Watrium continues its support of Oslo-listed Ultimovacs ASA through participation in a NOK 160 million private placement in the pharmaceutical company.
Ultimovacs is developing novel immunotherapies against cancer. The net proceeds of the private placement will secure Ultimovacs’ funding of its part of the expected project costs in the new randomized phase II trial to evaluate the company’s universal cancer vaccine, UV1, in collaboration with a leading Big Pharma company and a European oncology clinical trial group.
Watrium, represented on the Ultimovacs ASA board of directors by Kristin Wilhelmsen, was allocated 119,650 shares in the private placement. Following the private placement, Watrium holds an aggregate of 1,740,575 shares, corresponding to 5.4% of the total number of shares and votes in the company.
Watrium first invested in Ultimovacs in 2016, subsequently doubled its shareholding in October 2017, and acted as one of the underwriters in the IPO in June 2019.
For further details, see the stock exchange announcement from Ultimovacs.