Registration of merger, de-listing of Oncology Venture from Spotlight Stock Market, last day of trading and record date for the merger
Hoersholm, Denmark, August 24, 2018 – Oncology Venture Sweden AB (“OV”) and Medical Prognosis Institute A/S (now Oncology Venture A/S) (the “Company”) hereby announce, as part of the completion of the previously announced merger between the two companies, that the merger has been registered with the Danish Business Authority and that the Danish Business Authority has notified the Swedish Companies Registration Office (Sw. Bolagsverket) that the legal effects of the merger have commenced. As part of the registration of the merger, the share capital in the Company has been increased to nominal DKK 2,513,563.90 as further described in the merger prospectus issued on May 1, 2018.
OV has applied for de-listing from Spotlight Stock Market (previously AktieTorget) and the last day of trading in OV shares will be August 31, 2018. After the OV shares have been de-listed from Spotlight Stock Market and the Swedish Companies Registration Office has de-registered OV from the Swedish Companies Register (Sw. Aktiebolagsregistret), those who are shareholders in OV as of September 7, 2018 (the record date for the merger) will receive 1.8524 new ordinary shares in the Company for each share held in OV. Distribution of the new ordinary shares that have been issued in the Company as merger consideration is expected to take place on September 11, 2018. Cash payments following the sale of fractional shares by Sedermera Fondkommission, as further described in the merger plan and the merger prospectus, are expected to be distributed to the entitled recipients on or around September 12, 2018. The shareholders do not have to take any actions in relation to the foregoing.
The Company has changed name from Medical Prognosis Institute A/S to Oncology Venture A/S in connection with the registration of the merger as further described in the merger prospectus. The Company will continue to be listed on Nasdaq First North and will as of September 3, 2018 be traded under the name “Oncology Venture A/S”.
For further information, please contact
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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® –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 includes: LiPlaCis® for breast cancer in collaboration with Cadila Pharmaceuticals; irofulven 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 U.S. Inc. (previously 2X Oncology Inc.), a US-based precision medicine company focusing developing two promising phase 2 product candidates, and OV-SPV 2, a Danish company that will test and potentially develop a Phase 2 oral Tyrosine Kinase inhibitor.
On the May 30, 2018, MPI A/S and Oncology Venture AB’s respective general assemblies decided to merge. Trading in the Oncology Venture AB share continues the next couple of months and all OV AB shares will - when the merger is finalized - give 1,8524 MPI shares.
This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside of OV’s control and which could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning OV’s plans, objectives, goals, future events, performance and/or other information that is not historical information. All such forward-looking statements are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. OV undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.
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 August 24, 2018.