BERGENBIO ASA Bergen, Norway ,5 May 2020 -BerGenBio ASA (OSE:BGBIO), a clinical-stage biopharmaceutical company developing novel, selective AXL kinase inhibitors for unmet medical need, is pleased to announce that it has raisedNOK500m (gross) (Euro 45.4 million ) via an over subscribed Private Placement that took place via an accelerated book building process after close of market on4 May 2020 . The Offering was made through the allocation of 13,325,000 shares at a subscription price ofNOK 37.50 per share.BerGenBio intends to use the net proceeds from the Private Placement to take full advantage of clinical development opportunities stemming from the Company's technology and to progress readiness for early commercialisation possibilities, as well as for general corporate purposes.Richard Godfrey , Chief Executive Officer ofBerGenBio , commented: "We are delighted with this financing and the demand for our shares. I'd like to thank our current loyal shareholders for their continued support ofBerGenBio and welcome our new international investors to the register. This new investment will allow us to expand the clinical development potential of our AXL drug candidates to treat patients with serious aggressive diseases without any effective treatment option. There is growing scientific evidence to support our confidence and belief in our pipeline underlined by theUK Government's recent request to test bemcentinib in the ACCORD study in COVID19 patients. The potential broad applicability of bemcentinib is extremely exciting for our staff and shareholders and patients alike."Arctic Securities AS ,Carnegie AS andDNB Markets , a part ofDNB Bank ASA acted as Joint Bookrunners on the transaction. AboutBerGenBio BerGenBio is a clinical-stage biopharmaceutical company focused on developing transformative drugs targeting AXL as a potential cornerstone of therapy for aggressive diseases, including immune-evasive, therapy resistant cancers. The company's proprietary lead candidate, bemcentinib, is a potentially first-in -class selective AXL inhibitor in a broad Phase II oncology clinical development programme focused on combination and single agent therapy in lung cancer and leukaemia. A first-in-class functional blocking anti-AXL antibody, tilvestamab, is undergoing Phase I clinical testing. In parallel,BerGenBio is developing companion diagnostic tests to identify those patient populations most likely to benefit from bemcentinib: this is expected to facilitate more efficient registration trials supporting a precision medicine-based commercialisation strategy.BerGenBio is based in Bergen, Norway with a subsidiary in Oxford,UK . The company is listed on theOslo Stock Exchange (ticker: BGBIO). For more information, visit www.bergenbio.com For more information, please contactRichard Godfrey CEO,BerGenBio ASA +47 917 86 304Rune Skeie , CFO,BerGenBio ASA rune.skeie@bergenbio.com +47 917 86 513 International Media RelationsMary-Jane Elliott ,Chris Welsh ,Lucy Featherstone ,Carina Jurs Consilium Strategic Communications bergenbio@consilium-comms.com +44 7780 600290/ Media Relations inNorway Jan Petter Stiff , Crux Advisers stiff@crux.no +47 995 13 891 Forward looking statements This announcement may contain forward-looking statements, which as such are not historical facts, but are based upon various assumptions, many of which are based, in turn, upon further assumptions. These assumptions are inherently subject to significant known and unknown risks, uncertainties and other important factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this announcement by such forward-looking statements.
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