Hørsholm, Denmark, May 7, 2020 – Oncology Venture A/S (“OV” or the “Company”) today announces the issuance of 1,952,475 new shares in debt swaps.
The Company has, on the basis of a Board resolution of May 6, 2020, issued 1,952,475 new shares as part of two debt conversions:
- Debt conversion of SEK 2,500,000 equivalent to 1,412,429 shares issued to Global Corporate Finance under the share subscription agreement announced on May 6, 2020, and
- Conversion of debts of DKK 650,000 equivalent to 540,046 shares issued to a consultant for assistance in setting up 2X Oncology Inc.
The new shares do not carry any specific rights.
The subscription will be made at a subscription rate of 1.77 SEK per share of 0.05 DKK nominal.
The share capital is after the conversion a total of 6,630,927.70 DKK divided into 132,618,554 nominal shares. value DKK 0.05.
For more information, please contact:
Henrik Moltke, Chief Financial Officer
Telephone +45 53 63 96 37
About Oncology Venture A/S
Oncology Venture A/S (Nasdaq First North Growth Market Stockholm: OV.ST) develops drugs for personalized cancer treatment guided by its proprietary drug response prediction technology, DRP®. The company has a mature portfolio of six drug candidates, including compounds in the pre-registration phase. The product pipeline includes: 2X-121, a Phase 2 PARP inhibitor for ovarian cancer; Dovitinib, a post-Phase 3 pan-TKI for renal cell carcinoma; IXEMPRA ® (Ixabepilone), a microtubulin inhibitor approved in the United States for the treatment of breast cancer; LiPlaCis®, a liposomal formulation of cisplatin in phase 2 trials for breast and prostate cancer; 2X-111, a liposomal formulation of doxorubicin in the pipeline for Phase 2 breast cancer; and Irofulven, a phase 2 DNA-damaging agent for prostate cancer.
About the Drug Response Predictor – DRP® Companion Diagnostic
Oncology Venture uses its drug-specific DRP® to select patients who, based on the genetic signature of their cancer, have a high likelihood of responding to the specific drug. By screening patients before treatment, the response rate can be significantly increased. The DRP® method is based on the comparison of susceptible and resistant human cancer cell lines, including the genomic information of the cell lines combined with the clinical biology of the tumor and the results of previous clinical trials. The DRP® is based on messenger RNA from patient biopsies. DRP® has been proven to provide a statistically significant prediction of the clinical outcome of drug treatment in cancer patients in nearly 40 clinical studies that have been reviewed, including an ongoing prospective Phase 2 trial. The DRP® platform can be used in all types of cancer and is patented for more than 70 cancer drugs in the United States
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This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are beyond OV’s control, and which could cause actual results to differ materially from those discussed in the forward-looking statements. Forward-looking statements include statements regarding OV’s plans, objectives, goals, future events, performance and/or other information that is not historical information. All such forward-looking statements are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. OV undertakes no obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances after the date of publication, except as required by law.
Svensk Kapitalmarknadsgranskning AB, e-mail: firstname.lastname@example.org. Tel: +46 11 32 30 732
This information is information that Oncology Venture A/S is required to make public under the EU Market Abuse Regulation. The information was submitted for publication on May 7, 2020.