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.
TO 2 was issued in connection with the Company's rights issue of units and directed issue of units in June 2020. The capital the Company can be provided through TO 2 amounts to a maximum of approximately SEK 16.4 million and is intended to finance the Company's clinical phase II study with the drug candidate IP2018.
Mikkel Hagel, Formue Nord, comments
We have for a long time followed Initiator Pharma's development and have a strong belief in the Company, the people behind the Company and the Company's future, and have therefore chosen to invest in Initiator Pharma again. It is our assessment that the Company is facing a bright and exciting future.
For further information about Initiator Pharma, please contact:
Claus Elsborg Olesen, CEO
Phone: +45 6126 0035
This information is the type of information that Initiator Pharma (Ltd.) is obligated to publish pursuant to the EU Market Abuse Regulation. The information was provided by the contact person above, to be published on the 11th of December 2020, at 20:20 (CET).
About Initiator Pharma
Initiator Pharma is a clinical-stage biotechnology company based in Aarhus, Denmark. The company’s main clinical Phase assets are IPED2015, intended for patients with erectile dysfunction, and IP2018, for the treatment of psychogenic erectile dysfunction. The treatments both represent First in Class treatments for psychogenic and organic ED, respectively, and are expected to improve the quality of life for a growing number of patients who are not responding to or cannot be treated with existing drugs on the market. Read more on www.initiatorpharma.com.
About Erectile dysfunction (ED)
Erectile dysfunction is sexual dysfunction characterized by the inability to develop or maintain an erection of the penis during sexual activity. ED affects more than 150 million men worldwide and that number is expected to increase to more than 320 million by 2025, fuelled by aging demographics and increasing prevalence of lifestyle diseases such as diabetes, and performance anxiety. The number of ED patients is most likely grossly underestimated, particularly for Psychogenic patient segment. ED patients have decreased quality of life due to various psychosocial factors such as low self-esteem, depression, sadness, anger, frustration, anxiety, medication, and relationship problems (1,2,3). Erectile dysfunction can be divided into two main categories – Organic and Psychogenic ED – that requires different treatments. Initiator Pharma is developing IPED2015 and IP2018, respectively, for these similar but separate patient segments.