Aqilion has completed a rights issue
AQILION AB (publ) announces today that the company has completed a rights issue with preferential rights for existing shareholders. The company will thus receive SEK 30.5 million after issue costs.
The rights issue was carried out as an issue of units. Each unit contains four (4) shares and two (2) warrants of the subscription series TO1. In addition to the initial issue, the company may, subject to full exercise of share warrants of series TO1, receive an additional amount of approximately SEK 20.2 million. Share warrants of series TO1 have an exercise period February – March 2023.
Fåhraeus Start Up and Growth Fund and LMK Forward together with Grenspecialisten, Nocroc Ventures and Mikael Lönn acted as leading investors in the issue which was subscribed to 90% with priority via subscription rights.
“Our new share issue, which was subscribed by both existing and new investors, gives us the opportunity to progress our preclinical and clinical programs. We are happy about the great interest in our pipeline focusing on drug candidates against four differentiated targets for the treatment of chronic inflammatory diseases," says Sarah Fredriksson, CEO of Aqilion.
About Aqilion’s pipeline
Aqilion has four programs in various phases of development in its pipeline. All programs focus on developing novel innovative treatments for chronic inflammatory diseases for which few or no treatments are available and where there is currently a clear patient need.
The Regulus program’s AQ280, a selective JAK1 inhibitor, is initially being developed as a potential treatment for EoE and a Phase 1 safety study is ongoing. The Girtab program was developed in-house and Aqilion owns all intellectual property rights. The aim of the Girtab program is to develop a new treatment for chronic inflammatory bowel disease (IBD). The preclinical Alnitak program is developing an oral medication that specifically binds to and inhibits the TAK1 (MAP3K7) target protein, which has been shown to serve as a master regulator of inflammatory signaling. The program has been expanded and resources are also being invested in a project that focuses specifically on substances with the potential to treat inflammatory conditions of the central nervous system (CNS). The Polaris program has a new pharmacological strategy for selectively modulating NLRP3 inflammasome signaling and has the potential to be first in its class with a novel mechanism of action. Polaris is in the early research phase. More information is available on the website at pipeline.
Aqilion is a biotech company that focuses on developing new innovative treatments for diseases caused by chronic inflammation and dysfunctional immune reactions such as autoimmune diseases. The company is mainly active in the early phases of drug discovery, from idea to early clinical development.
Aqilion combines its experience from major pharmaceutical companies with the drive and entrepreneurship of small growth companies. With solid experience in business development in innovative biotech and pharmaceutical companies, the company’s experienced team and Board of Directors have successfully navigated the process from drug discovery to market.
AQILION AB (publ) is a Swedish public limited company headquartered in Helsingborg, Sweden. www.aqilion.com