Oncoinvent closes $ 25 Million Private Placement

Our portfolio company Oncoinvent announced today the closing of a 210 MNOK (approx. 25 MUSD) private placement of ordinary shares. Financing will support development of Radspherin™, a novel radiotherapeutic treatment for peritoneal carcinomatosis.

Large privately owned investment companies joining the Company as new investors include Geveran Trading Co. Ltd., Canica AS, CGS Holding AS, Helene Sundt AS and Must Invest AS. Oncoinvent AS is developing therapeutics to combat various cancers based on delivery of tumour-cell killing doses of radiation and/or immunotargeting of tumor cells.

“We are pleased at the response that we have received from the investment community regarding our private placement. The round was heavily oversubscribed. With this financing round we now have, in addition to the new funding, a shareholder base in the company that will enable Oncoinvent to bring Radspherin™ to a clinical proof of concept.” said Jan A. Alfheim, Oncoinvent’s CEO.

About Radspherin™
Radspherin™ is a novel alpha-emitting radioactive microsphere designed for treatment of metastatic cancers in body cavities. The radium based therapeutic, Radspherin™ has shown strong and consistent anticancer activity without any visible signs of product related toxicity in preclinical studies. It is anticipated that the product can potentially treat several forms of metastatic cancer.

The first clinical indication for Radspherin™ will be treatment of peritoneal carcinomatosis originating from ovarian cancer. Peritoneal carcinomatosis is one of the most serious complications of gastrointestinal and gynecological malignancies.

About Oncoinvent
Oncoinvent AS is a privately held Norwegian company based in Oslo, Norway. The company is committed to developing new innovative products in order to provide better treatment options to cancer patients.

The company’s founders started Oncoinvent in 2010 with a view to designing better cancer treatments by applying known physical and chemical principles of selected novel materials in new ways in order to maximize their medical benefit while minimizing potential safety concerns. This approach has allowed the company to develop a rich development pipeline and to explore multiple technological avenues before selecting a lead product candidate for preclinical testing.



The PCI Biotech and Ultimovacs collaboration awarded NOK 500,000 from Innovation Norway

The PCI Biotech and Ultimovacs collaboration awarded NOK 500,000 from Innovation Norway

Oslo (Norway), 6 January 2017 – PCI Biotech (OSE: PCIB), a cancer focused biopharmaceutical company, and Ultimovacs, a pharmaceutical company developing novel immunotherapy against cancer, today announced that they are awarded NOK 500,000 for further development of the existing preclinical research collaboration. The purpose of the collaboration is to utilise the companies’ complementary scientific platforms to explore potential synergies and the grant will support these activities. The Innovation Norway grant of NOK 500,000 is awarded for 2017 and the grant is made available through Oslo Cancer Cluster a Norwegian Centre of Expertise.

Please see attached press release for further details.

Contact information:
PCI Biotech Holding ASA, Ullernchausséen 64, N-0379 Oslo, Norway. www.pcibiotech.com
Per Walday, CEO, pw@pcibiotech.no, Mobile: +47 917 93 429.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


Targeted drug delivery platform company Phoenix Solutions AS completes its Series A financing

The Board of Directors of Phoenix Solutions is pleased to announce that the company has completed a series A financing led by a small group of healthcare angel investors. CEO Per Sontum, -We are very pleased to announce this first round of financing. This funding will give us the ability to reach a key developmental milestone for our preclinical work in pancreatic cancer.

Phoenix Solutions is a Norwegian bio-tech company sprung out from GE Healthcare in 2013, currently developing a technology platform for targeted drug delivery – Acoustic Cluster Therapy (ACT®). ACT® is a unique approach to ultrasound mediated, targeted drug delivery – capable of enhancing significantly the clinical utility of a wide range of therapeutic molecules and nano-drugs for a wide range of clinical indications. Its primary mode of action is in defeating the vascular barrier, enhancing extravasation, distribution and uptake of drug in the targeted tissue, thereby increasing efficacy and/or reducing toxicity. ACT® is generally indicated towards diseases where current clinical practice treats known, localized pathologies (e.g. solid tumours) with medicinal therapy, and where Standard of Care is being limited from an inability to deliver sufficiently high concentrations of drug to the tumour without excessive systemic toxicity. Phoenix is currently targeting the oncology segment, looking in particular at pancreatic, liver, triple negative breast and prostate cancers, and have had extremely promising preclinical results so far.


For further information, please contact: Per Christian Sontum, CEO of Phoenix Solutions AS

E-mail: Per.Sontum@phoenixsolutions.no

Mobile: +47 47261042

Vaccibody raised MNOK 220

Oslo Cancer Cluster member Vaccibody succesfully raised NOK 220 million (€ 24 million). The Private Placement was significantly oversubscribed by both existing shareholders and new investors.

The net proceeds from the Private Placement will be used to conduct Vaccibody’s early stage clinical development plan for personalized cancer neoantigen vaccines (two phase I/Ib trials) and for general corporate purposes.

Martin Bonde, CEO of Vaccibody, said: “We are grateful for the confidence in, and commitment to, the Company from our new investors as well as our existing investors. With the investment we will be able to pursue our ambition of making an entirely novel therapy available. In collaboration with expert clinicians we will work to initiate clinical trials with our to cancer neoantigen vaccines to show benefit in patients suffering from advanced and severe cancer”.



Nordic Nanovector raised 500 MNOK

Nordic Nanovector  has raised MNOK 500 in gross proceeds through a private placement of 4,374,244 new shares. 


Nordic Nanovector intends to use the net proceeds to:

– To fund a Phase 2 combination study of Betalutin® and Rituximab CD20
– To fund a Phase 1 study and GMP manufacturing for 177Lu-conjugated chimeric antibody (anti-CD37 ARC)
– Develop new proprietary antibody production technology
–  Accelerate pipeline of pre-clinical assets to clinical trials
–  Prepare for commercial launch of Betalutin®
–  General corporate purposes
The Private Placement and the issuance of the new shares was resolved by the Company’s Board of Directors (the “Board”) at a board meeting held on 6 December 2016, based on the authorisation granted to the Board at the Company’s annual general meeting on 19 May 2016. Notification of allotment in the Private Placement and payment instructions will be sent to the applicants today through a notification from the Joint Bookrunners. The new shares will be settled delivery versus payment on 9 December 2016 (regular T+2 settlement), by delivery of existing and unencumbered shares in the Company that are already listed on the Oslo Stock Exchange pursuant to a share lending agreement between DNB Markets (on behalf of the Joint Bookrunners) and HealthCap VI L.P. The new shares delivered to the subscribers will thus be tradable from allocation.

Following registration of the new share capital pertaining to the Private Placement in the Norwegian Register of Business Enterprises, expected to take place on or about 13 December 2016, the Company will have an issued share capital of NOK 9,794,924, divided into 48,974,618 shares, each with a par value of NOK 0.20.

The Board has assessed the Private Placement in light of the equal treatment requirement, balanced the considerations that speak for and against carrying out the Private Placement and concluded that the waiver of the preferential rights inherent in a private placement was considered necessary in the interest of time and successful completion in the common interest of the Company and its shareholders.

The Company’s latest investor presentation is available here.



About Nordic Nanovector:

Nordic Nanovector is a biotech company focusing on the development and commercialisation of novel targeted therapeutics in haematology and oncology. The Company’s lead clinical-stage product opportunity is Betalutin®, the first in a new class of Antibody-Radionuclide-Conjugates (ARC) designed to improve upon and complement current options for the treatment of non-Hodgkin Lymphoma (NHL). NHL is an indication with substantial unmet medical need and orphan drug opportunities, representing a growing market worth over $12 billion by 2018.

Betalutin® comprises a tumour-seeking anti-CD37 antibody, lilotomab, conjugated to a low intensity radionuclide (lutetium-177). The preliminary data has shown promising efficacy and safety profile in an ongoing Phase 1/2 study in a difficult-to-treat NHL patient population. The Company is aiming at developing Betalutin® for the treatment of major types of NHL with first regulatory submission anticipated in 1H 2019.

Nordic Nanovector intends to retain marketing rights and to actively participate in the commercialisation of Betalutin® in core markets, while exploring potential distribution agreements in selected geographies. The Company is committed to developing its pipeline of innovative targeted immunoconjugate therapies for multiple selected cancer indications.

Further information about the Company can be found at www.nordicnanovector.com

This information is subject to the disclose requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


New NRC grant: 45 MNOK to value creation in health care industry

The Research Council is planning to announce up to NOK 45 million in funding for projects that promote value creation in the healthcare industry. The call for proposals targets consortia comprised of companies and cooperating R&D groups and concerns new production technology within diverse areas such as pharmaceutical industry, diagnostics or medical technology.

Read the news story here (in Norwegian only).

The call is organised in two phases, where applicants first apply for funds to support mandatory feasibility studies. These are amongst other things intended to stimulate cooperation between parties with common needs.  The application deadline for feasibility studies is 23. November 2016. Find the call “NOK 5 million for feasibility studies of projects targeting production technology for the healthcare industry” here.

The Research Council is organising an applicant’s workshop on 24. October from 10:00-13:00, register here.

DNB Nordic Healthcare Conference

For syvende gang arrangeres DNB Nordic Healthcare Conference. Konferansen vil finne sted i DNBs hovedkontor i Bjørvika, Oslo. Konferansen er inndelt i tre deler; Listed session, Venture Session og DNB Healthcare Prize.

I år har vi opprettet en nettside som presenterer konferansen og de ulike sesjonene.

På nettsiden finner dere link informasjon.

Siden vil fortløpende bli oppdatert med aktuell informasjon.

Registrering til konferansen vil åpne i oktober.

NB! Vi har imidlertid åpnet for påmelding til DNB Healthcare Prize og Venture Session.

Det er det samme søknadsskjemaet som benyttes både for DNB Healthcare Prize og Venture Session, men søkerne må tydelig markere om de ønsker å søke på DNB Healthcare Prize, Venture Session eller begge deler.


DNB Healthcare Prize

Vi er stolte over at vi andre år på rad kan lyse ut en Healthcarepris som er rettet mot selskaper i tidlig fase.

Prisen er på 1 mill NOK

Søknadsfrist er 26. oktober.

Finale og utdeling av prisen er på DNB Nordic Healthcare Conference 2016 15. desember.

Konkurransen vil bli markedsført i Dagens Næringsliv, og innrykksdatoene er 29. september og 13. oktober.

Vedlagt finner dere annonsen.


Venture Session

Under DNB Healthcare Conference 2016, vil 20 bedrifter i oppstartsfasen få mulighet til å presentere sitt selskap for profesjonelle investorer. Dette er en unik mulighet for selskapene, som også vil få mulighet til å møte investorene 1:1 denne dagen.

Søknadsfrist er 26. oktober.

Ved spørsmål kan søkerne kontakte kontaktpersonene som er oppgitt på nettsidene for henholdsvis DNB Healthcare Prize og Venture Session.

Det er viktig og svært ønskelig at dere informerer deres medlemmer om dette så snart som mulig.


Innovasjonsrammen 2016

Det overordnede målet med Innovasjonsrammen 2016 er å stimulere til økt innovasjon gjennom flere felles innovasjons- og forskningsprosjekter mellom bedrifter.

Midlene skal brukes til mobilisering av utviklingsprosjekter og til idé- og prosjektutvikling (konseptualisering). Innovasjonsrammen 2016 skal bidra til at samarbeidsprosjektene kommer i posisjon til å få finansiering gjennom Forskningsrådets og Innovasjon Norges ordinære ordninger eller fra private investorer.

Oslo Cancer Cluster har fått tildelt en rammebevilgning på en million kroner, som kan trekkes på etter saksbehandling og innvilgning fra Innovasjon Norge. Klyngen forestår selv prioriteringer av egne prosjekter innenfor rammen ved at daglig leder eller en med mandat fra daglig leder anbefaler søknaden på vegne av klyngen. Prioriteringene skal være gjort i samråd med klyngens styre.

Prosjektene må innfri kravene for støtte til eksperimentell utvikling (FoUI) i statsstøtteregelverket. Et av kravene er at støtten kun kan gis til èn bedrift eller ett kompetansesenter. Søker kan imidlertid få dekket kostnader ved kjøp av tjenester fra partnere i samarbeidsprosjektet.

Innovasjonsrammen stiller krav til at midlene kun benyttes til samarbeidsprosjekter der minimum to virksomheter inngår (merk; minst en av bedriftene må være partner eller medlem i klyngen).

Tilskudd fra Innovasjonsrammen 2016 gis i tråd med regelverket for støtte til eksperimentell utvikling (FoUI-støtte) i statsstøtteregelverket. Støtten skal gis på områdene mobilisering og konseptualisering. Regelverket åpner for 25-45% støtte avhengig av bedriftenes størrelse samt 15% i samarbeidsbonus.

Interesserte bedrifter i Oslo Cancer Cluster bes ta kontakt med bk@occincubator.com for mer informasjon og søknadsskjema. Søknadene vil vurderes av et ekspertpanel, og innleveringsfristen for søknaden er 7.september.

På vegne av Oslo Cancer Cluster

Bjørn Klem

Nye midler til stimulering av helseforskning i EU

Helseforskere kan få støtte til deltagelse i Horisont 2020 søknader fra to nye utlysninger:


Den ene ordningen gir støtte til nasjonalt samarbeid  innenfor særlig strategisk viktige områder. Samarbeidet skal være mellom aktører på tvers av institusjoner, miljøer, disipliner, fagområder og/eller sektorer, og skal munne ut i en eller flere søknader til Horisont 2020.


Den andre ordningen skal støtte deltagere i EU-søknader med helsetema, som havnet på kommisjonens reserveliste i å søke på nytt.


Les mer om HELSE-EU ordningene her