Hoersholm, Denmark, April 19, 2018 - Medical Prognosis Institute A/S ("MPI") today announces that, as a consequence of an exercise of 340,000 warrants, the share capital in the company will increase by nominal DKK 17.000,00 and the number of shares will increase by 340,000. 300,000 warrants are exercise by MPI's CEO Peter Buhl Jensen. The exercise was requested April 3, 2018 approved by the Board of Directors today. The remaining 40,000 warrants have been exercised by other current and former employees of the company. The dilution for existing shareholders will be approximately 1.4 %.
The increase has been executed without any pre-emption rights for the existing shareholders of the company or others. The shares are subscribed in cash at a price of DKK 0.52 per share, of nominally DKK 0.05. Proceeds to the company are DKK 176,800. The new shares are ordinary shares without any special rights and are freely transferable and negotiable instruments. The new shares shall give rights to dividends and other rights in relation to the company as of subscription, i.e. inter alia full rights to dividends. MPI's current share capital amounts to DKK 1,215,377.75 and will after registration of the capital increase be DKK 1,232,377.75. The current number of shares in the company is 24,307,555 and will after the registration of the capital increase be 24,647,555. After registration of the capital increase, the remaining number of warrants in the company will be 3,349,040. The capital increase is expected to be registered shortly.
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Medical Prognosis is a publicly traded international company specialized in improving cancer patients lives by developing Personalized Medicine using its unique DRP® 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® 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 1,400 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.
About the DRP
Oncology Venture uses the Medical Prognosis Institute (MPI) multi gene DRP® technology to select those patients that, by the genetic signature in their cancer, is found to have a high likelihood of response to a given drug. The goal is to develop the drug for the right patients by screening patients before treatment, whereby the response rate can be significantly increased. The DRP® method builds on the comparison of sensitive vs. 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® is based on messenger RNA from the patients' biopsies. The DRP® platform (i.e. the DRP® and the PRP(TM) biomarkers) can be used in all cancer types and is patented for more than 70 anti-cancer drugs in the US. The PRP(TM) is commercialized by MPI for Personalized Medicine. The DRP® is commercialized by Oncology Venture for drug development.
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 April 19, 2018.
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