Poland’s Molecure completes 50 million zloty SPO

Polish clinical-stage biotech Molecure (WSE: MOC) revealed that it has successfully closed a secondary public offering (SPO) and entered into subscription agreements for all 2,776,000 H shares offered by way of private placement, within the authorized capital.

The issue price was set at 18 zloty, bringing the gross value of the offering to around 50 million zloty ($12 million), said Molecure, which is leveraging it unique expertise in medicinal chemistry and biology to explore and develop first-in-class small-molecule drugs that directly modulate protein activity and mRNA function to treat a wide range of incurable diseases.

"We have successfully closed the H-share offering, which garnered significant interest from existing and new investors. We would like to thank all investors for participating in the offering and for the trust they have placed in Molecure. During the offering, we encountered a very good reception to our strategy and a positive evaluation of the company's growth potential, which translated into investor interest several times higher than the number of shares offered. Considering the current market conditions, we view the execution of the share issue as a remarkable achievement. The proceeds from the offering will be utilized to finance the advancement of Molecure's clinical and research programs, aimed at developing effective therapies to address numerous incurable diseases afflicting patients,” commented Molecure’s chief executive Marcin Szumowski.