On 16 February 2023, NeoDynamics AB (publ) (“NeoDynamics” or the “Company”) announced that the Company’s largest shareholder, Gryningskust Holding AB had provided a loan of SEK 14m to kick-start the planned launch of NeoNavia® in the US. The loan is intended to be converted into shares if the Company issues new shares in the future. The loan matures on 15 August 2023.
The board of directors and management of NeoDynamics are currently exploring various options to raise long-term capital to enable commercialization and execution of the Company’s US strategy, following the FDA clearance received in September 2022 for NeoDynamic’s innovative pulse biopsy system NeoNavia®. Funding proceeds will also be used to support the Company’s continued expansion and operations in Europe. These options for raising long-term capital include debt financing, a potential dual stock exchange listing to expand the Company’s shareholder base, as well as issues of new shares, warrants and/or convertible instruments. The Company may not be able to secure any such additional financing on favorable terms or at all.
To be able to act swiftly on potential funding opportunities, the board of directors will today give notice of an extraordinary general meeting on 3 April 2023 to ask the shareholders to resolve upon i) an authorization for the board of directors to increase the Company’s share capital in the period until the next annual general meeting planned for 23 May 2023 and ii) the adoption of new articles of association where the maximum share capital and the maximum number of shares are increased to SEK 48,000,000 and 480,000,000 shares, respectively. Any issue in accordance with the authorization shall be made on market conditions within the limits set by the new articles of association (if adopted by the general meeting). Another item on the agenda is a change in the number of board members in light of the recent news that two of the Company’s board members have resigned from the board.
Notice to the extraordinary general meeting will be published through a separate press release.
For further information, please contact:
Anna Eriksrud, CEO NeoDynamics AB, phone +46708 444 966 or e-mail firstname.lastname@example.org
Aaron Wong, CFO NeoDynamics AB, phone +46735 972 011 or e-mail email@example.com
NeoDynamics AB is a Swedish Medical Technology Company dedicated to advancing diagnosis and care of cancer. The company’s first product NeoNavia®, a new innovative pulse biopsy system for ultrasound-guided tissue sampling, is currently being introduced to the market. The biopsy system is built on a patented pulse technology, based on research at the Karolinska Institutet in Sweden. NeoNavia is evaluated for breast cancer diagnosis at leading clinics in Europe and launches in the USA during 2023. NeoDynamic’s shares are listed on Nasdaq First North Growth Market Stockholm (ticker: NEOD). The company’s Certified Adviser is Redeye AB.
NeoNavia is a modern biopsy system with a completely new patented pulse technology intended for ultrasound-guided tissue sampling. Each needle type is driven by the pulse technology providing a more controlled needle insertion and precise placement of the needle in the tumor whilst enabling high-quality tissue samples from both breasts and lymph nodes. The pulse biopsy system NeoNavia is designed to offer clinicians and patients accurate lesion targeting and high tissue yield for correct diagnosis and individualized treatment.
About Karolinska Institute
The Karolinska Institute is consistently ranked amongst the world's best medical schools, ranking 6th worldwide for medicine in 2021. The Nobel Assembly at the Karolinska Institute awards the Nobel Prize in Physiology or Medicine.