BioPorto (NASDAQ COPENHAG:BIOPOR) A/S has announced the completion of the fully subscribed rights issue it announced on March 7, 2022, raising gross proceeds of approximately DKK 100.4 million and estimated net proceeds of DKK 93.5 million.
“The proceeds from this rights issue will enable our team to focus on BioPorto (NASDAQ COPENHAG:BIOPOR)’s strategy to deliver the NGAL biomarker as the new standard of care in assessment of kidney health, prepare the company to commercialize and scale, and build a strong team dedicated to our mission,” said Tony Pare, BioPorto (NASDAQ COPENHAG:BIOPOR)’s chief executive officer in a statement.
BioPorto’s share capital has been increased by DKK 66,938,601 as a result of the completion of the offering. Accordingly, the nominal value of the company’s total share capital amounts to DKK 334,693,005 divided into 334.693.005 shares each carrying one voting right, corresponding to a total of 334,693,005 voting rights cf. section 32 of the Danish Capital Markets Act.
READ: BioPorto says rights issue fully subscribed
In a separate statement, BioPorto also said it has been notified by Aktieselskabet Arbejdernes Landsbankthat its aggregate holding of shares amounts to 27,915,529 corresponding to 8.34% of the share capital and voting rights in BioPorto A/S.
BioPorto is an in vitro diagnostics company focused on saving lives and improving the quality of life with actionable biomarkers – tools designed to help clinicians make changes in patient management.
The company uses its expertise in antibodies and assay development, as well as its platform for assay development, to create a pipeline of novel and compelling products that focus on conditions where there is significant unmet medical need, and where the Company’s tests can help improve clinical and economic outcomes for patients, providers, and the healthcare ecosystem.
BioPorto’s flagship product is The NGAL Test, which has been designed to aid in the risk assessment of Acute Kidney Injury, a common clinical syndrome that can have severe consequences, including significant morbidity and mortality if not identified and treated early. With the aid of The NGAL Test, physicians can identify patients potentially at risk of AKI more rapidly than is possible with current standard of care measurements, enabling earlier intervention and more tailored patient management strategies.
BioPorto is headquartered in Hellerup, Denmark and is listed on the NASDAQ Copenhagen stock exchange.
Contact the author at jon.hopkins@proactiveinvestors.com