Circio Completes Oversubscribed Financing, With Proceeds to Accelerate Circular RNA Platform

Circio has completed a directed share issue, or “private placement,” raising gross proceeds of approximately NOK 250 million (US$26.3 million). The significantly oversubscribed financing represents more than 23 million offer shares, each at a price of NOK 10.80 (US$1.13).

An announcement of the completed private placement mentioned a “limited group of new potential investors” in Circio. However, these have not been publicly specified by name.

Circio’s Work to Date

Circio is a biotechnology company that develops circular RNA expression technology for use in the cell and gene therapy field.

Its proprietary circVec platform, based on a modular genetic construct, facilitates efficient biogenesis of multifunctional circular RNA inside target cells. The platform has applications in therapeutic settings such as genetic medicine, cell therapy, and chronic disease.

How Proceeds from Financing Will Help

Net proceeds from the private placement will primarily allow Circio to extend its financial runway into the year 2030. But also, the financing will help scale up preclinical circVec R&D activity. A circVec—adeno-associated virus (AAV) gene therapy program will be accelerated in heart, eye, and central nervous system concentrations. Circio aims to select one or more candidates for clinical development, and complete feasibility studies with major, global pharmaceutical companies.

In addition, Circio will deploy new infrastructure and human resources toward accelerating preclinical development to the next value inflection point. Namely, this means a circVec—lipid nanoparticle in-vivo chimeric antigen receptor T-cell (CAR-T) therapy project. Overall, Circio wants to strengthen business development activities to capitalize on what it calls its “early-mover” advantage.

Circio CEO Responds

“This oversubscribed private placement is a truly transformational event for Circio,” said CEO Erik Wiklund, PhD. “We already have an exciting pipeline of upcoming R&D milestones, which can now be broadened and accelerated.”

In July 2025, Circio expanded laboratory operations in Stockholm, Sweden, further enabling the company accelerate preclinical development toward its first therapeutic candidates.