Regenics AS completes first tranche of a NOK 54 M private placement to initiate Collex® clinical trials

Regenics raises NOK 20.4 million in new equity, in the first of a total NOK 54 million two-tranche investment, from Nordic Blue hf., a newly formed Icelandic holding company focusing on investments in Blue Economy.

OSLO, Norway, Aug. 13, 2024 /PRNewswire/ -- Regenics AS, a private Norwegian biotechnology company based in Oslo (the "Company"), today announced that it has closed the first tranche of a non-brokered private placement with Nordic Blue hf. by issuing up to 2,523,647 units (the "Units") at a price of NOK 8.1 per Unit which represent aggregate gross proceeds of NOK 20.4 million. Nordic Blue will after the first tranche own 20.0 % of outstanding shares in Regenics.

Each Unit consists of one common share in Regenics AS and one- and one-half share purchase warrants (a "Warrant"). Each Warrant will entitle Nordic Blue to purchase one common share, at a price of NOK 9 per unit, until December 31^st 2024, representing an additional capital raise of 34 MNOK.

The Company anticipates closing the second and final tranche of the private placement within the next six months. The closing of the final tranche is subject to the Company achieving certain company and product development milestones.

In connection with the Private Placement, the Company, two of the largest current investors, and Nordic Blue have entered into an Investor and Shareholder Agreement whereby the Company has granted certain rights to Nordic Blue including a nomination right with respect to two directors on the board of the Company. The Haf Investments fund, managed by Iceland Funds, is the largest investor in Nordic Blue, and will take one of the board positions in Regenics.

"We are excited to bring in such knowledgeable investors that have had previous success in the field of bio tech and who recognize the potential that our company and products represent," said Jan A. Alfheim, Board Chair of Regenics. "Their investment and participation at the board level will be of great value in helping Regenics bring our first lead candidate Collex® into a phase one clinical trial in treatment of burns and further onto the market."

Brynjolfur Eyjolfsson, Fund Manager, Haf Investments and chairman of Nordic Blue hf. commented, "We are excited to embark on this journey with Regenics, which aligns perfectly with the marine biotech emphasis in the investment strategy of the Haf Investment fund. We believe that Regenics has established a strong foundation and has an enormous potential in the field wound care. Partnering with experienced investors to pave the way for success is decisive and we look forward to the journey ahead."

About Collex^®

Collex® is an advanced wound dressing designed to aid healing of partial thickness burns and chronic wounds, including diabetic and chronic vascular ulcers. With Collex®, Regenics aims to redefine the current standards of care in wound treatment.

Collex® is a hydrogel wound dressing constructed with all-marine ingredients, sourced from the Norwegian coast. One of Regenics' major innovations, HTX™, is a key component of Collex® and is sourced and purified from unfertilized salmon roe. Collex® is currently in the late pre-clinical stage, with significant beneficial effects on wound healing rates demonstrated.

About Regenics

Regenics AS is a private Norwegian biotechnology company based in Oslo. The company is developing a range of wound care products, with a current pipeline of two medical devices and one novel drug product candidate to meet unmet medical needs in a multi-billion dollar wound care market.

Target indications for Regenics product candidates include burns, diabetic wounds, chronic wounds, and enzymatic wound debridement.

About Nordic Blue

Nordic Blue Is a a newly formed Icelandic holding company focusing on investments in Blue Economy, with versatile shareholders, with many of the investors having a background in marine biotechnology, pharmaceuticals and fisheries.

About Haf Investments

Haf Investments (IS Haf Fjárfestingar slhf.) invests in unlisted companies across the seafood value chain and in supporting industries. The investment strategy covers five categories, from fishing and aquaculture to high technology, infrastructure development, marketing and marine biotechnology. The largest investors in the fund are Icelandic pension funds together with UR Seafood (Útgerðarfélag Reykjavíkur hf.), which is a cornerstone investor in the fund, and Brim hf. The fund is managed Iceland Funds hf., which is the first and one of the largest Icelandic fund management companies, established in 1994. It is a wholly owned subsidiary of Íslandsbanki and is supervised by the Icelandic Financial Supervisory Authority (FME). The company provides investments offering for individuals, companies, municipalities, pension funds and other institutional investors. 

For further information, please contact:

Jan A. Alfheim, Board Chair
Cell: +47 46 44 00 45
Email: jal-alfh@online.no 

or

Karl Bryn, CEO
Cell: +47 92 80 93 90
Email: karl@regenics.no 

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