Herantis Pharma Oyj : Plc successfully completes private placement raising EUR 8 million

THE INFORMATION CONTAINED IN THIS RELEASE IS NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA OR THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Herantis Pharma Plc ("Herantis" or the "Company") hereby announces the result of the offering of new shares (the "Placing Shares") in a private placement to institutional and other qualified investors (the "Placing"). The Company announced the launch of the Placing by way of a company release published on 17 December 2020.

Due to strong demand, the board of directors of the Company resolved to increase the aggregate gross proceeds raised in the Placing to approximately EUR 8 million from the planned preliminary minimum amount of EUR 6.5 million. In the Placing, the Company expects to issue a total of 2,162,163 Placing Shares in a directed share issue. The Placing Shares represent approximately 28.5 per cent. of the issued shares in Herantis prior to the Placing and approximately 22.2 per cent. of the issued shares in Herantis following the Placing. The total number of issued shares in the Company after the Placing will be 9,757,068.

The subscription price of the Placing Shares is EUR 3.70 per Placing Share, corresponding to a discount of 10 per cent to the closing price on First North Growth Market Finland immediately before the commencement of the Placing on 17 December 2020. The subscription price shall be recorded in the invested unrestricted equity reserve.

The Placing was carried out based on offers received in an accelerated bookbuilding and based on the authorisations given to the board of directors by the Company's annual general meeting of 8 April 2020 and the extraordinary general meeting of 2 December 2020.

The Placing Shares (ISIN code FI4000087861) will be registered with the trade register maintained by the Finnish Patent and Registration Office on or about 18 December 2020. The Placing Shares are expected to be ready for delivery to the investors against payment through Euroclear Finland Ltd or, as applicable, through Euroclear Sweden AB on or about 22 December 2020.

Herantis intends to make applications for the admission into trading of the Placing Shares on Nasdaq First North Growth Market Finland and on Nasdaq First North Growth Market Sweden. Trading in the Placing Shares is expected to commence on Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden on or about 22 December 2020, subject to the respective listing applications being approved.

The CEO of Herantis, Craig Cook comments: "This is an exciting time for Herantis and we are delighted by the continued support of our existing Finnish and Swedish investors including Swedbank Robur and AP4. We are also pleased to welcome Nanoform and other new investors, including from the UK. The raise confirms our compelling investment proposition as we pioneer our disease modifying therapeutics for debilitating neurological and lymphatic illnesses. The funds will enable us to implement our new R & D strategy and accelerate the development of our assets as we seek to make a difference for patients. 2020 has been a year with great progress for Herantis and we enter 2021 with a strong foundation, solid business fundamentals, and important milestones planned for the year ahead."

Swedbank AB (publ) is acting as the global coordinator and bookrunner of the Placing in association with Kepler Cheuvreux. Krogerus Attorneys Ltd is acting as the legal counsel to the Company as to Finnish law and Borenius Attorneys Ltd is acting as the legal counsel to the global coordinator and bookrunner of the Placing as to Finnish law.

Herantis Pharma Plc
Board of directors

For more information, please contact:

Julie Silber/Gabriela Urquilla

Tel: [phone]

Email: [e-mail]

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Certified Advisor: UB Securities Ltd, Finland: [phone], Sweden: [phone]

Company website: www.herantis.com

About Herantis Pharma Plc

Herantis Pharma Plc is an innovative clinical stage biotech company with a diverse pipeline of pioneering investigational therapeutics looking to modify the course of debilitating nervous system and lymphatic diseases, and break the boundaries of standard therapeutic approaches. Leveraging deep scientific brilliance in protein dysregulation for neurodegenerative diseases, and growth stimulation in lymphatic diseases, Herantis is advancing a rich pipeline of regenerative biological and gene therapies for high impact diseases.  These include i. CDNF biological therapy that acts on the proteostatic mechanisms of disease for the treatment of Parkinson's disease and other neurodegenerative diseases, and ii. Lymfactin® VEGF-C gene therapy for restoring lymphatic structure and function for the treatment of oncology related secondary Lymphedema and other lymphatic based diseases.  Herantis is pursuing disease modifying treatments that slow, stop, or even reverse the course of diseases, and bring much needed innovation to these underserved diseases.  The shares of Herantis are listed on the Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden.

Forward-looking statements

This company release includes forward-looking statements which are not historical facts but statements regarding future expectations instead. These forward-looking statements include without limitation, those regarding Herantis' future financial position and results of operations, the company's strategy, objectives, future developments in the markets in which the company participates or is seeking to participate or anticipated regulatory changes in the markets in which the company operates or intends to operate. In some cases, forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "guidance," "intend," "may," "plan," "potential," "predict," "projected," "should" or "will" or the negative of such terms or other comparable terminology.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance and are based on numerous assumptions. The company's actual results of operations, including the company's financial condition and liquidity and the development of the industry in which the company operates, may differ materially from (and be more negative than) those made in, or suggested by, the forward-looking statements contained in this company release. Factors, including risks and uncertainties that could cause these differences include, but are not limited to risks associated with implementation of Herantis' strategy, risks and uncertainties associated with the development and/or approval of Herantis' drug candidates, ongoing and future clinical trials and expected trial results, the ability to commercialize drug candidates, technology changes and new products in Herantis' potential market and industry, Herantis' freedom to operate  in respect of the products it develops (which freedom may be limited, e.g., by competitors' patents), the ability to develop new products and enhance existing products, the impact of competition, changes in general economy and industry conditions, and legislative, regulatory and political factors.

In addition, even if Herantis' historical results of operations, including the company's financial condition and liquidity and the development of the industry in which the company operates, are consistent with the forward-looking statements contained in this company release, those results or developments may not be indicative of results or developments in subsequent periods.

Important notice

The distribution of this release may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restrictions. The information contained herein is not for publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, Singapore, South Africa or the United States or in any other jurisdiction in which publishing or distributing would be prohibited by applicable law. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This release is not directed to, and is not intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.

This release does not constitute a prospectus as defined in the Prospectus Regulation ((EU) 2017/1129) and as such, does not constitute or form part of and should not be construed as, an offer to sell, or the solicitation or invitation of any offer to buy, acquire or subscribe for, any securities or an inducement to enter into investment activity.

This release is directed only to (A) persons who are outside the United States of America; (B) persons who are resident in a Member State of the European Economic Area and are a qualified investor (within the meaning of Article 2(1)(e) of Regulation (EU) 2017/1129 (the "Prospectus Regulation")); and (C) as regards the United Kingdom, (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); (ii) high net worth entities; and (iii) and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "Relevant Persons"). Any securities mentioned herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. No one who is not a Relevant Person shall act on the basis of this release.

This release does not constitute an offer for sale of securities in the United States. The shares may not be offered or sold within the United States absent of registration or an exemption under the U.S. Securities Act 1933 (as amended). The Company has not registered and it does not intend to register, any portion of the offering in the United States, and it does not intend to conduct a public offering in the United States.

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