Ultimovacs is a pharmaceutical company developing novel immunotherapies against cancer. The lead product candidate is UV1, a peptide-based vaccine inducing a specific T cell response against the universal cancer antigen telomerase. Ultimovacs intends to use net proceeds from the IPO to fund a Proof of Concept Phase II study in malignant melanoma, preclinical development of second product candidate and the TET platform technology.
Watrium acted as one of the underwriters in the fully underwritten IPO and was allocated 800,000 shares. Watrium became a shareholder of Ultimovacs in August 2016. In October 2017, Watrium doubled its shareholding through a private placement
Watrium’s Kristin Wilhelmsen is a member of the Board of Directors of Ultimovacs ASA. She commented: “We are glad to contribute to the funding of a large, international randomized trial to document the clinical effect of the vaccine. Øyvind and the rest of the Ultimovacs team has done a truly outstanding job, and we look forward to follow the future development”
Øyvind Kongstun Arnesen, CEO of Ultimovacs, commented: “I have been with Ultimovacs since the company was established. We have worked hard over the last seven years to reach the current position where we see strong signals of clinical effect of our universal cancer vaccine. Watrium and the other owners have strongly supported Ultimovacs throughout the life of the company. With strong financial support from current and new shareholders, Ultimovacs is now taking the important next step in developing the promising cancer vaccine.”
For full details of the successful completion of the IPO, see the stock exchange announcement from Ultimovacs.