Stans, Switzerland - February 18, 2010 – mondoBIOTECH holding AG (SIX: RARE) announces today the closing of its capital increase. The Company has raised CHF 9.2 million. Assuming execution, the options are expected to generate an additional contribution of gross CHF 1.7 million within the next three years. The expected placement of the newly offered shares and options with Imperial Fund Ltd. as a result of its pre-commitment as communicated by mondoBIOTECH has been completed in the measure of31%. In aggregate, subscriptions for 79'134 new shares and 11'141 options equal to 26% of the offered shares and 4% of the offered options have been received in the Offering. Given the difficult economic environment, the Company considers the outcome of the Offering as positive. The Company's Board of Directors has decided to proceed with the Offering as planned. Therefore, the first trading day of the newly issued shares is expected to be February, 19 2010 and delivery of the newly issued shares and options is expected to occur on February 22, 2010.
MondoBIOTECH intends to use the net proceeds of the Offering of approximately CHF 8.7 million to fund the further development and commercialisation of its medicinal product candidates and for general corporate purposes.
“The result obtained is in line with the historical growth of the Company, and will allow us to pursue our operating plans” commented Patrick Pozzorini, Founder and CFO of mondoBIOTECH holding AG. “In the current prudent financial and economical environment, we have reached a positive result“ stated Fabio Cavalli, Founder, Board Member and CEO of mondoBIOTECH holding AG. “The Company will continue to pursue its strategy as done until today with further capital increases and will organize itself to be able to open the future capital increases also to investors in such other countries where mondoBIOTECH is operating through its continuously growing Community.”
About Mondobiotech mondoBIOTECH holding AG (SIX Swiss Exchange ticker symbol: RARE), an independent, internet-based biotech research company, discovers drugs for patients suffering from rare and neglected diseases. Mondobiotech has built a continuously growing global community of biologists, biochemists, physicians, patients and patient advocacy organizations who share their passion and skills with Mondobiotech. Together with Mondobiotech, this community is searching for treatments for rare and neglected diseases.
For further information please contact: mondoBIOTECH holding AG Das Kloster Mürgstrasse 18 CH-6370 Stans-Switzerland Tel.: +41 (0) 840 200 010 Fax: +41 (0) 840 200 011 press@mondobiotech.com www.mondobiotech.com
Disclaimer The foregoing release may contain forward-looking statements. The words “anticipates”, “believes”, “estimates”, “expects”, “intends”, “may”, “plans”, “projects”, “will”, “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. mondoBIOTECH holding AG may not achieve the plans, intentions or expectations disclosed in its forward-looking statements and prospective investors should not place reliance on mondoBIOTECH holding AG’s forward looking statements. There can be no assurance that results of the activities and results of operations will not differ materially from the expectations. Forward- looking statements are subject to inherent risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by or underlying the forward looking statements. mondoBIOTECH holding AG is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
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