Hoersholm; June 14, 2016 – Medical Prognosis Institute A/S (MPI.CO) (Denmark and Phoenix, AZ, USA) announces that some of the warrants previous issued are not valid and therefore the Articles of Association will be changed accordingly. The Company intends to issue the same warrants after required approval at a general meeting.
The board of directors has been made aware and has acknowledged that nominal DKK 34,811 warrants (equal to 696,220 warrants following share split on 20 April 2016) issued by the board of directors to the board of directors of the Company on respectively 14 December 2014 and 18 February 2016 are not valid since they did not comply with the formal requirements in the Danish Companies Act as the Company had not prior to such issues duly adopted and obtained approval from the general meeting of incentive guidelines pursuant to the Danish Companies Act Section 139.
Consequently, the board of directors has decided to amend the articles of association of the Company to reflect the number of warrants issued on respectively 14 December 2014 and 18 February 2016 as follows.
The authorisation given in section 6.1 of the Company’s articles of association concerning issue of warrants without any pre-emption rights for the Company’s existing shareholders is nominal DKK 34,811 (equal to 696,220 warrants following share split on 20 April 2016).
The board of directors has decided that after the Company has been listed on Nasdaq First North Stockholm it will convene an extraordinary general meeting in order to present guidelines pursuant to the Danish Companies Act Section 139 for approval. Subject to such approval and fulfilment of other legal requirements, the board of directors will subsequent issue warrants identical in numbers and terms to the warrants, that did not comply with the Danish Companies Act.
Medical Prognosis Institute is a publicly traded international company specialized in improving cancer patients lives by developing Personalized Medicine using its unique DRP(TM) technology. MPI’s exceptional opportunity to personalize cancer treatment – begins with Breast Cancer moving on to Multiple Myeloma and Prostate Cancer as the first steps. MPI’s DRP(TM) tool has shown its ability to separate patients who benefit and who do not benefit from a specific cancer treatment. This has been shown in as many as 29 out of 37 trials, and covers more than 80 anti-cancer treatments in a wide range of cancer indications. MPI has built a significant large database with over 1,000 screened breast cancer patients and is building up a database in Multiple Myeloma to be followed by Prostate cancer in collaboration with oncologists and hematologists throughout Denmark.
About MPI’s multiple biomarker called Drug Response Predictor – DRPTM
MPI’s DRPTM is a tool for developing tumor-derived genetic signatures to predict which cancer patients are high likely to respond to a given anti-cancer product. The DRPTM has been tested in 37 trials, where 29 trials showed that drug-specific DRPTM Biomarkers could predict which patients responded well to the treatment. The DRPTM platform has amongst others been externally validated and published in collaboration with leading statisticians at the MD Anderson Cancer Center. The DRPTM method can be used to design the Clinical Development Plan, i.e. to select which indications are relevant for a given anti-cancer drug. In addition to this, the individual genetic patterns of patients can be analyzed as part of a screening procedure for a clinical trial to ensure inclusion of patients with a high likelihood of response to the drug. DRPTM builds on comparison between sensitive and resistant human cancer cell lines, including genomic information from cell lines combined with clinical tumor biology and clinical correlates in a systems biology network. MicroRNA is used on certain products whereas the messengerRNA is more broadly useable and more validated. The DRPTM platform can be used in all cancer types, and has been patented for more than 60 anti-cancer drugs in the US.
For further information, please contact:
CEO, Peter Buhl Jensen, Adjunct Professor, MD, Ph.d. Ulla Hald Buhl, IR & Communication
E-mail: [email protected] E-mail: [email protected]
Telephone: +45 21 60 89 22 Telephone: +45 21 70 10 49
Certified Advisor: Carsten Yde Hemme, PricewaterhouseCoopers, Strandvejen 44, 2900 Hellerup, Denmark