Bionor provides update on funding
(Oslo, Norway, 20 June 2016) Bionor Pharma ASA (OSE:BIONOR) announced today, that the Board contemplates to launch a private placement of up to about NOK 70 million to be conducted within the end of this month. Further details on exact timing and structure of this transaction will be disclosed when the result of a pre-sounding phase has been concluded.
This announcement follows the stock exchange announcement as of 31 May 2016, in which it was disclosed that the Board had decided that the company's long-term funding initially would be covered by an equity offering to fund the company through the following 6-12 months.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Unni Hjelmaas, Acting CEO, +47 915 19 651, email@example.com
Jørgen Fischer Ravn, VP Investor Relations & Communications, +45 2030 3903, firstname.lastname@example.org
Bionor Pharma is a Norwegian biopharmaceutical company focused on advancing its proprietary therapeutic vaccine Vacc-4x in combination with other medicines toward a functional HIV cure. The company believes it has first mover potential based on clinical results to date and early adoption of now recognized clinical strategy. In December 2015, Bionor announced that the HIV ’Shock & Kill’ trial REDUC with Vacc-4x and romidepsin successfully met its primary endpoint by reducing latent HIV reservoir and further demonstrated control of viral load. Bionor currently retains full ownership rights to Vacc-4x, i.e., the upside potential from partnering or licensing remains with the company’s shareholders. Bionor is listed on Oslo Børs (OSE:BIONOR). More information about Bionor is available at www.bionorpharma.com.