Correction: Private placement of 25,000,000 new shares fully subscribed – gross proceeds of DKK 33.5 million, to BioPorto A/S
Summary
This support enables the next steps in our strategy and drives growth through financing new clinical trials to seek FDA clearance for ProNephro AKI NGAL for adult use in the United States and further building the commercial platform. Going forward, we will investigate alternative financing options to optimize shareholder value.The aggregate subscription price for the 25,000,000 new shares of DKK 33,505,000 is scheduled to be paid no later than on April 25, 2025. The Company uses its expertise in antibodies and assay development, as well as its platform for assay development, to create a pipeline of novel and compelling products that focus on conditions where there is significant unmet medical need, and where the Companys tests can help improve clinical and economic outcomes for patients, providers, and the healthcare ecosystem.The Companys flagship products are based on the NGAL biomarker and designed to aid in the risk assessment and diagnosis of Acute Kidney Injury, a common clinical syndrome that can have severe consequences, including significant morbidity and mortality, if not identified and treated early. The Company markets NGAL tests under applicable registrations including CE mark in several countries worldwide.BioPorto has facilities in Copenhagen, Denmark and Boston, MA, USA. Forward-looking statements include statements regarding the intent, belief or current expectations with respect to the Companys expectations, intentions and projections regarding its future performance including the Companys Guidance for 2025; currency exchange rate fluctuations; anticipated events or trends and other matters that are not historical facts, including with respect to implementation of manufacturing and quality systems, commercialization of NGAL tests, and the development of future products and new indications; concerns that may arise from additional data, analysis or results obtained during clinical trials; and, the Companys ability to successfully market both new and existing products.