Biovica secures $3 million rights issue to fund US cancer-test rollout
What's the deal? Sweden's Biovica InternationalDealroom has a profile for this one. Try Dealroom → has resolved on a fully guaranteed rights issue of SEK 29.2 million (roughly $3 million) to strengthen its working capital. The board approved the new B-share issue on September 9, 2026, subject to approval at an extraordinary general meeting set for September 30.
Where's the money going? BiovicaDealroom has a profile for this one. Try Dealroom → plans to use the proceeds to continue commercialising its DiviTum TKa cancer-monitoring test in the US and to expand its pharma service offering.
Who's backing it? Largest shareholder HDF Cancer Monitoring provided a guarantee undertaking of about SEK 21.21 million, or 72.67% of the issue. Subscription commitments from HDF, Cornelia Willemina Kuijvenhoven, and Cornelis Jan Bogerd totalled SEK 7.92 million, and board member Cornelis Peter Bogerd intends to subscribe for his pro rata share.
The issue comprises up to 97,303,733 new B-shares at SEK 0.30 each — a discount of about 23% to the theoretical price after separation of subscription rights. Together, the commitments and guarantee cover the full amount.
Why now? Chief executive officer Theis Kipling said the financing "gives us the runway to keep executing on our two clearest growth levers." Management and board members, including Kipling, Fredrik Alpsten, and Jesper Söderqvist, have said they intend to subscribe for their pro rata shares, worth about SEK 0.5 million.
The signal: The raise sits at the smaller end of the funding spectrum, in the bottom decile by size. For a listed diagnostics company, a fully covered rights issue anchored by its biggest holder points to a focus on extending runway rather than aggressive expansion — buying time to prove out its US commercialisation push.
Read more: wallstreet-online.de
Image credit: Ark. Agricultural Experiment Station
