenzie Advokatbyrå KB is legal adviser to the Joint Global Coordinators and Joint Bookrunners.


For more information contact:

Richard Davies, CEO

Tel: +46 (0) 46 286 53 71



Björn Westberg, CFO

Tel: +46 (0) 46 286 53 60


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