Scandion Oncology A/S – Flagging message

Scandion Oncology A/S (”Scandion Oncology” or “the Company”) hereby announces that due to dilution in connection to the recently announced rights issue, that was fully subscribed, the shareholders Saniona AB, Jan Stenvang and Nils Brünner passes the 5 percent limit. Each party's votes and capital in the Company previously exceeded 5 percent. Following the completion of the rights issue, the parties' votes and capital will be less than 5 percent.

Jan Stenvang, Chief Technology Officer in Scandion Oncology, previously owned 1,391,064 shares (approximately 6.5 percent), and will after registration own 1,391,519 shares, corresponding to approximately 4.3 percent of the votes and capital in the Company.

Nils Brünner, Chief Scientific Officer in Scandion Oncology, previously owned 1,085,370 shares (approximately 5.1 percent), and will after registration own 1,089,915 shares, corresponding to approximately 3.4 percent of the votes and capital in the Company.

For further information regarding Scandion Oncology, please contact:

Bo Rode Hansen, CEO

Phone: +45 3810 2017

E-mail: info@scandiononcology.com

Website: www.scandiononcology.com

Scandion Oncology A/S is a clinical stage II biotechnology company currently developing first-in-class, oral add-on drugs to existing market leading anti-cancer therapies. As add on to standard anti-cancer therapies, it introduces an effective treatment approach for cancer, which is or has become resistant to cancer-fighting drugs, offering the potential for better response rates, longer survival and improved quality of life. The first-in-class lead candidate, SCO-101, is currently in clinical Phase II. The Company is targeting cancer drug resistance in various treatment modalities including, chemotherapy, anti-hormonal therapy and immunotherapy. Scandion Oncology was listed on Spotlight Stock Market, Sweden in November 2018. Ticker code: SCOL.