MedWatch

Danish Reapplix runs out of money in January – Novo-owner is ready with funds

Danish biotech firm Reapplix has issued shares for DKK 125 million and raised a convertible loan on DKK 23 million. The money will keep the company going until next year, but Reapplix is already looking for new funds. According to the CEO, the biotech firm keeps all opportunities open - including an IPO.

Foto: Reapplix/PR

Danish regenerative medicine company Reapplix, which has long been expected to go public, lives on its willing investors.

During the past financial year, the company issued 1.8 million new shares with a total value of DKK 125 million (USD 18.95 million) to its current investors; Seed Capital, The Danish Growth Fund and Novo Seeds. All companies have converted previous loans to shares in the company.

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