The pharmaceutical company Vicore Pharma announces that French pharmaceutical giant Sanofi has committed to subscribe for shares in the ongoing rights issue. Sanofi intends to invest approximately $ 10 million, corresponding to approximately SEK 102 million, Vicore Pharma writes in a press release.

"We are delighted to welcome Sanofi, one of the world's leading pharmaceutical companies, as an investor in Vicore as we begin late-stage development of buloxibutide. This investment represents our belief in the potential of buloxibutide as a transformative treatment for patients suffering from IPF," commented Vice Pharma CEO Ahmed Mousa.

The commitment from Sanofi consists of a subscription of approximately SEK 98 million through the exercise of acquired subscription rights and a subscription of approximately SEK 4 million without subscription rights.

In total, Vicore Pharma plans to raise almost SEK 800 million in its rights issue.