In conjunction with a 210 MSEK directed share issue in Calliditas Therapeutics AB, Investinor has committed to sell 8% of its shares in the company at a share price of 60 SEK per share. The 25 MNOK in transaction proceeds correspond to an IRR of 26% for Investinor. In the addition, the transaction includes a sale of call options equivalent to 3% of Investinor’s shares at a strike price of 90 SEK per share. Industrifonden and Calliditas founder Bengt Julander are selling shareholders together with Investinor. Buyer of the shares is American specialist biotech fund BVF Partners.
– Investinor is pleased to welcome BVF as new owner in Calliditas, which further strengthens the ownership base of the company. Following last year’s IPO and the newly entered licensing deal with Everest Medicines, this transaction marks yet another important milestone for our ownership in Calliditas, says Ann-Tove Kongsnes, Investment Director at Investinor.
Investinor has since its first investment in Calliditas in 2013 taken an active role in developing the company from a Phase 2 ready start-up to a mature clinical phase company listed on NASDAQ Stockholm. After the transaction, Investinor will remain the second largest shareholder in the company with a 13.2% share.
Calliditas’ press release can be read here.