Scandion Oncology approved for listing on Spotlight
Scandion Oncology A/S (”Scandion Oncology”) is developing a new, innovative medical treatment which specifically target the mechanism cause resistance to treatment for cancer – something that cause cancer patients to fail with their treatment. Scandion Oncology was formed as a spin-out company from the University of Copenhagen and the research and development company Saniona AB The main purpose of the listing on Spotlight is to finance to initiate a Phase II clinical trial with the candidate drug SCO-101 in metastatic breast cancer patients with drug-resistant cancer.
Scandion Oncology’s leading product – SCO-101 – is taken as a capsule and in preclinical studies has been shown to significantly improve the effectiveness of standard cancer treatment when administered in combination with cancer drugs. SCO-101 inhibits key resistance mechanisms, which means that the standard cancer treatment are able to begin to function again. With this approach, the Company focuses on creating an additional complementary dimension to the current medical treatment of cancer. In addition to Scandion Oncology’s leading product SCO-101 the Company is developing SCO-201 with the focus on other solid tumors.
The target group for the candidate drug SCO-101 will be the major pharmaceutical and biotechnology companies who have already established cancer-fighting drugs on the market. Due to that SCO-101 will be “first in class” with new treatment mechanisms, Scandion Oncology expects a high degree of interest from these companies. In addition, chemotherapy is still the primary treatment model for drugs to fight cancer, and chemotherapy is expected to remain the primary treatment option for the next few years.
“Scandion Oncology is focused on developing cancer-fighting drugs that are able to block or circumvent drug resistance in cancer treatment. SCO-101 has successfully undergone four Phase I studies and is now ready for Phase II clinical trials in cancer patients with drug-resistant disease” said Nils Brunner, CEO of Scandion Oncology A/S.
As a condition for the approval, at least 60 percent of the issue shall be subscribed. This matches the pre-subscription already secured by the Company. Also, Spotlight’s ownership spread requirements must be met.
The memorandum will be available at spotlightstockmarket.com from the beginning of the subscription period.
The offer in summary:
Subscription price in the new share issue: SEK 5,85 per share
Subscription period: 4 October to 18 October 2018
New share issue volume: 4 444 444 shares, up to 25 999 997 SEK
Valuation: The company is valued pre-money at 43,7 MSEK
Expected first day of trading: 8 November 2018 under the ticker name SCOL
For more information, please contact:
Emelie Jarnesten
Head of Sales / Listings, Spotlight Stock Market
+46 8 511 68 023
listing@spotlightstockmarket.com