Ryvu Therapeutics allocated 4.76 million series J shares, raised 250.3 million from the offering

Ryvu Therapeutics has completed a public offering of series J shares, obtaining PLN 250.3 million gross from institutional and individual investors and BioNTech, the company announced. Together with funds secured from other sources, it will have approx. PLN 500 million to implement development plans for 2022-2024, it was emphasized.

“The Ryvu Therapeutics transaction was the largest public offering of shares on the Polish market since February 2022 and the largest ever capital raising transaction by a Polish biotechnology company. 40% of the shares from the issue went to BioNTech. The company specializing in immunotherapy, which in 2021 gained global recognition thanks to the development of the first Covid-19 vaccine, invested approximately PLN 94 million in the Ryvu project portfolio, becoming one of the company's largest shareholders, reads the release.

The offer included the president of the board of Ryvu Therapeutics, Paweł Przewięźlikowski, who acquired shares worth PLN 10 million, and the Augebit FIZ fund, whose investment committee includes Dr. Tadeusz Wesołowski, one of the first investors in Ryvu and a member of the Supervisory Board. The fund acquired shares worth PLN 13 million. One of the investors in the offer is also the Leukemia & Lymphoma Society Therapy Acceleration Program (LLS TAP), the world's largest, prestigious foundation whose goal is to fight blood cancer, with which Ryvu has been cooperating since 2017 on the development of the RVU120 project. LLS included in the offer shares worth about PLN 4.5 million, listed.

The largest investor in the completed issue of Ryvu was the German company BioNTech listed on NASDAQ (ca. USD 44 billion capitalization), becoming one of Ryvu's largest shareholders (ca. 8.3% share in the capital).

The allocation of the offered shares took place on 22 December this year. The anticipated date of starting quotations of series J shares is approximately one month. The size of the offering covered 4,764,674 series J shares. The company intends to allocate the funds obtained in the public offering to supplement the financing necessary to implement the development plans for 2022-2024:

– extensive development of the RVU120,

– support for the development of SEL24 by the Menarini group,

– focus on projects targeting the mechanism of synthetic mortality in cancer,

– acceleration of works in the portfolio of early-stage projects.

Ryvu Therapeutics was founded in 2007 (as Selvita). It is a Polish biotechnology company developing innovative small molecule compounds with therapeutic potential in oncology. Ryvu Therapeutics is listed on the main market of the Warsaw Stock Exchange.

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