Scandion Oncology announces that one of its founders, Saniona, has reduced its shareholding to below 10% of the total share amount

Scandion Oncology A/S ("Scandion Oncology") announces that Saniona has reduced its ownership stake in Scandion Oncology A/S to below 10%. Saniona, together with CEO Nils Brünner and CSO Jan Stenvang initially founded Scandion Oncology A/S in 2017. After the last capital raise in June 2019, Saniona owned approximately 18% of Scandion Oncology. Proceeds from sales of shares will be used to continue Saniona’s advancement of their pipeline, including mid/late-stage clinical trials with Tesomet.

For further information regarding Scandion Oncology, please contact:

Nils Brünner, CEO

Phone: +45 26 14 47 08

E-mail: nb@scandiononcology.com

This information is information that Scandion Oncology is obliged to publish in accordance to the EU Market Abuse Regulation. The information was provided by the contact person above for publication on August 1, 2020.

Scandion Oncology A/S is a biotechnology company that addresses and targets one of the greatest challenges in modern oncology – the effective treatment of cancer which contains chemotherapy-resistant cells or which has developed resistance to a previously prescribed cancer-fighting drug. In preclinical in vitro studies, SCO-101 restores chemotherapy sensitivity in resistant cancer cells. Moreover, in animal studies, the company’s leading candidate drug, SCO-101, significantly enhances the efficacy of certain standard cancer treatments when given in combination. Scandion Oncology is now in clinical phase II trials with its lead compound, SCO-101, in patients with chemotherapy-resistant colorectal cancer. Scandion Oncology was listed on Spotlight Stock Market, Sweden in November 2018. For further information, please see: www.scandiononcology.com.