Oncology Venture Sweden AB announces start of subscription period of the rights issue

Today, on March 16, 2017, the subscription period in Oncology Venture Sweden AB´s (“Oncology Venture”) rights issue, starts. The rights issue is also open to the public. The subscription period ends on March 30, 2017. Fully subscribed rights issue provides Oncology Venture approximately SEK 52.9 million before issuing costs. Beforehand, the company has agreed on subscription commitments amounting to approximately SEK 18.9 million, which equals about 35.7 % of the rights issue’s total volume. Prospectus, teaser and subscription form are available on the websites of the company (www.oncologyventure.com), AktieTorget (www.aktietorget.se) and Sedermera Fondkommission (www.sedermera.se).

Operations are proceeding with the company's three previously in-licensed drug candidates; APO010, Irofulven and LiPlaCis®. APO010 is in early clinical Phase 1/2 development – Clinical Trial Application has been submitted to the Danish authorities. Start of study is expected in Q1 2017 if existing product is approved. Irofulven is in a Phase 2 study in patients with prostate cancer. Clinical Trial Application is expected to be filed in Q2 2017. Regarding LiPlaCis® are three out of four in total Danish centers now active in recruiting 12-15 metastatic Breast Cancer patients screened and expected to be highly likely responders to LiPlaCis®. The Phase 1/2 study is expected to be finalized in Q3 2017. In addition, the company's partner Cadila Pharmaceuticals Ltd. is about to initiate four Phase 2 trials and a Phase 3 trial with LiPlaCis©. Oncology Ventures spin-out company 2X Oncology Inc.'s pipeline has two signed term sheets and one term sheet under negotiation and the spin-out company OV SPV2 ApS is currently negotiating the final transaction terms regarding an oral tyrosine kinase inhibitor from a big pharma company. 

The Board of Oncology Venture has decided to prepare the company for changing marketplace for the company's shares from AktieTorget to Nasdaq Stockholm Small Cap, which is planned to take place during 2018.

“2016 has been an eventful year for Oncology Venture where we have taken a big leap towards our goal to develop precision medicines for cancer patients. Efforts to develop LiPlaCis®, APO010 and Irofulven combined with its Drug Response Predictor – DRPTM – is progressing well. Four other products that live up to our quality criteria are in late negotiation and preparation to jumpstart 2X Oncology Inc. and OV-SPV2 ApS. Oncology Venture will retain a significant ownership of these drugs and I expect that we in 2017 will have seven strong product candidates in phase 2 development. We are in an important stage of development and have a number of very exciting projects in the pipeline, where we believe DRPTM will have a substantial impact. I am confident that the coming year, with up to seven products in the pipeline, will be even more exciting than the previous year”, said Peter Buhl Jensen, Adjunct professor, MD, PhD and CEO of Oncology Venture.

Summary of the Offer

• Subscription Period: 16 – 30 March, 2017.

• Record Date and Preferential: Last day of trading in Oncology Ventures stock shares including the right to receive subscription rights was 8 March, 2017 and the first day of trading excluding the right to receive subscription rights was 9 March 2017. The record date was March 10, 2017.

Each currently held stock share qualifies for one (1) subscription right. Possession of eight (8) subscription rights entitle to subscription of one (1) new share.

• Issue price: 42.00 SEK per stock share.

• Volume of Issuance: Oncology Venture is hereby conducting a rights issue of 52,892,658 SEK, comprising a maximum of 1,259,349 shares. The rights issue is also open to the public.

• Subscription commitments: Oncology Venture has received subscription commitments of approximately SEK 18.9 million, which equals around 35.7 % of total volume of issuance.

• Number of shares before the rights issue: 10,074,794 shares.

• Valuation (pre-money): Approximately SEK 423.1 million.

• Trading in subscription rights: Trading in subscription rights will be done at AktieTorget during the time period 16 – 28 March, 2017.

• Trading in BTA: Trading in BTAs (paid subscription share) will take place on AktieTorget from 16 March 2017 until Bolagsverket (the Swedish Company Authority) has registered the new rights issue. This registration is expected to take place at the end of April 2017.

Subscription commitments

Oncology Venture has received subscription commitments of approximately SEK 18.9 million, of which Chairman of the board Duncan Moore invest 555,702 SEK, board member Peter Birk invest 12,726 SEK and board member Ulla Hald Buhl and CEO Peter Buhl Jensen invest 1,275,162 SEK (via Buhl Krone Holding). The total amount equals to about 35.7 % of the rights issue’s total volume. 

Investor Meetings

In connection with the new share issue, Oncology Venture will participate in investor meetings in order to provide information about the company’s business operations as well as to discuss its future plans. There is no charge to attend the investor meetings, and refreshments will be served. For further information about the investor meetings, please visit Sedermera Fondkommission’s website (www.sedermera.se) or feel free to contact Sedermera Fondkommission via telephone at +46 (0)40-615 14 10 or via e-mail: event@sedermera.se.

The Prospectus, Danish/English Prospectus, subscription form and teaser

Prospectus, teaser and subscription form are available on the websites of the company (www.oncologyventure.com), AktieTorget (www.aktietorget.se) and Sedermera Fondkommission (www.sedermera.se). In addition, the corresponding Danish/English prospectus, teaser and subscription form for subscribers resident in Denmark is available on the websites of the company, AktieTorget and Sedermera Fondkommission.

Financial advisor

Sedermera Fondkommission is the financial advisor to Oncology Venture in connection with the rights issue.

For questions related to the rights issue, please contact:

Sedermera Fondkommission

Telephone: + 46 40-615 14 10

E-mail: info@sedermera.se

For further information about Oncology Venture, please contact:

This information is information that Oncology Venture Sweden AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on March 16, 2017.

About Oncology Venture Sweden 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 clinical outcomes from drug treatment in cancer patients in 29 of the 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 screened first and only those who are most likely to respond to the treatment will be treated. Via a more well-defined patient group, the risk and costs are reduced while the development process becomes more efficient.

The current product portfolio: LiPlaCis for Breast Cancer, Irofulven developed from a fungus for prostate cancer and APO010 – an immuno-oncology product for Multiple Myeloma.

Oncology Venture has spun out two companies in Special Purpose Vehicles: 2X Oncology Inc. a US based company focusing on Precision medicine for women’s cancers with a pipeline of three promising phase 2 product candidates and Danish OV-SPV 2 will test and potentially develop an oral phase 2 Tyrosine Kinase inhibitor.