The Extraordinary General Meeting of Spago Nanomedical AB (publ) today approved the Board's decision of 21 December 2020 on a fully secured rights issue that will provide the company with up to approximately SEK 59.1 million, and authorized the Board to, in the event of over subscription, also decide on a directed issue of a maximum of approximately SEK 10 million.

The funds from the capital raising will be used to forcefully drive the development of the company's radionuclide therapy, Tumorad forward. Interim data from the clinical study with the company's other project, SpagoPix, have recently confirmed that the company's nanoparticles accumulate in solid human tumors, which is the basis for Spago Nanomedical's technology platform which is also used in the Tumorad project.

'The positive interim results from the SpagoPix study and the progress of Tumorad have significantly strengthened the likelihood of success in the company's projects. The pharmaceutical project Tumorad potentially has a very high value and we want to be able to drive development forward with full force towards clinical studies, 'says Mats Hansen, CEO of Spago Nanomedical.

The issue is expected to raise approximately SEK 59.1 million before transaction costs and will be used to finance the final steps required to initiate Phase I / II clinical trials with Tumorad. A possible over-allotment of an additional maximum of approximately SEK 10 million will enable a higher degree of financial flexibility.

Contact:

Mats Hansen

Tel: +46 46 811 88

Email: mats.hansen@spagonanomedical.se

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