Sparks - Mendus

Mendus has successfully executed a directed share issue of c SEK52.5m (before deduction of transaction costs), through the issuance of 10.5m shares at a subscription price of SEK5 per share. Part of the directed issue is subject to approval at the extraordinary general meeting, scheduled for 16 December 2025. It was noted that the raise is supported by both new investors, as well as existing shareholders (including Van Herk Investments, Flerie Invest and the Fourth AP fund). Multiple members of Mendus’s board of directors, including CEO Erik Manting, have also participated. Importantly, the proceeds have the potential to extend the company’s cash runway to end-2026 (from Q126 previously).

The proceeds will be used to support Mendus’s ongoing and newly planned clinical programmes as part of its recently announced renewed strategy, providing operational headroom past multiple anticipated inflection points. These include: initial data from the Phase IIb CADENCE trial testing vididencel in combination with oral azacitidine in chemo-fit acute myeloid leukaemia (AML) patients (Q326); initial data from the Phase Ib DIVA trial assessing vididencel in chemo-unfit AML patients in combination with venetoclax and azacitidine (Q326); first-in-human data in the planned Phase Ia/Ib trial in chronic myeloid leukaemia (Q326).