At the Extraordinary General Meeting of Infant Bacterial Therapeutics AB (publ) on June 9, 2023, it was resolved to approve the Board of Directors’ resolution from May 16, 2023 to increase the company’s share capital through the issuance of new shares with pre-emptive rights for the company’s shareholders. Subscription may also be made without pre-emptive rights, as set forth in the complete issue resolution.
Through the rights issue, IBT’s share capital will increase with not more than approximately SEK 611,932 through the issue of not more than 75,547 new class A shares and 2,169,689 new class B shares.
The record date for the right to participate in the rights issue is June 13, 2023. Subscription for shares shall be made during the period June 15 to June 29, 2023. The subscription price is SEK 45 per share, irrespective of share class.
For further details and information on the background to and reasons for the rights issue, refer to IBT’s press release on May 16, 2023.
IBT in brief
Infant Bacterial Therapeutics AB (“IBT”) is a public company domiciled in Stockholm. The company’s Class B shares are since September 10, 2018, listed on Nasdaq Stockholm (IBT B).
Infant Bacterial Therapeutics AB (publ) (“IBT”) is a pharmaceutical company with a product in clinical phase III with a vision to develop drugs influencing the infant microbiome, and thereby prevent or treat rare diseases affecting infants.
IBT is currently developing the drug candidate IBP-9414. The ambition for IBP-9414 is to become the world’s first approved probiotical drug with the goal to prevent life threatening diseases in premature infants including NEC and sepsis by conducting sound stomach-and bowel development in premature infants. IBP-9414 contains the active compound Lactobacillus reuteri, which is a human bacterial strain naturally present in breast milk.
The product portfolio also includes another project, IBP-1016, for the treatment of gastroschisis, a severe and rare disease affecting infants, IBP-1118 to prevent ROP (retinopathy of prematurity), a growing and serious condition that often leads to blindness among prematurely born babies and IBP-1122 for the prevention of antibiotic resistant hospital acquired infections. By developing these drugs, IBT has the potential to fulfill unmet needs for diseases where there are currently no prevention or treatment therapies available.
Staffan Strömberg, VD
Maria Ekdahl, CFO