Biopharma company Irlab has resolved on a rights issue of approximately SEK 68 million, with a potential over-allotment option of an additional SEK 34 million. The issue is approximately 91 percent secured through subscription commitments and intentions to subscribe.

The subscription price is set at SEK 1.20 per share. One existing share entitles the holder to one subscription right, and three subscription rights entitle the holder to subscribe for two new shares. Upon full subscription, the number of shares will increase by approximately 56.6 million to approximately 141.6 million, representing a dilution of up to 40 percent for non-participating shareholders.

The record date is June 9, and the subscription period runs from June 11 to June 25. The last day of trading including subscription rights is June 5, and the first day excluding rights is June 8. The outcome is expected to be announced on June 29.

The proceeds are intended to strengthen the company's financial position, support partner dialogues, and advance the development of drug candidates. Simultaneously, SEK 18.5 million of a loan from Fenja Capital will be extended to November 2027, while approximately SEK 5 million will be repaid in connection with the issue.

The capital will be allocated as follows: approximately 30 percent to strengthen the financial position and support partner dialogues, and around 8 percent for partial loan repayment. Furthermore, approximately 16 percent will fund preclinical studies and manufacturing ahead of Phase I programs. The remaining 46 percent will be directed toward business development as well as research and development of the company's drug candidates. Any proceeds from a potential over-allotment issue of up to SEK 32 million will be allocated according to the same distribution.