The decision to launch a private placement was made on 17 June 2020 and it was completed on 18 June 2020 at a price of DKK 245 per new share. The subscription price for the new shares was determined through an accelerated book-building process carried out by Goldman Sachs International, Jefferies International Limited and Danske Bank A/S who acted as joint global coordinators and joint bookrunners. Needham & Company and Nordea Danmark, Filial af Nordea Bank Abp, Finland acted as co-managers.

Zealand intends to use the net proceeds to help fund commercialization and pre-launch activities for Zealand's late stage programs, accelerate development of the clinical pipeline, continued support for Zealand’s peptide platform, and for general corporate purposes.

Zealand is a biotechnology company focused on the discovery, development, and commercialization of next generation peptide-based medicines that change the lives of people living with metabolic and gastrointestinal diseases. More than 10 drug candidates invented by Zealand have advanced into clinical development, of which two have reached the market. Zealand’s robust pipeline of investigational medicines includes three candidates in late stage development, and one candidate being reviewed for regulatory approval in the United States. Zealand markets V-Go®, an all-in-one basal-bolus insulin delivery option for people with diabetes. License collaborations with Boehringer Ingelheim and Alexion Pharmaceuticals create opportunity for more patients to potentially benefit from Zealand-invented peptide therapeutics. Zealand was founded in 1998 in Copenhagen, Denmark, and has presence throughout the U.S. that includes key locations in New York, Boston, and Marlborough (MA).