Scandion Oncology (Scandion), an innovative drug efflux pump inhibition company using biomodulation capabilities to revert drug resistance, today announced that the top priority following the very encouraging part 3 CORIST data is business development and partnering activities. As part of these efforts, Scandion is working together with Back Bay Life Science Advisors LLC, a prominent life sciences investment banking firm, to explore and evaluate actionable strategic and financial alternatives.
This decision reflects the company’s commitment to both the ongoing development of SCO-101 and maximizing shareholder value. Strategic alternatives include partnerships, divesting certain assets, and exploring a potential sale of the company.
“The clinical data generated by Scandion’s SCO-101 throughout CORIST 1 to 3 certainly demonstrate the potential of the molecule to significantly reduce chemotherapy drug resistance due to its unique mechanism of action,” said Francois Martelet, CEO of Scandion Oncology. “While focusing on business development and partnering activities we will work with our clinical advisors on the best step forward to ensure SCO-101 reaches its potential in the light of current standard of care.”
For further information please contact:
Johnny Stilou, CFO
Phone: +45 2960 3532
E-mail: jos@scandiononcology.com
The information was provided by the contact person above for publication on August 19, 2024, at 07.00 CET.
About Scandion Oncology
Scandion Oncology (Scandion) is a clinical-stage biotech company using an innovative drug efflux pump inhibition technique with biomodulation capabilities on ABCG2 and UGT1A1 targets to revert drug resistance.
Drug resistance remains a massive problem in cancer treatment and in the development of new medicines. Scandion’s lead compound SCO-101 is currently studying metastatic colorectal cancer (mCRC) in its Phase 2 CORIST trial, while the PANTAX Phase 1 program is developing SCO-101 for pancreatic cancer.
Scandion is based in Copenhagen and is listed on Nasdaq First North Growth Market Sweden (ticker: SCOL). Västra Hamnen Corporate Finance is the Company's certified advisor on Nasdaq First North Growth Market.