Enzymatica's Board of Directors decides on a new rights issue of approximately SEK 130 million
Summary
The purpose of the Rights issue is to secure working capital for the business during the time that negotiations and new registrations take place on existing and new markets, to conduct in-depth studies on ColdZyme and to repay bridging loans. The Rights issue will be secured to 90 percent through subscription obligations and guarantee commitments.Background and reasonsFor the past three years, Enzymaticas management and board have conducted structured and planned work to prepare the Company for rapid international expansion. After several important advances in the first half of 2024, Enzymatica is better equipped than in a long time for profitable, broad and rapid growth.The corona pandemic had strong negative effects for the Company, among other things through largely non-existent sales to international partners since 2021. Together with the MDR certification (class III) of ColdZyme announced in March 2024, the studies in Kent and Innsbruck mean that the registration of Enzymaticas mouth spray in new markets can go easier and faster.In the USA, an expert panel at the FDA has concluded that there is a lack of sufficient scientific documentation for the ingredient phenylephrine in products against colds that are taken orally. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into the United States, Canada, Japan, South Africa, Australia or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law.