Moll Wendén advises Scandinavian ChemoTech AB in an issue of units

life-science biotech

Moll Wendén advises Scandinavian ChemoTech AB in an issue of units amounting to approximately SEK 20.1 million with preferential rights for existing shareholders.

If the rights issue is fully subscribed, the company will initially raise approximately SEK 20.1 million before deduction of costs related to the rights issue. Upon full subscription and exercise of the warrants included in the issued units, the company will be provided additional funding of up to approximately SEK 40.1 million before deduction of costs related to the rights issue.

ChemoTech is a medical technology company based in Lund and was founded in 2015 by experts in surgical oncology and clinical development. The company has developed a new patented treatment available for humans and animals with malignant tumours (cancer). The method aims to significantly enhance the absorption of chemotherapy only in the areas which are to be treated and where the cancer cells are located. This enables cancer treatment with low chemotherapy doses, in comparison to conventional cancer therapies.

ChemoTech’s business idea is developing and marketing cost-efficient innovations and solutions for treatment of different types of cancer for both humans and animals, by decreasing the side effects and unwanted destruction of healthy tissue. The company’s B share is listed on Nasdaq First North Growth Market and is traded under the ticker CMOTEC B. Moll Wendén acted as legal advisor and Mangold Fondkommission AB acted as financial adviser as well as issue agency to ChemoTech in connection with the preferential rights issue.

Moll Wendén’s team has mainly consisted of Henric Stråth (responsible partner), Alexandra Johansson and Alexander Blom Vigsø.

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