MPI has now executed transfer of the last tranche of the Oncology Venture shares sold during May
Medical Prognosis Institute A/S (”MPI”) hereby announces that the last tranche of its holdings in Oncology Venture Sweden AB (”Oncology Venture”) is now transferred. As earlier announced MPI has as part of the merger capitalized it’s shareholding in Oncology Venture. The sale of the shares was announced in May 31, 2018. The last tranche of the sold shares (662,038) is now being transferred to the new owners. Please note that Peter Buhl Jensen will - as the CEO on behalf of MPI - be noted as the responsible person for the sale.
For further information, please contact
|Ulla Hald Buhl, COO and Chief IR & Communications Mobile: +45 2170 1049 E-mail: firstname.lastname@example.org||Or||Peter Buhl Jensen, CEO Mobile: +45 21 60 89 22 E-mail: email@example.com|
About the Drug Response Predictor - DRP® Companion Diagnostic
Oncology Venture uses the Medical Prognosis Institute (MPI) multi gene DRP® to select those patients who by the genetic signature of their cancer are found to have a high likelihood of responding to the drug. The goal is developing the drug for the right patients, and by screening patients before treatment the response rate can be significantly increased. 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 clinical correlates in a systems biology network. DRP® is based on messenger RNA from the patient’s biopsies.
The DRP® platform, i.e. the DRP® and the PRP™ tools, can be used in all cancer types and is patented for more than 70 anti-cancer drugs in the US. The PRP® is used by MPI for Personalized Medicine. The DRP® is used by Oncology Venture for drug development.
DRP® is a registered trademark of Medical Prognosis Institute A/S.
About Oncology Venture AB
Oncology Venture Sweden AB is engaged in the research and development of anti-cancer drugs via its wholly owned Danish subsidiary Oncology Venture ApS. Oncology Venture has a license to use Drug Response Prediction – DRP® – in order to significantly increase the probability of success in clinical trials. DRP® has proven its ability to provide a statistically significant prediction of the clinical outcome from drug treatment in cancer patients in 29 out of 37 clinical studies that were examined. The Company uses a model that alters the odds in comparison with traditional pharmaceutical development. Instead of treating all patients with a particular type of cancer, patients’ tumors genes are first screened, and only the patients most likely to respond to the treatment will be treated. Via a more well-defined patient group, risks and costs are reduced while the development process becomes more efficient.
The current product portfolio: LiPlaCis® for Breast Cancer in collaboration with Cadila Pharmaceuticals, Irofulven developed from a fungus for Prostate Cancer, and APO010: an immuno-oncology product for Multiple Myeloma.
Oncology Venture has spun out two companies as Special Purpose Vehicles: Oncology Venture US Inc. (previously 2X Oncology Inc.) is a US based company focusing on precision medicine, currently with a pipeline of two promising phase 2 product candidates.
OV-SPV 2 is a Danish company that will test and potentially develop an oral phase 2 Tyrosine Kinase inhibitor.