Hofseth BioCare ASA Initiates Private Placement and Partial Divestment in AecorBio, Targeting NOK 155-181 Million

Strategic Capital Raise and Divestment

Hofseth BioCare ASA, a Norwegian biotech company, announced on October 24, 2025, a contemplated private placement to raise between NOK 155 million and NOK 181 million. Concurrently, the company is undertaking a partial divestment of its shares in its U.S. subsidiary, AecorBio Inc.,,. The private placement involves the issuance of between 86,096,132 and 100,638,889 new shares at a fixed price of NOK 1.80 per share,,.

The private placement has already secured pre-committed undertakings covering the lower end of the offer size, totaling approximately NOK 155 million. Of this, NOK 103.4 million will be cash proceeds, while NOK 52 million will be settled through the conversion of debt,,. Notable investors include Guy Urquhart with approximately NOK 100 million, GCI Hofseth LLC contributing around NOK 3.6 million, and Hofseth International AS, associated with Board member Roger Hofseth, providing approximately NOK 52 million,,. The application period for the private placement commenced on October 24, 2025, and is expected to conclude on or before October 27, 2025.

AecorBio Divestment Details and Valuation

As part of the strategic move, Hofseth BioCare ASA will divest 1,616,498 shares in AecorBio for approximately USD 5 million, at a price of USD 3.0931 per share,,,. This transaction represents a 20% valuation uptick for AecorBio compared to its most recent funding round,,. Following this divestment, Hofseth BioCare ASA will retain approximately 52% ownership of AecorBio,,,. The transaction values AecorBio at $36 million, a premium over its $30 million post-money valuation after a $1.5 million equity financing round in September 2025,.

Strategic Use of Proceeds and AecorBio's Pipeline

The capital raised from both the private placement and the divestment is earmarked for several strategic initiatives. Hofseth BioCare ASA plans to strengthen its growth in salmon-derived nutrition, with a particular focus on expanding its presence in Asia and the United States. The funds will also be channeled into expanding the company's Business-to-Business (B2B) ingredients unit and accelerating customer adoption of its nutraceutical offerings. Furthermore, investments will target capitalizing on the demand for metabolic health and healthy aging products, alongside supporting research and development and marketing activities,,.

AecorBio Inc., the U.S. subsidiary, is primarily focused on the development of its lead peptide candidate, FT-002a, for advanced prostate cancer,,,. The company aims to file an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) in 2026, a critical step towards clinical development,,,. FT-002a operates by resetting tumor iron metabolism, and preclinical data has demonstrated significant reductions in tumor volume,,. The addressable market for resistant prostate cancer is estimated to exceed $2.5 billion annually,,.