Immunovia CEO and board members announce intention to fully exercise their TO2 warrants

LUND, Sweden, Dec. 18, 2024 /PRNewswire/ -- Immunovia (IMMNOV: Nasdaq Stockholm), the pancreatic cancer diagnostics company, today announced its CEO and board members intend to exercise all TO2 warrants they received in the company's rights issue that was announced on May 20, 2024.

Immunovia CEO Jeff Borcherding, one of the company's largest shareholders based on prior purchases, intends to exercise all warrants he purchased in the recent rights issue. In addition, all board members who currently hold TO2 warrants, Martin Møller, Hans Johansson and Peter Høngaard Andersen, have communicated their intention to fully exercise the TO2 warrants they hold. In total, holders of TO2, 1 651 608 warrants have communicated their intention to fully exercise their TO2 warrants during the upcoming exercise period.

"I will invest the funds to exercise all my TO2 warrants because I believe in our mission, our next-generation test, and our company," said Jeff Borcherding, Immunovia's CEO. "There is a tremendous unmet need for an accurate blood test to detect pancreatic cancer early in high-risk individuals. The recently announced CLARITI study results validate the accuracy of our next-generation test and prove we have the right test to meet this need. I have tremendous confidence in the Immunovia team to fulfill our mission, drive the commercial success of our test, and reward shareholders."

One (1) TO2 warrant entitles the right to subscribe for one (1) new share in the company at a subscription price corresponding to seventy (70) percent of the volume weighted average price of the company's share on Nasdaq Stockholm during the pricing period, however not less than the share's quota value and not more than an amount corresponding to 125 percent of the subscription price per share in the completed rights issue (SEK 0.63). The pricing period for the TO2 warrants began on December 12, 2024, and ends on December 27, 2024. The subscription price will thereafter be announced through a press release. Subscription of shares by exercise of TO 2 warrants will take place during the period from and including January 2, 2025, up to and including January 16, 2025.

For more information, please contact:

Jeff Borcherding
CEO and President
[email protected]  

Karin Almqvist Liwendahl
Chief Financial Officer
[email protected] 

Immunovia in brief 

Immunovia AB is a diagnostic company whose mission is to increase survival rates for patients with pancreatic cancer through early detection. Immunovia is focused on the development and commercialization of simple blood-based testing to detect proteins and antibodies that indicate a high-risk individual has developed pancreatic cancer. 

Immunovia collaborates and engages with healthcare providers, leading experts and patient advocacy groups to make its test available to individuals at increased risk for pancreatic cancer. 

USA is the world's largest market for detection of pancreatic cancer. The company estimates that in the USA, 1.8 million individuals are at high-risk for pancreatic cancer and could benefit from annual surveillance testing. 

Immunovia's shares (IMMNOV) are listed on Nasdaq Stockholm. For more information, please visit www.immunovia.com 

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SOURCE Immunovia AB