Company announcement - No. 38 /
2016
THIS ANNOUNCEMENT
IS NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA, JAPAN OR
AUSTRALIA
This announcement is not an offer
of securities for sale in the United States or any other
jurisdiction. Securities may not be sold or offered in the United
States unless they are registered or are exempt from registration
under the U.S. Securities Act of 1933, as amended. Zealand does not
intend to register any portion of the Offering in the United States
or to conduct a public offering of securities in the United
States.
Zealand raises DKK 143 million / $22 million through a
private placement of new shares
Copenhagen, 30 September 2016
- Zealand Pharma ("Zealand") (OMX: ZEAL) announced today that it
has raised DKK 143 million / $22 million through an offering of new
shares at market price (the "Offering"). The Offering was announced
on 29 September 2016 in Company announcement no. 36 / 2016.
Results of the
Offering
A total of 1,475,221 new shares have been subscribed in the
Offering by biotech specialist investors and other institutional
investors in the U.S. and Europe. Approximately 2/3 of the Offering
was subscribed by U.S. investors and the rest by European
investors. The subscription price of the new shares has been
determined at DKK 96.90 in an accelerated book building
process.
Use of proceeds
Zealand intends to use the proceeds of the Offering to fund the
continued development of key clinical stage product candidates in
its proprietary pipeline, including:
-
Glepaglutide* (ZP1848), a long-acting GLP-2
analog for the treatment of short bowel syndrome (SBS), which is in
clinical Phase II development with results expected in
mid-2017
-
Dasiglucagon* (ZP4207), a novel liquid stable
glucagon analog, as single-dose version, which has completed Phase
II with positive results for its use as a ready-to-use rescue pen
for severe hypoglycemia in diabetes
-
Dasiglucagon* (ZP4207) as multiple-dose version,
which is in preparation for clinical Phase II to be initiated later
in 2016 as an essential component in a dual-hormone artificial
pancreas system, representing a potential paradigm shift in the
treatment of diabetes
Zealand's license collaboration with Sanofi and
the expected remaining milestone payments and royalties on global
sales of products under the collaboration remain important mid- to
long-term sources of funding.
* Glepaglutide and dasiglucagon are proposed
International Nonproprietary Names (pINNs).
Effect on Zealand's share
capital
After the new shares are subscribed, the capital increase will
represent 6.0% of Zealand's current share capital of DKK
24,587,032. The new shares will account for 5.7% of Zealand's share
capital upon completion of the capital increase.
After registration of the 1,475,221 new shares,
the nominal share capital of Zealand will amount to DKK 26,062,253
divided into 26,062,253 shares of nominal value DKK 1 each.
Registration of the new shares
and official listing
Expected timetable for the Offering |
Expected date of payment against delivery |
4 October 2016 |
Expected date of registration of the capital increase with
the Danish Business Authority |
4 October 2016 |
Expected date for admission for listing of the new
shares |
5 October 2016 |
*****
For further information,
please contact:
Britt Meelby
Jensen, President and Chief
Executive Officer
Tel: +45 51 67 61 28, email:
bmj@zealandpharma.com
Hanne Leth Hillman,
Senior Vice President, Investor Relations and
Communications
Tel: +45 50 60 36 89, email:
hlh@zealandpharma.com
About Zealand Pharma A/S
Zealand Pharma A/S (Nasdaq Copenhagen: ZEAL)
("Zealand") is a biotechnology company focused on the discovery,
design and development of innovative peptide-based medicines.
Zealand has a portfolio of medicines and product candidates under
license collaborations with Sanofi, Boehringer Ingelheim and
Helsinn and a pipeline of proprietary product candidates, which
primarily target specialty diseases with significant unmet
needs.
The company's first invented medicine,
lixisenatide, a once-daily prandial GLP-1 analog for the treatment
of type 2 diabetes, is licensed to Sanofi. Lixisenatide is marketed
as Lyxumia® outside the
United States and approved as AdlyxinTM in the
United States. Lixisenatide has been developed in a fixed-ratio
combination with Lantus® (insulin
glargine) which product is under regulatory review in the United
States and in Europe.
Zealand's proprietary pipeline includes: Dasiglucagon* (ZP4207) as
single-dose rescue treatment for acute, severe hypoglycemia
(Phase II); Glepaglutide* (ZP1848) for
treatment of short bowel syndrome (Phase II); Dasiglucagon* (ZP4207) multiple-dose version intended
for use in a dual-hormone artificial pancreas system for better
hypoglycemia control and diabetes management (in preparation for
Phase II); and other earlier stage clinical and preclinical peptide
therapeutics.
Zealand is based in Copenhagen (Glostrup),
Denmark. For further information about the company's business and
activities, please visit www.zealandpharma.com or follow Zealand on
Twitter @ZealandPharma.
* Dasiglucagon and glepaglutide are proposed International
Nonproprietary Names (pINN)
Forward Looking
Statement
This announcement contains forward-looking statements that reflect
management's current views with respect to Zealand's product
candidates' development, clinical and regulatory timelines, market
opportunity, potential financial performance and other statements
of future events or conditions. Although Zealand believes that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct. Accordingly, results could differ
materially from those set out in the forward-looking statements as
a result of various factors, many of which are beyond Zealand's
control. No reliance should be made on such forward-looking
statements.
Important
Disclaimer
This announcement is not a prospectus and
investors should not purchase any securities referred to in this
announcement on the basis of this announcement. The information
contained in this announcement is for information and background
purposes only and does not purport to be full or complete. No
reliance may or should be placed by any person for any purposes
whatsoever on the information contained in this announcement or on
its completeness, accuracy or fairness. The information in this
announcement is subject to change. No obligation is undertaken to
update this announcement or correct any inaccuracies, and the
distribution of this announcement shall not be deemed to be any
form of commitment on the part of Zealand to proceed with any
transaction or arrangement referred to herein. This announcement
has not been approved by any competent regulatory
authority.
This announcement does not
constitute or form part of any offer or invitation to sell or
issue, or any solicitation of any offer to purchase or subscribe
for any shares or any other securities nor shall it (or any part of
it) or the fact of its distribution, form the basis of, or be
relied on in connection with, or act as an inducement to enter
into, any contract or commitment whatsoever. The transactions
described in this announcement and the distribution of this
announcement and other information in connection with the
transactions in certain jurisdictions may be restricted by law and
persons into whose possession this announcement, any document or
other information referred to herein comes should inform themselves
about, and observe, any such restrictions. Any failure to comply
with these restrictions may constitute a violation of the
securities laws of any such jurisdiction.
This announcement is not an offer
of securities for sale in the United States or any other
jurisdiction. Securities may not be sold or offered in the United
States unless they are registered or are exempt from registration
under the U.S. Securities Act of 1933, as amended. Zealand does not
intend to register any portion of the Offering in the United States
or to conduct a public offering of securities in the United States.
Copies of this announcement are not being, and should not be,
distributed in or sent into the United States. It may be unlawful
to distribute these materials in certain
jurisdictions.
This announcement does not contain or constitute
an offer of, or the solicitation of an offer to buy or subscribe
for, securities to any person in Australia, Canada, South Africa or
Japan, or in any jurisdiction to whom or in which such offer or
solicitation is unlawful. There is no intention to register any
securities referred to herein in Australia, Canada, South Africa or
Japan.
This announcement has been
prepared on the basis that any offers of securities referred to
herein in any Member State of the EEA will be made pursuant to an
exemption under the Prospectus Directive from the requirement to
publish a prospectus for offers of such securities. Accordingly any
person making or intending to make any offer in a Member State of
securities which are the subject of the Offering contemplated in
this announcement may only do so in circumstances in which no
obligation arises for Zealand or any of financial intermediary to
publish a prospectus pursuant to Article 3 of the Prospectus
Directive, as amended, in relation to such offer. Neither Zealand
nor any financial intermediary has authorized, nor do they
authorize, the making of any offer of the new shares in
circumstances in which an obligation arises for Zealand or a
financial intermediary to publish prospectus for such offer. This
announcement is an advertisement and not a prospectus for the
purposes of applicable measures implementing Directive 2003/71/EC.
The information set forth in this announcement is only being
distributed to, and directed at, persons in Member States of the
EEA who are qualified investors ("Qualified Investors") within the
meaning of Article 2(1)(e) of the Prospectus Directive.
This announcement is only being
distributed to, and is only directed at, persons in the United
Kingdom that (i) are "investment professionals" falling within
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended, the "Order"), (ii)
are persons falling within Article 49(2)(a) to (d) ("high net worth
companies, unincorporated associations, etc.") of the Order, or
(iii) are persons to whom an invitation or inducement to engage in
investment activity (within the meaning of section 21 of the
Financial Services and Markets Act 2000) in connection with the
issue or sale of any securities may otherwise lawfully be
communicated or caused to be communicated (all such persons
together being referred to as "relevant persons").
None of Zealand, Bryan, Garnier
& Co. or any of their respective subsidiary undertakings,
affiliates or any of their respective directors, officers,
employees, advisers, agents or any other person accepts any
responsibility whatsoever for, or makes any representation or
warranty, express or implied, as to the truth, accuracy,
completeness or fairness of the information or opinions in this
announcement (or whether any information has been omitted from the
announcement) or any other information relating to Zealand or
associated companies, whether written, oral or in a visual or
electronic form, and howsoever transmitted or made available or for
any loss howsoever arising from any use of this announcement or its
contents or otherwise arising in connection therewith.
This announcement does not
constitute an investment recommendation. The price and value of
securities and any income from them can go down as well as up and
you could lose your entire investment. Past performance is not a
guide to future performance. Information in this announcement
cannot be relied upon as a guide to future performance.
Bryan, Garnier & Co. is
acting for Zealand and for no-one else in relation to the Offering,
and will not be responsible to any other person for providing the
protections afforded to their clients nor for providing advice in
connection with the matters contained in this announcement. No
representation or warranty, express or implied, is or will be made
as to, or in relation to, and no responsibility or liability is or
will be accepted by Bryan, Garnier & Co. or by any of their
affiliates or agents, as to or in relation to, the accuracy or
completeness of this announcement or any other written or oral
information made available to or publicly available to any
interested party or its advisers, and any liability therefore is
expressly disclaimed.
38-16_0930_Zealand raises DKK 143
mill in private placement
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announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Zealand Pharma via Globenewswire