Cirio advises Abliva in connection with its fully guaranteed rights issue and a directed issue of convertible bonds

Cirio has acted as legal adviser to Abliva AB (publ) in connection with its fully guaranteed rights issue of SEK 46 million and a directed issue of convertible bonds of SEK 42 million.

The net proceeds from the rights issue are intended to be used to fund additional clinical activities for the KL1333 program, including initiating new countries for expansion of the FALCON-study during Wave 2, as well as financing working capital and general corporate purposes.

Provided that the interim data from the KL1333 Phase II study is positive, i.e. non futile, the company will raise an additional SEK 42 million from the convertible bonds. The announcement of the result is expected in mid-2024 and the net proceeds from the convertible bonds are intended to fund additional clinical, non-clinical, and CMC (manufacturing) activities for the KL1333 program, as well as financing working capital and general corporate purposes.

Abliva develops medicines for the treatment of mitochondrial disease. This congenital, rare and often very severe disease occurs when the cell’s energy provider, the mitochondria, do not function properly. The portfolio includes projects at different stages and ranges from early discovery phase to clinical phase.

Cirio’s team is headed by Annika Andersson, together with Sebastian Iso-Kamula, Julia Alander and Fredrik Billing (Capital Markets and Public M&A).

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