Eurocine Vaccines publishes half-year report for July - December 2021

Eurocine Vaccines AB (“Eurocine Vaccines”) hereby publishes the half-year report for July to December 2021. Below is a summary of the report. The full report is available on the Eurocine Vaccines website (https://www.eurocine-vaccines.com/) and as an attachment.

2021-10-01– 2021-12-31 (second quarter)

• Results after tax for the quarter amounted to -5.3 MSEK (-4.4 MSEK)
• Revenues for the quarter amounted to 0 KSEK (67 KSEK)
• Earnings per share for the quarter amounted to -0,373 SEK (-0,553 SEK)*

2021-07-01– 2021-12-31 (the period, six months)

• Results after tax for the period amounted to -9.3 MSEK (-7.6 MSEK)
• Revenues for the period amounted to 0 KSEK (379 KSEK)
• Earnings per share for the period amounted to -0,656 SEK (-0.962 SEK)*

*During the third quarter, of the financial year 2020/2021, the Company carried out a merger of shares in the ratio 1:100, which reduced the number of shares from 789,541,300 to 7,895,413. Historical key figures per share have been recalculated with regards to the merger, which took place January 24th, 2021.

CEO Hans Arwidsson comments

“The need for modern and effective vaccines is great, not least for such a globally widespread infection as chlamydia. The end of 2021 has been an important period for the continued development of our chlamydia vaccine candidate, which of course motivates us in the continued work of developing a preventive vaccine against chlamydia infection.

Our latest preclinical study has provided us with additional data in preparation of the clinical study on our chlamydia vaccine candidate. The preclinical results show that interferon-gamma-producing CD4 T-cells have been detected after intramuscular injection, in addition to the previously confirmed antibody responses. These are very promising results, which indicate that our vaccine candidate generates an effective barrier that can prevent infection, but can also lead to more effective healing of an infection that has started. The results also take us further in the right direction and enable us to start 2022 strongly through ongoing and planned activities.

To maximize the probability of a rapid approval of our planned clinical study, we have decided to seek scientific advice from the Swedish Medical Products Agency. We see great advantages with this approach as it will give us an additionally strengthened basis for the documentation, which is a critical factor for our application to be approved quickly. This means that the clinical study can be started during the first half of 2023 and we make the assessment that the scientific advice will strengthen the project in the longer term, which is to the benefit of the company’s shareholders.

The preparations during 2022 for the planned clinical study will be financed by capital from the exercise of warrants of series TO 4 whose exercise period runs between 14–28 March 2022. Our largest shareholder Flerie Invest AB, has agreed on both subscription commitments and guarantee subscriptions, thereby ensuring that at least approximately 61.5 percent of the warrants will be exercised. We are grateful for the trust Flerie Invest has given us. Their solid background in the life science sector demonstrates confidence in Eurocine Vaccines and our future development.

Finally, I want to give a glimpse of what fills a large part of my own time – business development. It includes two parts, partly we work long-term to prepare potential partners for the vaccine candidate against chlamydia and partly we work to expand our portfolio of innovative vaccine candidates to develop until they are attractive for licensing to larger vaccine companies. Expansion of the portfolio includes identification, evaluation and negotiation of additional vaccine candidates, and at the end of 2021 we have worked mostly with the two later steps.

As you can see, it has been a developing and important end to 2021 for Eurocine Vaccines. I look forward to future work that I am confident will continue to make Eurocine Vaccines attractive, as a leading player in innovative vaccine development.

Follow us at the upcoming presentation at Aktiespararna, Aktiedagen Stockholm on 14 March and see our previous presentation, Aktiedagen Lund on 31 January.”

Highlights during the period

Eurocine Vaccines’ Chlamydia vaccine candidate elicits both antibody and T cell responses

In December 2021, Eurocine Vaccines announced new preclinical study results, showing that intramuscular immunization with the Chlamydia vaccine candidate elicits an excellent T cell response, in addition to the previously confirmed antibody responses. Achieving this combination of antibodies and T cells indicates that the company’s vaccine candidate generates an effective barrier, which can prevent infection as well as promote clearance of infected cells.

Eurocine Vaccines resolves on scientific advice with the Swedish Medical Products Agency ahead of clinical trial application

In December 2021, the Board of Directors of Eurocine Vaccines resolved to request scientific advice from the Swedish Medical Products Agency ahead of submitting the clinical trial application with the company’s vaccine candidate against Chlamydia. The scientific advice aims to strengthen Eurocine Vaccines’ documentation and maximize the probability of a swift approval of the application. As a consequence, Eurocine Vaccines plans to initiate the clinical study in the first half-year 2023.

Eurocine Vaccines announced change in ownership structure

In October 2021, Eurocine Vaccines announced that Flerie Invest AB had acquired shares in the company and held above 10 % of the shares. Flerie Invest AB held in October approximately 12.55 % of the votes and capital. Further, Eurocine Vaccines announced that Formue Nord Markedsneutral A/S had decreased its holdings to approximately 3.09 % of the votes and capital.

Eurocine Vaccines held its Annual General Meeting

In December 2021, Eurocine Vaccines held its Annual General Meeting. A summary of the resolutions is available on Eurocine Vaccines website (https://www.eurocine-vaccines.com/).

Hans Arwidsson, Ph.D., MBA

CEO of Eurocine Vaccines AB
hans.arwidsson@eurocine-vaccines.com

+46 70 634 0171

Eurocine Vaccines is a development company in the highly intense vaccine area, bridging the gap between innovation and market.

Through its portfolio strategy, innovative vaccine candidates are given the opportunity to reach the market quicker, while investors are offered risk diversification with a big future leverage. These candidates are later licensed to partners for commercialization.

The company is in the possession of its own technology platform, Endocine™, which has been tested in four extensive clinical studies with over 400 subjects.

Listed at Spotlight Stock Market, XSAT, Eurocine Vaccines, EUCI, today operates at the heart of the bio-scientific cluster of Karolinska Institutet, Solna, Sweden and has attracted several internationally merited vaccine specialists to its board.