The board of directors of Ziccum AB (publ) ("Ziccum"or the "Company") has today, 10 January 2025, resolved to file for bankruptcy on behalf of the Company to manage the financial situation that has occurred. The application for bankruptcy will be submitted to Lund District Court.
The decision is based on a thorough assessment of alternatives, considering the current financial situation, and the board has reached the overall conclusion that the Company does not have enough financing to fulfil outstanding obligations and continue operations. The Company completed a rights issue in fourth quarter 2024 where the proceeds gained were significantly lower than expected. Meanwhile, other sources of financing are judged inadequate to maintain continued Company operations, as the current investor Global Corporate Finance ("GCF) has chosen to decline the Company's request for continued financing according to the existing agreement.
Considering the above, the board of directors of Ziccum has today decided to file for bankruptcy at Lund District Court.
Ziccum regrets the inability of the Company to pursue its continued technology and business development based on LaminarPace®, its patented pharmaceutical technology platform.
For more information about Ziccum, please contact:
Ann Gidner
CEO, Ziccum AB
Mail: gidner@ziccum.com
Mobile: +46 722140141
Jonas Ekblom
Chairman of the Board, Ziccum AB
Mail: ekblom@ziccum.com
Mobile: +46 736777540
Ziccum's Certified Adviser is
Vator Securities AB
About Ziccum
Ziccum is developing LaminarPace®, a unique drying method for biopharmaceuticals and vaccines based on mass transfer, not heat transfer. The technology is offered by licensing to vaccine and biologics developers and manufacturers in the global pharmaceutical industry. By reducing drying stress to the active ingredient, LaminarPace® uniquely enables particle-engineered, thermostable dry powder biopharmaceuticals which can be easily handled and transported and are highly suitable for novel administration routes. The technology has been successfully applied to mRNA, peptides, proteins, antibodies, lipids and enzymes as well as excipients and adjuvants, and is well suited for industrial application. Ziccum is listed on the Nasdaq First North Growth Market.
This information is information that Ziccum is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-01-10 08:37 CET.
