Nykode Therapeutics makes $45 private placement

25 October 2023

Norway’s clinical-stage biopharmaceutical company Nykode Therapeutics (Euronext Growth (Oslo): VACC) today announced that its private placement has been successfully placed, raising around 505 million Norwegian kroner (~$45 million) in gross proceeds through the allocation of 29,549,400 new shares at a subscription price of 17.10 kroner per share.

The private placement was multiple times oversubscribed and saw significant international investor participation, said Nykode. In early trading of the shares on the Euronext, they gained 2.5% to 1.67 euros.

Vaccibody, a Norway-based pioneer in the neoantigen cancer vaccine space, in 2019 changed its name to Nykode Therapeutics, and at the same time entered into a license and collaboration agreement with US company, Regeneron (Nasdaq: REGN), to develop vaccines against cancer and infectious diseases. The legacy company also entered into a collaboration with Roche’s (ROG: SIX) Genentech unit.

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