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SenzaGen´s share issue oversubscribed – raises MSEK 44

SenzaGen has just completed a share issue to accelerate the company’s rapidly growing revenues, scale up the sales organization, complete ongoing validation processes and develop new tests in the GARD portfolio. The interest has been overwhelming which is why the Company, at an Extraordinary General Meeting on Monday, October 5, 2015 decided to extend the offer from MSEK 25 to 44. Vator Securities acted financial advisor regarding the share issue.

“The interest regarding our share issue has exceeded all expectations. It is an acknowledgment of the superiority of SenzaGens test, and the need for animal free allergy tests in the market”, says Anki Malmborg Hager, CEO at SenzaGen.

With their base at Medicon Village in Lund, SenzaGen develops and implements animal free allergy tests of chemicals and proteins, especially for the cosmetic and pharmaceutical industry. SenzaGen’s test GARD (Genomic Allergen Rapid Detection) is based on more than 15 years of research and measures significantly more parameters than existing tests on the market. It makes GARD a much safer and more effective test than other options. GARD eliminates the need for animal testing and enables customers to develop and provide safer consumer products and to offer their employees a better working environment.

SenzaGen’s original ambition was to bring in MSEK 25. As a result of the great interest in the Company, it was decided at an Extraordinary General Meeting on Monday, October 5, 2015 to increase the share issue to MSEK 44, even if the interest was much higher. The proceeds will primarily finance the scaling up of the sales organization, validation process and the development of new tests in the GARD portfolio. In addition to the financing and development of the operational business, SenzaGen will also aim at listing the company on First North during 2017.

“As the interest for our GARD products is growing, we are also aiming at listing the company on First North in order to facilitate and finance the continued expansion and development internationally”, says Anki Malmborg Hager.

Vator Securities acted financial advisor.

For more information, please contact:
Anki Malmborg Hager, CEO, SenzaGen AB
Phone: +46 768 284822.