Isofol's CEO Ulf Jungnelius has subscribed for all warrants
GOTHENBURG, Sweden, August 4, 2020 – Isofol Medical AB (publ) (Nasdaq First North Premier Growth Market: ISOFOL), today announced that the CEO Ulf Jungnelius has chosen to make full use of the opportunity to subscribe for all warrants in the incentive program for the CEO – The Warrant Program 2020.
The program, which was decided at the Annual General Meeting on June 24, 2020, has been designed as a supplementary program only aimed at the company's CEO who did not participate in Warrant Program “2018”. The program, which includes a maximum of 250,000 warrants, will result in a smaller dilution for the company's shareholders as the company cancels approximately 408,000 warrants from the 2018 warrants program. The maximum of 250,000 warrants entitles a subscription for a maximum of 370,000 shares (after the completion of the rights issue in June 2020). The subscription price amounts to SEK 37 per share.
"As I strongly believe in our opportunities to carry out our global phase III study AGENT, it is a matter of course for me to subscribe to all warrants," says CEO Ulf Jungnelius.
For further information, please contact
Isofol Medical AB (publ)
Jarl Ulf Jungnelius, M.D., Chief Executive Officer
Phone: +46 (0) 709 16 89 55
Pär-Ola Mannefred, Chairman of the Board
Telefon: +46 (0) 705 12 70 17
FNCA Sweden AB
Phone: +46 (0) 8 528 003 99
The information was submitted for publication, through the agency of the contact person set out above, at 12.30 PM CEST on August 4, 2020.
Arfolitixorin is Isofol’s proprietary drug candidate being developed to increase the efficacy of standard of care chemotherapy for advanced colorectal cancer. The drug candidate is currently being studied in a global Phase 3 study, AGENT. As the key active metabolite of the widely used folate-based drugs, arfolitixorin can potentially benefit all patients with advanced colorectal cancer, as it does not require complicated metabolic activation to become effective.
About the AGENT study
The Phase 3 AGENT study is a randomized, controlled, multi-centre study assessing the efficacy and safety of arfolitixorin, [6R]-5,10-methylene-THF acid (MTHF), compared to leucovorin, both used in combination with 5-FU, oxaliplatin, and bevacizumab, in first line metastatic colorectal cancer patients. Patients are randomized in a 1:1 ratio and the primary endpoint is overall response rate (ORR). The key secondary endpoints are progression free survival (PFS) and duration of response (DOR). Other secondary endpoints include overall survival (OS), number of curative metastasis resections, safety, and patient reported outcomes such as quality of life (QoL). Exploratory endpoints include pharmacokinetic (PK) measurements and level of gene expression of folate relevant genes in tumour cells. The study is designed to show superiority for arfolitixorin over leucovorin.
The study is ongoing at approximately 90 sites in the U.S., Canada, Europe, Australia and Japan. Further information about the study, including patient eligibility requirements, is available at www.clinicaltrials.gov id:NCT03750786.
About Isofol Medical AB (publ)
Isofol Medical AB (publ) is a clinical stage biotech company developing arfolitixorin to improve the efficacy of standard of care chemotherapy for advanced colorectal cancer by increasing tumor response and progression free survival. Isofol holds a worldwide exclusive license agreement with Merck KGaA, Darmstadt, Germany to develop and commercialize arfolitixorin for oncology indications. Isofol Medical AB (publ) is traded on the Nasdaq First North Premier Growht Market. Certified Adviser is FNCA Sweden AB.