Option programmes in Oncology Venture Sweden AB
At the Extraordinary General Meeting of shareholders of Oncology Venture Sweden AB (”Oncology Venture”) on 28 June 2015, it was decided to introduce three option programmes for the Company’s employees and board members. The option programmes comprise a total of 325,000 subscription warrants. The purpose of introducing the option programmes of the Company has been previously announced via the memorandum published on the Company’s website on 5 June 2015.
Option Programme 1
The first option programme comprises 170,000 subscription warrants and is directed to key employees who have worked with Oncology Ventures’ IPO. The subscription warrants were granted free of charge and can be subscribed for during a period which runs until 22 August 2018. Each subscription warrant entitles the holder to subscribe for one new share of Oncology Venture at a price of SEK 7.40 per share. The option programme was introduced in order to increase the Company’s ability to attract competent personnel internationally and to facilitate reduced costs for the Company. The subscription warrants have a lock-up period of one year, which is transferred to the shares if the subscription options are exercised during the first year. The holders of these subscription warrants will not be able to participate in any of the other options programmes. The option programme will not entail any tax consequences for the Company.
Option holders Option Programme 1
| Name | Number of options: |
| Nikolaj Jensen | 100,000 |
| Sune Hansen | 40,000 |
| Thomas Jensen | 30,000 |
| Total | 170,000 |
Option Programme 2
The second option programme comprises 125,000 subscription warrants which were granted free of charge and is directed to the Company’s employees, including the board member and COO Ulla Hald Buhl, CSO Nils Brünner and board member Steen Knudsen, who each obtained 10,000 subscription warrants. One-third of the subscription warrants may be subscribed for at a price of SEK 8.14 per share during a period which runs from 1 August 2016 until 22 August 2018. An additional one-third of the subscription warrants may be subscribed for at a price of SEK 8.954 per share during a period which runs from 1 August 2017 until 22 August 2018. The remaining one-third of the subscription warrants may be subscribed for at a price of SEK 9.849 per share during a period which runs from 1 August 2018 until 22 August 2018. Each subscription warrant entitles the holder to subscribe for one (1) new share of the Company. In the situation where holder leaves his employment before the initial subscription period, all options are to be returned back to the Company; if the holder leaves his employment after the initial subscription period, two-thirds of the options are to be returned back to the Company; and if the holder leaves his employment after the second subscription period, one-third of the options are to be returned back to the Company. Precisely like the above option programme, this option programme was introduced in order to increase the Company’s ability to attract competent personnel internationally and to facilitate reduced costs for the Company. The option programme will not entail any tax consequences for the Company.
Option Programme 3
The third option programme comprises 30,000 subscription warrants and is directed to Chairman of the Board Duncan Moore and Sanjeevi Carani, who is a board member of Oncology Venture. Each subscription warrant entitles the holder to subscribe for one (1) new share of the Company at a price of SEK 15.00 per share. The subscription warrants may be subscribed for during a period which runs from 1 August 2018 until 22 August 2018. An offer is made to Moore and Sanjeevi to acquire subscription warrants at a price of SEK 1.15 per option. The option programme was introduced in order to attract and retain board members with internationally expertise.
Option holders Option Programme 3
| Name | Number of options: |
| Duncan Moore | 20,000 |
| Sanjeevi Carani | 10,000 |
| Total | 30,000 |
For further information concerning Oncology Venture please contact:
Peter Buhl Jensen, CEO
Telephone: +45 21 60 89 22
E-mail: pbj@oncologyventure.com
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. The business enterprise is based on “rescuing” anti-cancer drugs whose development has been interrupted in the clinical development stage. DRP™ has proven its ability to provide a statistically significant prediction of clinical outcomes from drug treatment in cancer patients in 26 of the 32 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 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.