Hørsholm, Denmark, August 21, 2020 – Oncology Venture A/S (Nasdaq First North Stockholm: OV.ST) (“OV” or the “Company”) today announces that it has called upon Global Corporate Finance (GCF) to invest in the Company in a directed share issue in accordance with the Company’s share subscription agreement with GCF. A total of 5,980,020 shares at a price per share of SEK 1.3420441 is issued to Global Corporate Finance.
The share price is fixed at SEK 1.3420441 per share of nominal DKK 0.05 share and has been calculated as 95% of the daily volume weighted average price (VWAP) of the Company’s shares for the five (5) consecutive trading days following 11 August 2020, the date of the draw down notice from OV.
The registered share capital of Oncology Venture will after the conversion be nominal DKK 9,587,717.55 divided into 191,754,351 shares of nominal DKK 0.05 each.
The investment is the second investment tranche Oncology Venture has requested from Global Corporate Finance (New York City, NY, U.S.). Oncology Venture may call upon up to a total investment of SEK 50 million in a series of tranches, no single tranche may exceed SEK 10 million.
For further information on the conditions and structure of the financing agreement; please, refer to the press release concerning the agreement published by Oncology Venture on May 6, 2020.
For further information, please contact:
Henrik Moltke, CFO
Telephone +45 21 70 10 49
About Oncology Venture A/S
Oncology Venture A/S (Nasdaq First North Growth Market Stockholm: OV.ST) develops drugs for the personalized treatment of cancer using drug-specific companion diagnostics (cDx) generated by its proprietary drug response predictor technology, DRP®. The Company has three high-priority programs: 2X-121 – a PARP inhibitor in Phase 2 trials for treatment of ovarian cancer; IXEMPRA® (Ixabepilone) – an approved and marketed (U.S.) microtubule inhibitor being advanced for Phase 2 clinical development (in EU) for treatment of breast cancer; and Dovitinib – a pan-tyrosine kinase inhibitor (pan-TKI) that is post Phase 3 trials, being prepared for a U.S. new drug approval (NDA) filing in renal cell carcinoma (RCC).
About the Drug Response Predictor – DRP® Companion Diagnostic
Oncology Venture uses its drug-specific DRP® cDx to select those patients who, by the genetic signature of their cancer, are found to have a high likelihood of responding to the specific drug. The DRP® method builds on the comparison of sensitive vs. resistant human cancer cell lines, including genomic information from cell lines combined with clinical tumor biology and prior clinical trial outcomes. The DRP® platform can be used in all cancer types and is patented for more than 70 anti-cancer drugs in the U.S.
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Learn more at oncologyventure.com.
DRP® is a registered trademark of Oncology Venture A/S.
This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside of OV’s control and which could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning 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 which may accompany the forward-looking statements. OV undertakes no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.
Svensk Kapitalmarknadsgranskning AB, Email: email@example.com. Tel: +46 11 32 30 732
This information is information that Oncology Venture A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on August 21, 2020.