Hoersholm; July 29, 2015 – Medical Prognosis Institute A/S (MPI.CO) announced today the result of the emission prior to listing of Oncology Venture Sweden AB at AktieTorget. The emission was oversubscribed by 370 %. Oncology Venture is a spinout from and the drug development arm of MPI. After the IPO MPI is a major shareholder with 24 % of Oncology Venture Sweden AB.
MPI announced June 5th that Oncology Venture Sweden AB decided to go public on the Swedish AktieTorget aiming to raise between 16 million SEK to 21 million SEK. The subscription period ended June 24th with an oversubscription of 370 %. The result of the offering was subscription of 2,840,000 shares. The offering gives a total proceeds to Oncology Venture Sweden AB of approximately SEK 21,000,000. The investor base of Oncology Venture Sweden AB is approximately 1,340 after the public offering.
“We are very happy for the strong support from MPI investors as well as from the many new investors who we welcome in Oncology Venture. It is a pleasure that so many believes in the promise of the MPI DRP(TM) technology and its use in development of new anti-cancer treatment,” said Professor Peter Buhl Jensen, M.D., CEO of Oncology Venture and MPI. “A success of Oncology Venture will substantially verify the MPI DRP(TM) technology and add value to patients and both OV and MPI. Further MPI is a major shareholder of Oncology Venture and receives 10 % in royalty from project incomes,” Buhl Jensen further commented.
First day of trading on AktieTorget will be July 22nd 2015 under the trading code OV and ISIN code SE0007157409.
About Oncology Venture
Oncology Venture Sweden AB, a spinout from MPI, is focusing on finding and develop failed cancer drugs by conducting new, targeted-enrollment clinical trials utilizing highly predictive DRP(TM) Biomarkers to select, enroll, and treat the right patients and right cancers.
Medical Prognosis Institute advances personalized medicine by partnering with cancer drug developers to apply its DRP(TM) diagnostic platform to streamline and de-risk clinical trials and drug development via biomarker optimization, patient stratification, and development of companion diagnostics.
About MPI’s multiple biomarker called Drug Response Predictor – DRP(TM)
MPI’s lead product, the DRP(TM) diagnostic platform, is a tool to develop tumor-derived gene signatures that may predict which cancer patients are highly likely responders to a given anticancer product. The DRP(TM) has been tested in 32 trials, where 26 trials showed that drug-specific DRP(TM) Biomarkers could predict which patients had a positive effect of the treatment. The DRP(TM) platform has also been externally validated and published in collaboration with leading statisticians at the MD Anderson Cancer Center. The DRP(TM) method can be used to design the Clinical Development Plan, i.e. to select which indications are relevant for a given anticancer drug. Further to and in addition to this, individual patients’ gene patterns can be analyzed as part of a screening procedure for a clinical trial to ensure inclusion of those patients who have a high likelihood of response to the drug. The DRP(TM) platform can be used in all cancer types and has been patented for more than 60 anticancer drugs in the US.
For further information, please contact
CEO Peter Buhl Jensen, Professor, MD, PhD
Cell Phone: (+45) 21 60 89 22
Certified Advisor: Carsten Yde Hemme, PricewaterhouseCoopers, Strandvejen 44, 2900 Hellerup, Denmark