News & Views

Hannes Snellman Counsel to BVF Partners on its Investment in Calliditas Therapeutics AB

3 July 2019

Hannes Snellman acted as counsel to BVF Partners, a US biotechnology specialist investor, on the acquisition by funds managed by BVF Partners of shares and call options in Calliditas Therapeutics AB, a company listed on Nasdaq Stockholm, Mid Cap.

The funds managed by BVF Partners were, with their investment of approximately SEK 112 million, the principal investor in the SEK 300 million private placement where Calliditas Therapeutics AB raised gross proceeds of approximately SEK 210 million through issuance of new shares and certain shareholders sold existing shares for approximately SEK 90 million. The private placement was carried out through an accelerated book building process lead by Carnegie Investment Bank and Zonda Partners. In connection with the private placement, the funds managed by BVF Partners also acquired call options for additional shares in Calliditas Therapeutics AB from certain existing shareholders.

Hannes Snellman’s team was led by Mattias Friberg and also included Mikael Klang, Khaled Talayhan and Marcus Lehtinen.