Biotech company Alvotech has completed a funding round totaling USD 35 million, equivalent to approximately ISK 4.5 billion, with Icelandic investors among those providing new equity to the company.
In total, Alvotech has raised USD 100 million in new equity over the past four months. In addition to the Icelandic investors, who contributed approximately USD 15 million, equivalent to nearly ISK 2 billion, new international strategic investors also participated. This funding secures the company's operations leading up to its planned initial public offering and listing on an international market later this year.
Arctica Finance acted as the company's advisor for the domestic capital increase.
