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Lytix Biopharma AS ( (DE:6BG) ) has provided an announcement.
Lytix Biopharma has raised approximately NOK 61 million in an oversubscribed private placement of 6,826,200 new shares at NOK 9.00 each, equivalent to a 10% increase in share capital, with strong participation from key existing shareholders and management. The proceeds will extend the company’s cash runway into 2027 and fund completion of its NeoLIPA study, preparation for potential future clinical trials, and broader business development and partnership efforts, while the board plans a subsequent repair offering of up to NOK 30 million to partially offset dilution for non-participating shareholders and is preparing to convert the company into a public limited liability company, steps that collectively strengthen its financial flexibility and capital-market positioning.
More about Lytix Biopharma AS
Based in Oslo, Norway, Lytix Biopharma AS is a clinical-stage biotechnology company developing cancer immunotherapies based on host-defense peptide-derived molecules. Its lead product, LTX-315, is a first-in-class oncolytic molecule designed to boost anti-cancer immunity, and the company is building a pipeline intended for use across multiple cancer indications and treatment settings, both as monotherapy and in combination with other treatments.
Average Trading Volume: 81,110
Current Market Cap: NOK678.5M
For an in-depth examination of 6BG stock, go to TipRanks’ Overview page.