Nordic Issuing

Ongoing case

Ectin Research AB

Back to all cases

Ectin Research AB

1 Jul - 29 Jul 2021IPO

Ectin Research AB conducts development work for the purpose of commercial exploitation of projects and knowledge developed to diagnose and treat various cancers. The company initially focuses on developing treatment methodology for metastatic bladder cancer in order to verify the combination treatment developed and then develop the concept against other cancer indications as well.

The treatment is initially aimed at patients with metastatic urothelial bladder cancer with progressive disease after treatment with platinum-based chemotherapy and / or checkpoint inhibitors. MFA-370 can also be used for cancer treatment of patients who for some reason do not want or can take already established treatments. The treatment is planned to take place orally and for administration in the patient’s home, meaning that the patient does not become dependent on medical care. The company’s vision is to develop MFA-370 into a new standard treatment for patients who are also in previous treatment lines. Preclinical studies have shown that MFA-370 can induce cancer cell death without the addition of chemotherapeutic drugs. The company plans to initiate a combined clinical phase l / ll study during H2 2021.

The application period in the offer has been extended. Please see press release here:

Read more at the company's website

The offer in summary

Application period: 1 July - 29 July 2021

Price: SEK 35.40 per unit, corresponding to SEK 5.90 per share.

Terms: One (1) unit corresponds to six (6) shares and one (1) warrant of series TO 1 B.

Lowest amount to apply for: 160 units, corresponding to SEK 5,664.00.

Valuation (pre-money): SEK 28,873,068.80

Issue volume: SEK 52,999,995.00

Planned day for listing: 13 July 2021

Market: Spotlight Stock Market

Apply for units in Ectin Research AB

In order to apply for units in Ectin Research’s IPO, you need to contact your bank. Please be aware that not all banks have the possibility to assist their clients with an application. In case your bank is unable to help you, please contact Nordic Issuing ( for information on how to proceed and apply.

Warrant of series TO 1 B

One warrant of series TO 1 B entitles the holder to subscribe for one (1) new share in the company, at a price of SEK 7.10 per share. Subscription of shares through warrant exercise will take place during the period 25 May – 15 June 2022.


Due to restrictions in applicable law in the United States, Canada, Australia, Hong Kong, Singapore, South Africa, Switzerland, New Zealand, Japan, Russia, Belarus or other countries where participation requires further prospectuses, registrations or actions other than those under Swedish law, the offer to subscribe for securities in this offer is not directed at persons or others with registered address in any of these countries.