Bio-Works Technologies rights issue oversubscribed
Bio-Works Technologies AB (“Bio-Works” or the “Company”) has completed the rights issue of units approved at the extraordinary general meeting on July 29, 2024 (the “Rights Issue”). The outcome shows that 36 525 888 units, corresponding to approximately 93.7 percent of the Rights Issue, have been subscribed for with unit rights. In addition, a total of 17 733 821 units have been applied for subscription without unit rights, corresponding to approximately 45.5 percent of the Rights Issue. The total subscription rate thus amounts to approximately 139.2 percent of the Rights Issue. The Rights Issue is thus oversubscribed and Bio-Works will receive approximately SEK 39 million through the Rights Issue before deduction of the issue costs.
Bio-Works' 2023 Annual Report describes the company's continued journey as it positions itself as the industry's preferred "tailor" of customized solutions, while implementing significant internal changes with the aim of creating an even more agile and focused organization that is adapted to prevailing market conditions.
An investment in Bio-Works allows participation in the expansive biotechnology sector but with a lower risk profile.
Bio-Works generates revenue in the early phases of a biotherapeutics' development, long before the approval of the drug substance.
There is a strong market demand for suppliers of chromatography resins who can offer alternatives to the few that have dominated the market for decades.
Bio-Works has the foundational cornerstones in place and is well-positioned for expansive growth without large investments in the near future.
Latest press release (in Swedish)
Bio-Works Technologies bekräftar produktionsorder värd 2,7 mSEK till ledande CDMO i Sverige
