The Board of Directors of Vicore believes that there is a value in having existing shareholders participating in the Directed Share Issue. The net proceeds will be used primarily towards expanding and accelerating development of the ATRAG platform.

“We are delighted for the continued support from our existing investor Invus, and we would like to welcome our new investor Capital Group,” said Ahmed Mousa, Chief Executive Officer of Vicore. “This investment, together with the recently closed rights issue, allows us to execute the expanded clinical Phase 2b ASPIRE study in IPF, perform Phase 3 preparatory activities, including manufacturing, as well as accelerate development of the ATRAG platform beyond buloxibutid, and further extend our cash runway.”

The net proceeds from the Directed Share Issue will primarily be used towards expanding and accelerating development of the ATRAG platform to further establish Vicore’s position and franchise in IPF and the broader range of pulmonary fibrosis indications, as well as in other commercially compelling conditions where AT2 receptor agonism can play a transformative role for patients.

Vicore Pharma raises approximately SEK 782 million

The company has also announced the final outcome in the rights issue that was announced on 10 September 2024. The final outcome in the Rights Issue shows that the Rights Issue was oversubscribed. Through the Rights Issue, Vicore will receive total proceeds of approximately SEK 782 million in total before transaction costs.

“We are very pleased with the strong support from our shareholders and new investors that participated in this capital raise, allowing us to reach our next major inflection point,” says Ahmed Mousa, CEO of Vicore. “The proceeds from this financing put us in a strong position to execute our ongoing Phase 2b clinical trial that will provide further evidence that buloxibutid has disease-modifying potential in IPF.”