Davis Polk advised Xspray Pharma AB (publ) on a private placing of new shares. The private placing raised gross proceeds of approximately SEK 265 million. 

Xspray was founded in 2003 as a drug delivery company based on the company’s patented nozzle for particle engineering and scale-up. In 2011, Xspray realigned its business model from conducting contract research and development for other pharmaceutical companies to focusing on developing proprietary drugs based on its RightSize technology. Xspray is now a pharmaceutical company focused on developing improved and generic versions of already marketed drugs, mainly protein kinase inhibitors for targeted cancer treatment, and aims to be world leader in this field.

The Davis Polk corporate team included partner Reuven B. Young and associate Serdar Inci. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. All members of the Davis Polk team are based in the London office.

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