BRIEF—Asarina Pharma is listed on Nasdaq First North

Karolinska Development's portfolio company Asarina Pharma will today be listed on Nasdaq First North in Stockholm.

In connection with the listing, Asarina Pharma is issuing 6.8 million shares.

The issue price of 21 Swedish kronor gives Asarina Pharma a pre money valuation of 172 million kronor ($19.5 million).

Conditioned that the over-allotment option of an additional 0.35 million shares is fully exercised, Asarina Pharma will be provided with a total of 150.2 million kronor before issue costs.

Asarina Pharma is a Swedish biotech company focused on chronic diseases associated with the menstrual cycle.

The portfolio company is developing the drug candidate sepranolone as a treatment for premenstrual dysphoric disorder (PMDD) and premenstrual migraine.

A Phase IIb study is currently underway in PMDD with expected completion by the end of 2019.

Furthermore, Asarina Pharma is planning a clinical Phase IIa study in menstrual migraine for the first half of 2019.

Karolinska Development is a passive investor in Asarina Pharma and will have an ownership of 1.2% in the company after the share issue and assuming that the over-allotment option is fully exercised.