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Immunovia to sell up to 20% of company in share issue

Sweden's Immunovia AB plans to issue up to 3,463,611 shares, or 20% of its stock, in a direct transaction with local and international investors that will be priced June 8.

The funds will be used to commercialize the company's IMMray technology, which is being developed to diagnose cancer and autoimmune diseases

The company's board has an option to cancel the share issue, which stockholders already approved May 3.

Vator Securites AB is the sole book runner for the transaction, with Baker & McKenzie as legal adviser.