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Nordic Nanovector raises 242.5M kroner to develop non-Hodgkin lymphoma drug

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Nordic Nanovector raises 242.5M kroner to develop non-Hodgkin lymphoma drug

Nordic Nanovector ASA raised gross proceeds of 242.5 million kroner via a private placement of shares.

The Norway-based biotechnology company, which develops therapies for blood-related cancers, sold 11,023,892 new shares at 22 Norwegian kroner apiece.

Net proceeds from the placement are expected to be used to further the clinical development of Betalutin, an investigational drug for treating recurrent non-Hodgkin lymphoma.

Venture capital fund HealthCap VI LP, the company's largest shareholder, was allocated 454,545 shares under the transaction. Following completion, HealthCap will own a total of 6,165,378 shares, representing 9.32% of the company's issued share capital.

DNB Markets and Jefferies International Ltd. acted as joint global coordinators and joint book runners, with ABG Sundal Collier ASA acting as joint book runner.

As of Oct. 17, US$1 was equivalent to 9.17 Norwegian kroner.