Saniona Spin-Out, Scandion Oncology Raises DKK 2 Million and Prepares for a Potential Public Listing

Saniona, a leading biotech company in the field of ion channels, today announced that its spin-out company, Scandion Oncology, has raised DKK 2 million in a private placement. Scandion intends to use the proceeds to develop its lead compound, SCO-101, for the treatment of chemotherapy resistant cancer and to mature the company for a potential public listing.

Scandion Oncology raised DKK 2 million from a group of investors including member of the management and board of directors. The company expects to raise additional financing during spring 2018 either through an additional private placement or a public listing. Saniona owns 47.3% of Scandion Oncology following this initial financing round. The founders, management and the other shareholders of Scandion Oncology are independent of Saniona’s board, management and major shareholders of Saniona.

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Co-funded by the Horizon 2020 programme of the European Union
Co-funded by the COSME programme of the European Union