Scandion Oncology A/S (“Scandion Oncology” or “the Company”) today announces that the Chairman and Vice Chairman of the Company buy shares in Scandion Oncology. The shares come from a prior transaction where the CEO and CSO of Scandion Oncology bought shares from the former CEO. Below is a detailed description of the transactions being conducted. All transactions are intended to be done outside the market.
Chairman of the Board Peter Høngaard Andersen and Vice Chairman of the Board Jørgen Bardenfleth acquire shares from CEO Nils Brünner and CSO Jan Stenvang
Chairman of the Board Peter Høngaard Andersen and Vice Chairman of the Board Jørgen Bardenfleth have announced interest in acquiring additional shares in Scandion Oncology. As a result, Peter Høngaard Andersen will acquire shares in Scandion Oncology from Nils Brünner at a value of 75.000 DKK and acquire shares in Scandion Oncology from Jan Stenvang at a value of 75.000 DKK. Jørgen Bardenfleth will acquired shares in Scandion Oncology from Nils Brünner at a value of 125.000 DKK and acquire shares in Scandion Oncology from Jan Stenvang at a value of 125.000 DKK. Transactions will be carried out with regard to value creation incentives for the shareholders of Scandion Oncology for a long-term committed board and with the current lock-up-period attached. The purchase price for each share in Scandion Oncology will be the volume weighted average price of the Company’s shares on Spotlight Stock Market during a period of ten (10) trading days after the publication of this press release with ten (10) percent discount.
For further information regarding Scandion Oncology, please contact:
Nils Brünner, CEO
Phone: +45 26 14 47 08
This information is information that Scandion Oncology is obliged to publish in accordance to the EU Market Abuse Regulation. The information was provided by the contact person above for publication on November 29, 2019.
Scandion Oncology A/S is a biotechnology company founded in 2017 for the purpose of addressing and tackling one of the greatest challenges in modern oncology – the effective treatment of cancer which contains drug resistant cells or which has developed resistance to a previously prescribed cancer-fighting drug. In preclinical in vitro-studies SCO-101 restores chemotherapy sensitivity in resistant cancer cells. Moreover, in animal studies, the company’s leading candidate drug, SCO-101, significantly enhances the efficacy of certain standard cancer treatments when given in combination. Scandion Oncology is now ready to initiate clinical phase II trials with its lead compound, SCO-101 in patients with drug resistant cancer. Scandion Oncology was listed on Spotlight Stock Market, Sweden in November 2018.