July 6, 2020 / 4:03 PM / in a month

Molecular Partners launches share placement

ZURICH, July 6 (Reuters) - Molecular Partners is launching a share placement via an accelerated bookbuilding process that could boost its registered share capital by a quarter, the Swiss biotech group said on Monday.

The shares are to be issued from existing authorised share capital under an exclusion of existing shareholders' pre-emptive rights, it said. It said it would use the proceeds to fund research and development spending and for general corporate purposes.

SVB Leerink LLC, Cowen and Co LLC, Credit Suisse AG and Van Lanschot Kempen Wealth Management N.V. are acting as joint bookrunners, it said in a statement. (Reporting by Michael Shields; Editing by Jan Harvey)

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