Bird & Bird assists Oasmia Pharmaceuticals AB (publ) in new share issue

02 December 2010

Bird & Bird has assisted Oasmia Pharmaceutical AB (publ) in the preparation and launch of its recently closed SEK 240 million new share issue. The team consisted of corporate partner Hans Svensson, assisted by Caroline Carlshamre, Mahmut Baran (partner), Ragnar Lundgren (partner), Magnus Berterud, Staffan Seger and Jacob Blidberg.

Oasmia develops a new generation of drugs within human and veterinary oncology. The product development aims to manufacture novel formulations based on well-established cytostatics which, in comparison with current alternatives, show improved properties, a reduced side-effect profile and an expanded therapeutic area. The product development is based on in-house research within nanotechnology and company patents. Oasmia is listed on Nasdaq OMX Stockholm.

Together with Carnegie Investment Bank AB, the Bird & Bird team has assisted Oasmia on the structuring of the offer, the preparation and filing of the prospectus and the commitments and underwritings procured via Carnegie.
Hans Svensson comments: “Early stage companies in drug development and pharmaceutics generally face very challenging market conditions, and we are particularly pleased to have been able to successfully assist Oasmia in this capital raise, which is intended to finance the operations until the commercialization of its first and very interesting drug candidate.”

Julian Aleksov, CEO of Oasmia comments: ”We are very pleased that the new share issue was completed according to plan. The raised capital will among other things finance the business until own revenues are generated sufficiently. The financial situation after the completed new share issue will also substantially strengthen the company’s position in future negotiations with potential licensees.  Bird & Bird’s part in the success of the new share issue is highly valued and their efforts have been characterized by great proficiency and accuracy.”