Lysaker, Norway, June, 2010. PCI Biotech Holding ASA (PCI Biotech) has strengthened the company’s equity by NOK 90 million through a share issue of 2,250,000 shares with pre-emptive subscription rights for existing shareholders. The rights issue was fully guaranteed. The subscription price in the rights issue was NOK 40 per share. The subscription period for the rights issue expired 9 June, 2010, and the rights issue was oversubscribed by approximately 50 percent.
We are very satisfied with the share issue being oversubscribed. The capital increase of NOK 90 million will enable us to complete the planned clinical development for 3 to 4 selected cancer indications. When you take into account this strengthened cash position and the very promising results achieved so far in the ongoing Phase I/II study at University College Hospital in London, we are now well positioned for the further development of both our pipeline and PCI Biotech as a company”, says Per Walday, CEO, PCI Biotech.