Lipidor – Announcement of short-term funding
STOCKHOLM, Sweden, 29th June 2023 – Lipidor AB (publ) (Nasdaq First North Growth Market: LIPI) announces that financing of SEK 2 million is being provided through the divestment of holdings in the affiliated company Emollivet. A short-term loan of 1 million SEK has also been signed.
On 22nd June, it was announced that the Swedish Medical Products Agency confirmed the clinical plan for a new version of AKP02, namely AKP02G2. Lipidor continues to aim for a new Phase III study starting in 2024. The short-term financing allows for continued preclinical work and planning of the clinical study. After the summer, the intention is to start the process for a larger financing round.
A total of 274 shares in the associated company Emollivet have been sold to Cerbios-Pharma SA at a price per share of SEK 7,290. The price has been determined through an external valuation of Emollivet performed by independent advisors. The transaction provides Lipidor with 2 million SEK, and after the transaction Lipidor still owns 13% of the shares in Emollivet.
Lipidor has also entered into a loan agreement of up to 1 MSEK with the shareholder Råsunda Förvaltning AB. Interest of one and a half (1.5%) per cent per 30-day period or part thereof is calculated on the funds raised, and the loan is to be settled on 30 November.
