Isofol’s largest shareholder and co-founder acquires shares in the company
Isofol Medical AB (publ) announces today that its largest shareholder and co-founder, Bengt Gustavsson, now acquired circa 16 000 shares in Isofol to a value of circa SEK 0.44 million after the share was listed today at Nasdaq First North Premier. Bengt Gustavsson thereby increased his ownership in Isofol to 3,433,485 shares.
For additional information, please contact:
Anders Rabbe, Managing Director, Isofol
Mob: +46 70 764 65 00
Jan-Eric Österlund, Executive Chairman, Isofol
Mob: +44 77 853 68 155
About Isofol Medical AB (publ)
Isofol is a clinical stage oncology company developing Modufolin® as a first-line treatment of metastatic colorectal cancer and as a rescue drug after high-dose methotrexate treatment in osteosarcoma. Isofol aims to replace the existing folate-based compounds leucovorin and levoleucovorin, which today are considered the standard treatment within these indications. Through an exclusive license agreement, Isofol Medical holds all rights to commercialising Modufolin® globally for cancer treatment with access to the unique patented production process and the production capabilities of Merck KGaA, Darmstadt, Germany.
Modufolin® (active ingredient [6R]-5,10-methylenetetrahydrofolate), is a novel folate-based compound developed to increase the efficacy and reduce the side effects of antimetabolites used in cancer treatment. It is the key active metabolite of the widely used folate-based drugs leucovorin and levoleucovorin, and therefore does not require metabolic activation. This makes Modufolin® suitable for all patients irrespective of their genetical capacity to activate folates, and it is currently being evaluated in two clinical Phase II studies.
Third most common cancer
Colorectal cancer is the third most common cancer, affecting both men and women, and is the third leading cause of cancer-related death. Approximately 1.35 million people per year are diagnosed with the disease worldwide. In the US, Western Europe and Japan, where an estimated 550,000 patients are diagnosed with colorectal cancer, about 365,000 patients annually receive a treatment regimen including 5-FU and the folate leucovorin or levoleucovorin, which Isofol is aiming to replace with Modufolin®.