AB Science Raises 3.2 Million Euros to Fund its Oncology Program
AB Science announces the successful completion of a private placement totaling 3.2 million euros with a select group of investors. This capital increase strengthens the pharmaceutical company's cash reserves and enables it to cover its financing needs for the next twelve months and beyond.
Use of Funds and Financing for the AB8939 Program
The proceeds from the private placement will provide AB Science with the additional resources needed to finance its ongoing activities, primarily the continued clinical development of the AB8939 program, a next-generation microtubule destabilizer aimed at oncology. This operation is part of the company's financing strategy, which involves developing a portfolio of molecules in the fields of oncology, neurodegenerative diseases, and inflammatory diseases.
Terms of the Capital Increase and Schedule
The private placement was carried out through the issuance of 3,412,768 new ordinary shares, each accompanied by a warrant (BSA). Two BSAs allow their holder to subscribe to one ordinary share at a price of 1.30 euros per share. The new shares are expected to be admitted for trading on Euronext Paris on May 5, 2026 under the ISIN code FR0010557264 - AB, just like the existing shares. The settlement-delivery of the shares and the detachment of the BSAs are scheduled for May 4, 2026. The company has signed a standstill commitment for a period of 45 calendar days from the date of settlement-delivery, while the executives and directors have signed a retention commitment for a period of 90 calendar days.
