Press Releases

PRESS RELEASE

23 December 2020

Initiator Pharma A/S (INIT) today announces that individuals in the board and managemet exercise a total of 324 114 warrants for subscription of new shares, raising approx 1,3 SEKM in proceeds to the company. The number of issued shares increases by 324 114 and the share capital increases by 34 031,97 DKK.

On Tuesday, 15 December 2020, the exercise period for Initiator Pharma A/S (“Initiator Pharma” or “the Company”) warrants of series TO 2 (“TO 2”) ended. A total of 1,814,278 TO 2 were exercised. Initiator Pharma will thus receive a total of approximately SEK 8.9 million before issue costs. The capital received in connection with the warrant exercise enables Initiator Pharma to finance the completion of the Company’s clinical phase II study for the drug candidate Ip2018 and provides the Company with full financing until H1 2022.

Initiator Pharma A/S (“Initiator Pharma” or “the Company”) earlier today announced that persons from the Board and management of the Company have exercised warrants of series TO 2 (“TO 2”). Initiator Pharma can now announce that the largest warrant holder, Formue Nord Markedsneutral A/S (“Formue Nord”), has informed the Company that Formue Nord has exercised all their warrants of series TO 2, to an amount of approx. SEK 4.6 million, corresponding to approx. 30 percent of the total issue volume.

Initiator Pharma A/S (“Initiator Pharma” or “the Company”) exercise period for warrants of series TO 2 (“TO 2”) is currently ongoing and it ends on Tuesday, December 15, 2020. The Company can today announce that members of the Board and management has exercised TO 2 for a total amount corresponding to approximately SEK 0.5 million. Among those who have exercised their TO 2 are, among others, the Company’s CEO Claus Olesen and chairman Magnus Persson.

Initiator Pharma A/S, a clinical-stage biotech company, today announced the appointment of Dr. Allan Wehnert as SVP, Head of Clinical and R&D Strategy and Portfolio Management, and the formation of a Scientific and Clinical Advisory Board (SCAB). The strengthening of the clinical expertise is a direct result of Initiator Pharma’s progress in clinical development of the lead assets IPED2015 and IP2018.

Initiator Pharma A/S, a clinical-stage biotech company, announced that Erik Penser Bank has made an analysis of the company. Erik Penser Bank’s valuation indicates a justified value of SEK 11-12 (WACC 16%). The valuation rests on the company’s two clinical projects, with IPED2015 and IP2018. For the full analysis, please follow this link ( https://epaccess.penser.se/analys/pa-uppgang/ ).

Initiator Pharma A/S, a clinical-stage biotech company, today announced that the first patient was dosed in its Phase 2a clinical trial with IP2018 to treat psychogenic sexual dysfunction. IP2018 is Initiator Pharma’s second Phase 2 asset and is complementary to IPED2015 for which positive Phase 2a data on Organic Erectile dysfunction was reported earlier this year. Initiator Pharma has received a commitment from Innovation Fund Denmark to support the clinical development of IP2018.

Initiator Pharma A/S, a clinical-stage biotech company today announced that it has secured funding of the continued Phase 2 clinical development of IPED2015 in organic erectile dysfunction (ED), through a convertible credit agreement worth up to 23 MSEK with the UK’s largest independent clinical development organization, MAC Clinical Research. The agreement gives MAC Clinical Research the right to convert the credit into Initiator Pharma shares up to approximately 23 MSEK at a share price of 7.5 SEK upon the full completion of a planned Phase 2b study.

Today, the 24[th] of November 2020, the exercise period for Initiator Pharma A/S (“Initiator” or the “Company”) warrants of series TO 2 that were issued in connection with the Company’s latest rights issue of units and directed issue of units commences. The exercise period runs until the 15[th] of December 2020. Upon full exercise of warrants, Initiator Pharma will receive approximately SEK 16.4 million before issue costs – capital that will finance the completion of the Company’s clinical phase IIa study. Sedermera Fondkommission is the financial adviser and Markets & Corporate Law Nordic AB is the legal adviser in connection with the warrant exercise.