Cytovation

Carnegie Investment Bank Norway congratulates Cytovation ASA on the NOK 180 million private placement completed on 25 January.
 
Cytovation is a Norwegian clinical-stage biotech spin-off from University of Bergen with over 15 years of cutting-edge research within immunotherapy. CyPep-1, the company’s lead candidate, is being developed as a first-in-class lytic agent for the treatment of solid tumors. CyPep-1 kills cancer cells and displays cancer specific antigens directly to the immune system, providing personalized therapy by in-situ immunization. CyPep-1 has strong single agent activity and synergizes with checkpoint inhibitors which has led to several Phase II collaboration trials with Merck
 
The Company intends to use the net proceeds from the private placement to provide runway until Q2 2023 to conclude their CECILIA Phase I/IIa trials, full enrollment of Phase II 3-arm trials as well as other execution and oversight of their development program and related processes such as IMP manufacturing and partial CMC preparation for Phase III.
 
Carnegie is proud to have acted as Joint Bookrunner in the private placement, and wishes to thank CEO Lars Prestegarden, CBO Federico Grego and rest of the Cytovation team for the vote of confidence.