Cyxone to propose new share issue to complete Rabeximod acquisition

As previously announced, Cyxone acquired Rabeximod from OxyPharma in June 2017. Rabeximod has undergone Phase 2 trials in patients with moderate to severe rheumatoid arthritis in which significant improvements in the condition's symptoms were discovered four weeks after the completion of the formal (12 week) trial period.

Cyxone plans to conduct a new, so-called Phase 2B trial with Rabeximod under essentially identical conditions, but with the key difference that patients will be treated for twice as long (24 weeks) as the previous Phase 2 trial.

Taking Rabeximod through a complete Phase 2B programme, (including animal studies and clinical programmes), requires a fresh capital injection in addition to the capital the company received to conduct T20K Phase 1 clinical trials.

Cyxone estimates that the new Rabeximod programme will cost some SEK 60 million.

During the current six-month period, Cyxone has presented the company's project portfolio, focusing on Rabeximod, to institutional investors, company funds, and so-called "family offices" in Switzerland, Germany, France, the UK, China, Scandinavia, and the US.

Company management has therefore decided to call an Extraordinary General Meeting on December 11 at 10AM in Malmö to provide more details about our financing work, and seek shareholder support for a share issue to conduct a Phase 2B trial with Rabeximod in patients with rheumatoid arthritis. 

November 23, 2017

Cyxone AB (publ)
Kjell G. Stenberg, CEO
Tel: +46 (0)723 816168
Adelgatan 21
211 22 Malmö

This is information that Cyxone AB is required to publish under the EU Market Abuse Directive. The information was provided under the auspices of the above contact person for publication on November 23, 2017 at 08:50 CET.

About Cyxone
Cyxone AB (publ.) is a biopharmaceutical company that develops drugs based on cyclotides, a class of natural plant protein. Cyclotide technology has the potential to provide new drugs with beneficial pharmacological effects on diseases that currently lack safe and effective treatments. The company is focusing on the development of substances that inhibit key processes in cells that are typically associated with various immune disorders, such as multiple sclerosis and rheumatoid arthritis. Cyxone's Certified Adviser on the Nasdaq First North is Erik Penser Bank, which can be reached on +46 (0) 8 46 38 000.

About Us

Cyxone AB is a clinical stage biotech company with a portfolio of immunomodulating drugs for the treatment of autoimmune diseases such as multiple sclerosis (MS) and rheumatoid arthritis (RA). The company’s drug portfolio is based on two technological pillars in the form of oral molecules and cyclotide-based drugs that inhibit key processes in the body’s cells that are typically associated with various immune-related disorders. Cyxone’s technologies have the potential to address an unmet need and provide new effective and safe medicines that can improve the quality of life for patients affected by autoimmune diseases. The company has two drug candidates, T20K for MS in a preclinical program and Rabeximod for RA in clinical phase II-program. Cyxone’s Certified Adviser on the Nasdaq First North is Erik Penser Bank, +46 (0)8


Documents & Links