On 20 June 2024, the trading in Cinclus Pharma Holding AB:s shares commenced on Nasdaq Stockholm. The price in the offering was SEK 42 per share, corresponding to a total market value of the company of approximately SEK 1.24 billion.
Cinclus Pharma is a clinical stage pharmaceutical company focused on the development of the drug candidate linaprazan glurate, a proprietary “prodrug” of the molecule linaprazan, originally developed by AstraZeneca. Linaprazan glurate represents a new and innovative mode of action for the treatment of erosive gastroesophageal reflux disease (eGERD) where there is currently a lack of sufficiently effective treatment options.
Carnegie Investment Bank och Bryan Garnier & Co acted as Joint Global Coordinators and Joint Bookrunners while ABG Sundal Collier acted as Joint Bookrunner. Baker McKenzie acted as legal advisor to the banks with a Capital Markets team consisting of Henric Roth, Joakim Falkner, Per Blom, Sophie Gidlund and Oscar Bang in Stockholm, Adam Farlow in London as well as Els Janssens in Brussels.
