Corporate Actions and Regulatory Developments – Flerie AB

Merger Plan with Biosergen AB

On 26 June 2026, Flerie AB announced that it and Biosergen AB have entered into a merger plan. Under the agreed terms, Biosergen will be absorbed by Flerie, marking Flerie’s first new investment since its listing on Nasdaq Stockholm. The acquisition is valued at SEK 54.7 million, representing a premium of approximately 33 % compared with the current market value of Biosergen.

In connection with the merger, Biosergen’s board resolved to issue shares amounting to SEK 40 million through a rights issue. The shares will be offered to existing shareholders prior to the consummation of the merger. The rights issue is intended to provide the necessary capital to support the integration of Biosergen into Flerie’s operations.

Regulatory Approvals and Disclosure

The merger plan and associated share issuance were disclosed in press releases from both companies on 26 June 2026. The statements complied with Swedish takeover rules (Takeover Regulations) and were distributed through designated platforms, excluding distribution to the United States, Australia, Canada, Japan, New Zealand, South Africa, and other specified jurisdictions.

Clinical Development Progress – Bonsai Biotherapeutics

Flerie’s portfolio company, Bonsai Biotherapeutics, received full approval of a clinical trial application (CTA) for its investigational product TOL2 in the treatment of myasthenia gravis. The approval was announced on 26 June 2026 and indicates that the company has obtained the necessary regulatory clearance to initiate clinical testing. This development enhances Flerie’s portfolio in the therapeutic area of autoimmune diseases and may contribute to future revenue streams.

Market Context

  • Close price (25 June 2026): SEK 20.1
  • 52‑week high (10 July 2025): SEK 41.74
  • 52‑week low (23 June 2026): SEK 19.4
  • Market capitalization: SEK 1 742 623 872
  • Price‑to‑earnings ratio: –3.2 (negative, reflecting current losses)

These figures provide a snapshot of Flerie’s financial position following the merger announcement and the regulatory approval for its subsidiary’s clinical trial.

Implications

The absorption of Biosergen expands Flerie’s asset base and introduces additional expertise in biotechnological development. The rights issue will strengthen the balance sheet, enabling integration and potential synergies. Concurrently, the approval for TOL2 positions Flerie to progress its clinical pipeline, potentially generating future revenue and enhancing shareholder value.