Hoersholm, Denmark, July 5th, 2017 - Medical Prognosis Institute A/S ("MPI") today announced that approximately SEK 10,3 million before issue costs has been raised. This amount secures financing until H2 2018. A total of 694 715 new shares have been subscribed for. MPI will thus be provided approximately SEK 10,3 million before issue costs. Issue costs will amount to approximately SEK 0,9 million. Contract notes are scheduled to be sent out today, July 5th, 2017. The funds from the rights issue will enable MPI to continue the development of the PRPTM platform, which comprises the main element in MPI's focus towards personalized medicine.
"I want to thank the investors who signed up for this capital raise for their support by the adding of new working capital to the company. We have now secured financing until H2 2018. I believe we have a very exciting journey ahead of us in our continued strive to bring Personalized Medicine to cancer patients.", said Peter Buhl Jensen, Adjunct Professor, M.D., PhD and CEO for MPI.
Subscription and allotment of rights issue
In total, the received subscriptions correspond to SEK 10 268 654,40 (including subscription undertaking) and DKK 10 014,23, representing a total subscription rate of approximately 85,3 %. Through the rights issue, 693 828 new shares, equivalent to approximately 85,2 % of the rights issue, are issued through Euroclear. Furthermore, a total of 887 new shares, corresponding to DKK 10 014,23 equivalent to approximately 0,1 % of the total rights issue, are issued through VP Securities. A total of 694 715 shares are issued and MPI will be provided approximately SEK 10,3 million before issue costs, which are estimated at approximately SEK 0,9 million. 507 057 shares (approximately 73 % of the subscribed issue volume) will be given to subscribers with preferential rights. Those who receive shares without subscription rights will receive contract notes, which are expected to be sent out today, July 5th, 2017. Subscribers that are not allocated shares will not receive contract notes.
Shares and share capital
After the new rights issue registration, the total number of shares in MPI will increase to 24 307 555 shares. The total share nominal value after the registration will be DKK 1 215 377,75.
Trading in BTA
Only BTA's issued through the Euroclear-system are tradeable on Nasdaq Stockholm First North. Trading in BTA's will take place on Nasdaq Stockholm First North until the rights issue is registered at the Danish Business Authority. Registration is expected to occur in mid-July, 2017.
Sedermera Fondkommission is the financial advisor to MPI in connection with the rights issue.
For questions related to the rights issue, please contact:
Telephone: + 46 40-615 14 10
For further information, please contact:
CEO, Peter Buhl Jensen, Adjunct Professor, MD, Ph.D. Ulla Hald Buhl, IR & Communication
E-mail: email@example.com E-mail: firstname.lastname@example.org
Telephone: +45 21 60 89 22 Telephone +45 21 70 10 49
About MPI's multiple biomarker called Drug Response Predictor - DRP(TM)
MPI's DRP(TM) is a tool for developing tumor-derived genetic signatures to predict which cancer patients are high likely to respond to a given anti-cancer product. The DRP(TM) has been tested in 37 trials, where 29 trials showed that drug-specific DRP(TM) Biomarkers could predict which patients responded well to the treatment. The DRP(TM) platform has amongst others been externally validated and published in collaboration with leading statisticians at the MD Anderson Cancer Center. The DRP(TM) method can be used to design the Clinical Development Plan, i.e. to select which indications are relevant for a given anti-cancer drug. In addition to this, the individual genetic patterns of patients can be analyzed as part of a screening procedure for a clinical trial to ensure inclusion of patients with a high likelihood of response to the drug. DRP(TM) builds on comparison between sensitive and resistant human cancer cell lines, including genomic information from cell lines combined with clinical tumor biology and clinical correlates in a systems biology network. The DRP(TM) is a Big Data tool based on messenger RNA. The DRP(TM) platform can be used in all cancer types, and has been patented for more than 70 anti-cancer drugs in the US.
Medical Prognosis Institute is a publicly traded international company specialized in improving cancer patients' lives by developing Personalized Medicine using its unique DRP(TM) technology. MPI's exceptional opportunity to personalize cancer treatment begins with Breast Cancer moving on to Multiple Myeloma and Prostate Cancer as the first steps. MPI's DRP(TM) tool has shown its ability to separate patients who benefit and who do not benefit from a specific cancer treatment. This has been shown in as many as 29 out of 37 trials, and covers more than 80 anti-cancer treatments in a wide range of cancer indications. MPI has built a significant large database with over 1,000 screened breast cancer patients and is building up a database in Multiple Myeloma to be followed by Prostate cancer in collaboration with oncologists and hematologists throughout Denmark. MPI has ownership of Oncology Venture (Publ) a spinout with three anti-cancer drugs in pipeline entered and of the privately hold Special Purpose Vehicles, 2X Oncology Inc. and OV-SPV2 Aps with four products in pipeline.
This information is information that Medical Prognosis Institute A/S 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 July 5th, 2017.
Certified Adviser: Sedermera Fondkommission, Norra Vallgatan 64, 211 22, Malmö, Sweden