Mondobiotech targets phase III funding through increased capital
Stans – Swiss Mondobiotech Holding AG will finance clinical development of Mondobiotech’s Phase III programme in idiopathic pulmonary fibrosis through increasing its capital to CHF43m, selling 304,131 shares and three-year options in a rights offering. While the price per share will be CHF110, the options will be valued CHF40. According to Mondobiotech Imperial Fund, it expects to purchase more than 65% of the shares. Holders of every 215 subscription rights will be offered one new common share and one option entitling its holder to subscribe within an exercise period of 3 years for one new common share, worth CHF 150.00. Subscription rights will be traded on the Swiss Exchange from 26 January 2010 until on or about 9 February 2010 (ticker symbol: RARE1).