Cantargia, a Sweden-based biopharmaceutical company backed by life sciences business Lubio Science, has filed an initial public offering on the Nasdaq North First market in Stockholm, Sweden.
The company plans to raise an initial SEK 44.1m ($5.4m) from the share issue, which would be increased to more than $12.2m if additional option rights are taken up.
Cantargia develops antibody-based treatments for leukemia that are able to attack both cancer stem cells and mature cancer cells, and is a spin-out of Lund University. It raised SEK 7m from Lubio and Sunstone Capital in 2013.
The proceeds will be used to support pre-clinical activities, as well as Phase 1 and Phase 2a clinical trials for its product candidate. The offering will be implemented between January 27 and February 12. There is no brokerage.