Polish biotech firm Ryvu Therapeutics aims to raise 272 million zlotys in public offering

Ryvu Therapeutics SA

08/12/2022 08:25

GDANSK, Dec 8 (Reuters) - Polish biotech firm Ryvu
Therapeutics  RVU.WA  said on Thursday it had started a public
offering of up to 4.8 million J series shares, aiming to raise
272 million zlotys ($60.96 million).
    The maximum price in the offering of new shares was set at
65 zlotys per share. Ryvu wants to use the funds mainly for the
development of clinical projects and execution of growth plans
scheduled for 2022-2024.
    The subscription and book-building period will run from Dec.
8 to 15, the company said in a statement.
    Ryvu said that its 2022-2024 growth plans assume total
capital expenditure of about 558 million zlotys.
    The company announced the issue of J series shares in early
October. At the end of November it also signed an investment
deal with BioNTech  22UAy.DE  under which the German medical
company agreed to invest 20 million euros ($21.05 million) in
Ryvu via the acquisition of J series shares.
    Under the Ryvu-BioNTech deal, after the public offering the
German company will be one of the Polish company's biggest
shareholders, Ryvu said in its statement.
($1 = 4.4618 zlotys)
($1 = 0.9500 euros)
 (Reporting by Mateusz Rabiega; Editing by Susan Fenton)
 ((Mateusz.Rabiega@thomsonreuters.com; +48 58 769 67 57;))