Lipigon share issue oversubscribed ahead of March stock market launch

A new share issue in Umeå-based Lipigon Pharmaceuticals that was issued ahead of a listing on the Nasdaq First North Growth Market has exceeded all expectations. The listing was oversubscribed by 479 per cent, raising SEK 235 million spread over more than 9,000 investors.

“We are delighted and extremely proud. This capital injection gives us the ability to implement our development plan without having to compromise”, says Stefan K Nilsson, CEO of Lipigon.

Investments in the Swedish pharmaceutical company came from both the public as well as anchor investors who signed investment commitments. Due to the high demand, the Lipigon board took advantage of an additional allotment of shares to raise a further SEK 5 million. A total of approximately SEK 55 million will now go to the company before share issue costs are accounted for, and it welcomes 1,950 new shareholders.

The first trading day for Lipigon's shares and warrants on Nasdaq First North Growth Market takes place on March 1, 2021. CEO Stefan K Nilsson will ring the bell to formally open the stock exchange and signal the start of Lipigon’s stock market journey.

“It feels exciting. It’s a milestone for Lipigon and a proud moment for me personally and for Gunilla Olivecrona, who is a co-founder, board member and senior advisor. It is not every day you get to ring the stock market bell”, says Stefan K Nilsson.

He continues:

“We are very proud of the interest Lipigon has attracted and we welcome all our new shareholders. This capital injection gives us the ability to implement our development plans without having to compromise. There is a substantial need in our area of specialism, i.e. diseases that occur from the way fats are processed in the body. We want to address both the current and future medical needs for some of the most vulnerable patient groups”.

The capital received through the recent share issue will be used to finance the development of Lipigon's pharmaceutical projects towards preclinical and clinical studies. Lipigon also intends to expand its project portfolio, either through acquisitions and/or new development projects based on its own research.

“It feels so inspiring to become a part of the crowd of Umeå's market-listed companies. This is something we have been working towards for a long time, and now that the moment is here everything feels great. But this certainly doesn’t mean we can sit back and relax. Now is the time to shift into an even higher gear,” says Stefan K Nilsson.

For further information, please contact

Stefan K Nilsson, CEO Lipigon
+46 70 578 17 68,
stefan@lipigon.se

About Lipigon

Lipigon develops new treatments for patients with lipid-related diseases. The company benefits from 50 years of lipid research conducted at Umeå University in northern Sweden. Our primary focus is orphan drugs and niche indications. Lipigon's pipeline contains a total of four active programs; two RNA drug projects targeting blood lipids, ‘Lipisense’ and acute respiratory distress syndrome, a gene therapy project together with Combigene AB (publ) and a small molecule project in collaboration with HitGen, Inc.