Oncopeptides raises $10 million to push its glioblastoma drug toward clinic
What's the deal? Swedish biotech OncopeptidesDealroom has a profile for this one. Try Dealroom → has completed a directed share issue of US$12.1M (roughly $10 million) to fund the next clinical phase of its glioblastoma programme. The company, listed on Nasdaq Stockholm, issued 50,000,000 new ordinary shares at US$0.24 each to Swedish and international institutional investors.
Who backed it? HealthCap VIII L.P.Dealroom has a profile for this one. Try Dealroom →, Oncopeptides' largest shareholder, invested US$1.21M in the round. ABG Sundal CollierDealroom has a profile for this one. Try Dealroom → ran the accelerated bookbuilding process that set the price.
Why now? The raise follows what Oncopeptides called "promising Window-of-Opportunity data" announced on October 9, 2026. The proceeds will cover chemistry, manufacturing, and controls (CMC) work, preparations for a clinical study start, and execution of the next development phase in the glioblastoma programme — a notoriously difficult-to-treat brain cancer.
Why a directed issue? The board considered a rights issue open to all shareholders but concluded that route would take longer, raise market exposure, and risk a negative hit to the share price amid "volatile and challenging market conditions." A rights issue also risked being undersubscribed or needing costly underwriting.
What could go wrong? The US$0.24 price represents a 13.9% discount to the stock's October 13 close of US$0.28, and the deviation from preferential rights dilutes existing shareholders who did not participate. The board argues the discount reflects prevailing demand and market conditions.
The signal: At roughly $10 million, this is a modest raise by biotech standards — enough to clear a defined milestone rather than fund a company for years. For small-cap clinical-stage firms in a tight funding market, speed and certainty increasingly outweigh breadth, pushing boards toward directed issues over broader rights offerings.
Read more: view.news.eu.nasdaq.com
Image credit: National Institutes of Health (NIH)
