Zelluna lists on Euronext

• Market capitalisation of approximately NOK 463 million

• Private placement raising NOK 51.7 million

• A result of the business combination of Ultimovacs and Zelluna Immunotherapy

Oslo – 4 March 2025 – The biopharmaceutical company Zelluna (ticker: ZLNA) was today admitted to trading on Euronext Oslo Børs following the business combination between Ultimovacs ASA and Zelluna Immunotherapy AS, announced in December 2024. 

Zelluna is a biopharmaceutical company with a mission to deliver transformative treatments with the capacity to cure advanced solid cancers, in a safe and cost-efficient manner, to patients on a global scale. The company is based in Oslo, Norway. 

In connection to the business combination of the two companies, a private placement was completed raising 
NOK 51.7 million at a price of NOK 2.60 per stock in December. The issue price of Zelluna shares was set at NOK 2.29 per share at market opening, and market capitalisation was NOK 463.2 million on the day of listing. 

Namir Hassan, CEO of Zelluna ASA, said: “Today marks a pivotal moment as Zelluna joins Euronext Oslo Børs, as the first ever cell therapy company to be traded on it. Through the unwavering dedication of our team, board and investors, we have pioneered an “off the shelf” cell therapy platform from basic research to the world’s first lead asset heading towards the clinic. Listing on Euronext Oslo Børs opens new doors for growth and innovation, enhances our visibility and provides the financial flexibility needed to accelerate the development of our groundbreaking cell therapies, getting them closer to solid cancer patients who need them.” 

Caption: Namir Hassan, CEO of Zelluna rang the bell during a ceremony this morning to celebrate Zellunas first day of trading. The company was welcomed by Øivind Amundsen, CEO of Euronext Oslo Børs. (Photo: Thomas Brun | NTB).

About Zelluna ASA 

Zelluna’s mission is to deliver transformative treatments with the capacity to cure advanced solid cancers, in a safe and cost-efficient manner, to patients on a global scale. 

The Company aims to do this by combining the most powerful elements of the immune system through pioneering the development of “off the shelf” T cell receptor (TCR) guided natural killer (NK) cell therapies (TCR-NK). The TCR-NK platform offers a unique mechanism of action with broad cancer detection capability to overcome the diversity of tumours and will be used “off the shelf” to overcome scaling limitations of current cell therapies. The lead programme is the world’s first MAGE-A4 targeting “off the shelf” TCR-NK for the treatment of various solid cancers; a pipeline of earlier products follow. 

The Company is led by a management team of biotech entrepreneurs with deep experience in discovery through to clinical development of TCR and cell-based therapies including marketed products.

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