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Circio plans to raise around
NOK 50-60 million in gross proceeds in a partially underwritten rights issue to be completed during Q2 2024 - The intended financing will provide twelve months of runway, enabling delivery of key circVec circular RNA platform milestones
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Members of Circio´s board and management have pre-committed to participate with around
NOK 2 million in the fundraising Atlas Capital Markets is supportive of, and intends to participate in, the financingRedeye AB is acting as financial advisor to Circio
"The board strongly believes in the potential of Circio´s unique circVec platform, and this intended fundraising will provide the company with the required capital to validate the significant advantage of the technology in gene therapy," said
Existing convertible bond investor
"Circio has now demonstrated technical validation for its circVec circular RNA platform both in vitro and in vivo and is pushing ahead to establish in vivo proof-of-concept for its novel circVec gene therapy formats," said Dr.
Circio will update the market in due time when the structure and timing of the intended transaction have been determined.
For further information, please contact:
Phone: +47 413 33 536
Email: erik.wiklund@circio.com
Phone: +34 683343811
Email: lubor.gaal@circio.com
About Circio
Building next generation RNA therapeutics
Circio Holding ASA is a biotechnology company developing novel circular RNA gene therapies and immunotherapy medicines.
Circio has established a unique circular RNA (circRNA) platform for genetic medicine. The proprietary circVec technology is based on a modular genetic cassette design for efficient biogenesis of multifunctional circRNA from DNA and viral vectors, which can be deployed in multiple disease settings. The circVec platform has demonstrated enhanced and more durable protein expression than classic mRNA vector systems, and has the potential to become the new gold-standard for DNA and virus-based therapeutics in the future. The circRNA R&D activities are being conducted by the wholly owned subsidiary
In addition, Circio is developing a cancer vaccine, TG01, targeting KRAS driver mutations. TG01 is currently being tested in three clinical trials: RAS-mutated pancreatic cancer and lung and non-resectable pancreatic cancer in US, and multiple myeloma in
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