24 June 2014
Gernandt & Danielsson represents Abingworth LLP and MVM Life Science Partners LLP in private placement in the life science company Wilson Therapeutics AB
Venture capital firms Abingworth LLP and MVM Life Science Partners LLP have, together with the existing investor HealthCap, participated in an initial investment, through subscription of preferential shares and acquisition of existing shares, in the life science company Wilson Therapeutics AB as the first of three planned investments in the company.
The private placement amounts to a total USD 40,000,000 (SEK 260,000,000) following which Abingworth and MVM together with HealthCap will be the company’s main investors which in connection with the initial investment also bought out one of the former large shareholders in the company.
Wilson Therapeutics AB was founded in 2012 and is a life science company focused on the development of new drugs for the treatment of Wilson’s Disease, a rare genetic disease that affects approximately 1 in 15,000 people worldwide. The private placement is conducted to finance further product development, clinical trials and commercialisation of the company’s products.
Gernandt & Danielsson represented Abingworth and MVM in the private placement with a team consisting of Partner Dick Lundqvist, Senior Associate Sara Zachrisson and Associates Cecilia Stridsberg and Marcus Karner.