KRAKOW, Poland, December 22, 2022 (GLOBE NEWSWIRE) — Ryvu Therapeutics RVUa clinical-stage drug discovery and development company focused on novel small molecule therapies targeting new targets in oncology, announced the closing of its public offering of 4,764,674 Series J common shares (“Public Offering” ) famous.

• As a result of the public offering, Ryvu has received gross proceeds of PLN 250.3 million from institutional and private investors, as well as BioNTech and The Leukemia & Lymphoma Society (LLS).
• The transaction was the largest public offering of shares on the Polish capital market since February 2022 and the largest capital raising transaction by a Polish biotechnology company to date.
• Taking into account all secured funds – including payments for cooperation, funding from the European Investment Bank and grants – the company will have approximately PLN 500 million available to implement its development plans for 2022-2024.

“We are satisfied with the results of the offer. There was a lot of interest from investors. Both existing Ryvu shareholders and new investors participated in the transaction. Not only financial investors, but also industry investors like BioNTech and The Leukemia & Lymphoma Society, investing in the company that supports the potential of Ryvu’s pipeline, including our lead RVU120,” said Pawel Przewiezlikowski, co-founder, largest shareholder and CEO of Ryvu Therapeutics.

BioNTech received 1,917,437 shares, or approximately 40% of the shares issued in the public offering. BioNTech is a global immunotherapy company and has gained recognition by developing the first approved Covid-19 vaccine. As part of the collaboration previously announced on November 30, 2022, BioNTech committed to invest EUR 20 million in this equity offering, which subsequently turned into an investment of approximately PLN 94 million.

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