Oncology Venture A/S establish a flexible loan facility of up to SEK 40 million

2018-08-31

Oncology Venture A/S ("Oncology Venture", formerly Medical Prognosis Institute A/S) hereby announces that the company has entered into a flexible loan agreement with Trention AB. Under the terms of the agreement, Trention has committed to provide up to SEK 40 million in cash to Oncology Venture A/S. The activation of the loan is solely on the discretion of Oncology Venture A/S. The estimated net costs for Oncology Venture A/S during the period of the facility is 2-3% of the full loan facility excluding legal and administrative costs. If not agreed otherwise the loan will be due by August 2019.

The financing is provided by Trention AB, a public Swedish company, which specializes in financing solutions tailored to the requirements of small and mid-sized growth companies. The loan agreement has been established with the aim to secure and continue the progress of Oncology Venture A/S's promising pipeline following the recent merger. No collateral is attached to the loan facility.

"This loan provides the merged company Oncology Venture A/S with additional financial flexibility, a key success factor. The loan agreement not only offers significant flexibility for Oncology Venture A/S, but costs are also comparable to market conditions and limits the dilution to our current shareholders. As part of the agreement Oncology Venture A/S will be introduced to high net worth individuals and family offices in the Nordic region," stated Peter Buhl Jensen, CEO of Oncology Venture A/S.

Please note that Oncology Venture Sweden AB and Oncology Venture A/S (previously Medical Prognosis Institute A/S) have merged into Oncology Venture A/S. The merged share will be traded on Nasdaq First North in Stockholm as of 3rd September 2018.

For more information on the merger please visit.

For further information, please contact:
CEO, Peter Buhl Jensen, MD, Ph.D.                                                                           Ulla Hald Buhl, IR & Communication
E-mail: pbj@oncologyventure.com                                                                              E-mail: uhb@oncologyventure.com
Telephone: +45 21 60 89 22                                                                                        Telephone +45 21 70 10 49

About Oncology Venture A/S
Oncology Venture A/S is engaged in the research and development of anti-cancer drugs via its wholly-owned subsidiary, Oncology Venture ApS. Oncology Venture uses Drug Response Prediction - DRP® -to significantly increase the probability of success in clinical trials. DRP® has proven its ability to provide a statistically significant prediction of the clinical outcome from drug treatment in cancer patients in 29 out of 37 clinical studies that were examined and is currently demonstrating promising results in an ongoing phase 2 study of LiPlaCis in metastatic breast cancer. The Company uses a model that alters the odds in comparison with traditional pharmaceutical development. Instead of treating all patients with a particular type of cancer, patients' tumors genes are first screened, and only the patients most likely to respond to the treatment will be treated. Via a more well-defined patient group, risks and costs are reduced while the development process becomes more efficient. 

The current product portfolio includes: LiPlaCis® a liposomal formulation of cisplatin in ongoing phase 2 for breast cancer; 2X-121 a PARP Inhibitor in ongoing phase 2  for breast cancer, dovitinib to be initiated  for breast cancer, 2X-111 phase 2 a liposomal formulation of doxorubicin under manufacturing for phase 2 in breast cancer,  irofulven phase 2 to be initiated for prostate cancer; and APO010, an immuno-oncology product in phase 1/2 for multiple myeloma. 

Oncology Venture has spun out two companies as Special Purpose Vehicles: Oncology Venture U.S. Inc. (previously 2X Oncology Inc.), a US-based precision medicine company, focusing on developing 2X-121 and 2X-111, and OV-SPV 2, a Danish company that will test and develop dovitinib. 

Please note that Oncology Venture Sweden AB and Oncology Venture A/S (previously Medical Prognosis Institute A/S) have merged into Oncology Venture A/S. The merged share will be traded on Nasdaq First North in Stockholm as of 3rd September 2018.

For more information on the merger please visit.

Certified Adviser: Sedermera Fondkommission, Norra Vallgatan 64, 211 22, Malmö, Sweden

This information is information that Oncology Venture A/S is obliged to make public pursuant to the EU Market Abuse Regulation (MAR). The information was submitted for publication on August 31, 2018.