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Oncology Venture: Status up-date and planned rights issue
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Oncology Venture: Oncology Venture incorporates 2X Oncology Inc., a Women's Cancer Company in the US
Oncology Venture: Status up-date and planned rights issue Hoersholm, Denmark September 20th 2018 — Oncology Venture Sweden AB:s OV:ST daughter company Oncology Venture ApS announces the entering of a co-development agreement with Cadila Pharmaceuticals Ltd. The aim is to evaluate the LiPlaCis efficacy in several different indications and perform a randomized phase 3 trial as corner stone and part of the data package study for marketing approval by the FDA, EMA, CDSCO Central Drugs Standard Control Organization of India. Cadila will invest in kind in research and development activities regarding 310 cancer patients and DRP screening of more than 1400 patients. Cadila will perform four 4 clinical Phase 2 trials and a pivotal randomized clinical Phase 3 trial during a period of three years. In the consortium of owners now including Cadila Pharmaceuticals, LiPlasome, MPI and Oncology Venture - Oncology Venture owns 29% of the total value of the LiPlaCis project after Phase 3. Further information about the development with Cadila is presented in a separate press release. Oncology Venture has also identified a fourth drug candidate - an oral tyrosine kinase inhibitor that has proven effect and where tumor tissue is available from clinical phase 3 trials for DRP testing before entering into full agreement. OV is negotiating with an undisclosed Big Pharma, who has the full rights to the project. Oncology Venture is as a consequence of the above mentioned new projects seeking new capital why the Company plans a rights issue of approximately 22 MSEK with a relatively low rebate in the near future. A number of parties, among which there are major shareholders, have through subscription rights signed up for 55% of the volume of the emission. Information about the planed rights issue will be communicated in the near future. We now have the opportunity — in a focused way — to move the Company to next level why Oncology Venture seeks new capital. In-licensing of the fourth drug candidate in OV accelerates the pace and the number of shots of goals the likelihood of success considerably and the development deal with Cadila Pharmaceuticals means that we can take a big step ahead with LiPlaCis®. If we can also initiate the work with the products in 2X Oncology Inc. Goals and prioritized activities At the time of going public in July 2018, it was stated the over-all goal amongst others was to in-license 5 drugs and with these drugs perform 5 focused Phase 2 studies in a three-year period. In addition, the goal is within a three-year period to generate at least two drug candidates for out-licensing or sale. The Company has capital from the need spin id number from the time of the listing in 2018 to run focused clinical phase 2 trials for APO010 and Irofulven. The LiPlaCis-program has moved from the dose escalation part to an extension phase of blackjack hit me proof-of-concept-study. Through the capital raise at the time of the rights issue during spring 2018 it is possible to need spin id number a high pace of development of LiPlaCis®. Planed Rights Issue Oncology Venture is focused on development of anticancer drugs in combination with its Drug Response Predictor — DRP — and has now the possibility to increase the pace of the company and as a consequence of this seeks capital. To raise capital, the Company plans to do a rights issue of approximately 22 MSEK with a relatively low rebate. A need spin id number of parties, amongst these some of the major shareholders have through subscription rights ensured 55 % of the volume issued. More information about he planned right issue will be communicated in the near future. In accordance with the agreement Cadila Pharmaceuticals will finance and conduct studies with a total of 310 cancer patients including those who have the highest likelihood of success with the LiPlaCis® treatment. The drug development is planned as follows: 1. Cadila has commercialization rights in India, Russia, Africa and South East Asia ASEAN countries onlyOncology Venture has the commercialization rights to America, Europe and China and RoW. Oncology Venture will be responsible for the manufacturing and pay for manufacturing of the product. Estimated costs for product in 2018-2018 need spin id number 0,6 MUSD. In the consortium of owners now including Cadila Pharmaceuticals, LiPlasome, Need spin id number and Oncology Venture - Oncology Venture click the following article 29% of the total value of the LiPlaCis project after Phase 3. When developed parties may choose to market themselves in their own territories or out license or sell to a third party. An oral Tyrosine Kinase Inhibitor-project A fourth OV product — an oral Tyrosine Kinase Inhibitor TKI — has been identified and terms are under negotiation with a non-disclosed Big Pharma company who owns all rights to the drug. The product has been tested in Phase 2 and Phase 3 studies and biopsies are available. Oncology Venture has the possibility to run a quick proof-of-concept DRP test on the biopsies to see if Oncology Venture can identify responders from the clinical trials why this — according to the board — is a de-risked and unique investment case. The test can be run in two months. Oncology Venture has the opportunity to need spin id number rights to DRP-test the biopsies for 500,000 USD and the Company has an investor who intends to invest in the rights from the drug owner, a Big Pharma Company. If this proof of concept testing falls out positively it is likely that the drug will be spun out in a Special Purpose Vehicle SPVin which Oncology Ventures investors and institutional investors will need spin id number offered to invest. Special Purpose Vehicle SPV — gives the opportunity to increase the product pipeline The Company has incorporated an oncology product spin-out, 2X Oncology Inc. The company focusses on precision medicine for cancer indications specific for women with the aim to develop promising cancer drugs in clinical phase by the use of the DRP-tool. The initial therapeutic focus will be directed towards unmet medical needs in breast and ovarian cancer. Oncology Venture has identified three products for which the company planes to secure rights for 2X Oncology Inc. The plan is to test the products in proof-of-concept-studies in Scandinavia with the need spin id number of the Drug Response Prediction tool and thereafter move the most promising candidate to a randomized possibly pivotal Phase 2-study in the US. The information was submitted for publication, through the agency of the contact person set out above, on September 20th 2018. About Oncology Venture Sweden AB Oncology Venture Sweden AB is engaged in the research and development of anti-cancer drugs via its wholly owned Danish subsidiary Oncology Venture ApS. The Company uses a model that alters the odds in comparison with traditional pharmaceutical development. Via a more well-defined patient group, the risk and costs are reduced while the development process becomes more efficient. The current product portfolio: LiPlaCis for Breast Cancer, Irofulven developed from a fungus for prostate cancer and APO010 — an immuno-oncology product for Multiple Myeloma. För att prenumerera på nyheter på detta bolag, klicka.