Large Oslo Cancer Cluster delegation to BIO2015

More than 15 Oslo Cancer Cluster members will be present at BIO2015 in Philadelphia in June. BIO is the world´s largest biotech fair and a very important partnering event for the cluster.

The companies attending BIO from the cluster are: BerGenBio, Lifandis, Lytix Biopharma, Nextera, Nordic Nanovector, Normetrix, Pharmalink Oncology, Inven2, BTO, Targovax, Ultimovacs, Vaccibody, The Radium Hospital Research Foundation, Chiltern and DNB Healthcare.

International Advisor Jutta Heix will represent Oslo Cancer Cluster Managment Team.

International Cancer Cluster Showcase
Oslo Cancer Cluster will also this year arrange International Cancer Cluster Showcase at BIO, together with other world-leading cancer clusters.  New partners are OBN, UK with a strong international investor network and the Wistar Institute from Philadelphia as local partner.

Member companies pitching at the International Cancer Cluster Showcase are Inven2, Ultimovacs and Nordic Nanovector.

Inven2, Norway´s largest TTO, will pitch their portfolio of early projects which is really strong in immuno-oncology, Ultimovacs will present the clinical development of their universal cancer vaccine, whilst Nordic Nanovector will present the clinical development of their targeted radiopharmaceutical treatment of lymphoma. Nordic Nanovector went public this March with one of the biggest IPO´s in European biotech so far this year.

We are very proud to have two Oslo Cancer Cluster members sponsoring the International Cancer Cluster Showcase this year: Chiltern and DNB Healthcare.

DNB Healthcare is also hosting a special healthcare event in New York on June 12 prior to BIO.

 

Ultimovacs, Inven2 and Nordic Nanovector will present at ICCS

Oslo Cancer Cluster will for the 4th time arrange International Cancer Cluster Showcase, ICCS in collaboration with leading cluster partners from Europe and North America. 20 oncology biotechs will pitch their latest innovations and partnering opportunities.

Member companies pitching at ICCS are Inven2, Ultimovacs and Nordic Nanovector:

  • Ultimovacs will present the clinical development of their universal cancer vaccine
  • Inven2, Norway´s largest TTO, will pitch highlights from their portfolio which is particularly strong in immuno-oncology
  • Nordic Nanovector will present their lead clinical-stage product opportunity Betalutin™, the first in a new class of Antibody-Radionuclide-Conjugates (ARCs).Nordic Nanovector went public this March with one of the biggest IPO´s in European biotech so far this year.

Below you may find some more information on this years edition of ICCS and BIO2015.

International Cancer Cluster Showcase 2015, June 15th, 2015 – Philadelphia Convention Center

General BIO Info:

  • BIO 2015 takes place in Philadelphia. From what we hear the hotels are filling up, so be sure to book your housing soon if you are attending
  • Oslo Cancer Cluster will not feature a booth this year, but International Advisor Jutta Heix will be present at BIO and participate in partnering meetings

 

 

PCI Biotech starts collaboration in siRNA therapeutics

PCI Biotech, a Norwegian cancer focused biopharmaceutical company, announced that it is initiating a pre-clinical research collaboration with RXi Pharmaceuticals (NASDAQ: RXII). RXi is an American biotechnology company focused on discovering and developing innovative therapeutics, that address high-unmet medical needs primarily in the area of dermatology and ophthalmology.

The partnership is governed by a pre-clinical research collaboration agreement. Initially, the purpose of the pre-clinical research collaboration is to utilize the companies’ complementary scientific platforms to explore potential synergies.

In brief the pre-clinical research collaboration will evaluate technology compatibility based on in vitro and in vivo studies. The costs related to the research collaboration will be covered by each company separately. The companies will evaluate results achieved from this research collaboration and then explore the potential for a closer collaboration.

Both companies will retain exclusive ownership rights to existing registered intellectual property. However, any inventions arising from the collaboration will be jointly owned by the companies.

 

About PCI Biotech
PCI Biotech is a cancer focused biopharmaceutical company headquartered in Norway and listed on the Oslo Stock Exchange (Axess). The company is developing therapeutic products based on its proprietary photochemical internalization (PCI) technology. Originating from world leading research at the Norwegian Radium Hospital, the PCI technology works by inducing triggered endosomal release and may be used to unlock the true therapeutic potential of a wide array of modalities, such as small molecules, ADCs and siRNA. Two programs are currently in clinical development in patient populations with a high unmet medical need; recurrent head and neck cancer (phase II) and bile duct cancer (phase I/II).

The company is also developing PCI as a CTL induction technology for therapeutic and prophylactic vaccination. It has been demonstrated both in vivo and ex vivo that PCI significantly increases the number of activated antigen-specific CTLs (Cytotoxic T Lymphocytes) by enhancing the MHC I antigen presentation of antigen presenting cells. When applied more specifically to the emerging field of cancer immunotherapy, PCI can be used to enhance the important cytotoxic effect of therapeutic cancer vaccines. PCI Biotech follows a strategy to create value by improving the effect both of existing cancer drugs and by realizing the large potential in new therapeutics, including therapeutic vaccines.

www.pcibiotech.com

Nordic Nanovector raised MNOK 500

Oslo, 20 March 2015. Nordic Nanovector ASA (“Nordic Nanovector”, the “Company”, OSE ticker code: “NANO”) announces the successful completion of the bookbuilding period for its initial public offering (the “Offering”), which was multiple times oversubscribed for the full amount of the Offering (including over-allotment) throughout the narrowed indicative price range.

In summary:
• Nordic Nanovector will issue 15,625,000 new shares in connection with the Offering, raising gross proceeds of NOK 500 million. There will in total be 42,175,291 shares in issue following the issuance of the new shares.
• The Managers (as defined below) have over-allotted 2,343,750 shares, representing 15% of the number of shares issued and sold in the Offering before over-allotments, and exercised their option to borrow an equal number of shares from HealthCap VI L.P. for the purpose of covering such over-allotments.

• The shares are priced at NOK 32 per share. The price implies a market capitalisation of Nordic Nanovector of approximately NOK 1,350 million (excluding shares that may be issued in connection with the over-allotment).

• Trading of the shares in Nordic Nanovector on the Oslo Stock Exchange will commence on 23 March 2015.

Approximately 91% of the shares in the Offering have been allocated to investors in the institutional offering and approximately 9% of the shares have been allocated to investors in the retail offering. Following the Offering, Nordic Nanovector is expected to have approximately 1,200 shareholders.

Luigi Costa, CEO of Nordic Nanovector, said: “We are delighted with the positive support Nordic Nanovector and its team has received by domestic and international investors. This has enabled us to upsize our IPO and raise additional funds to advance the development of Betalutin™, our first-in-class Antibody-Radionuclide-Conjugate, beyond the first regulatory submission planned in 2017”.

Luigi Costa continued: “Betalutin™ is specifically designed to deliver better treatment outcomes for patients with non-Hodgkin lymphoma by improving and complementing current therapy options. Betalutin™ targets CD37, a different antigen compared to standard CD20-targeted therapies with a short-range radiotherapy effecting tumour cell death while minimizing exposure to healthy cells. Based on this mechanism of action and promising clinical results to date, we have designed a robust development plan through to commercialisation.”

Notifications of allocated shares and the corresponding amount to be paid by investors are expected to be communicated to investors today (20 March 2015). Investors having access to investor services through their VPS account manager will be able to check the number of shares allocated to them from approximately 09:00 hours (CET) on 20 March 2015. The Managers may also be contacted for information regarding allocations.

The Company has granted the Managers an over-allotment option, exercisable by ABG Sundal Collier as stabilisation manager within 30 days from the first day of listing to cover over-allotments and short positions in connection with the Offering. A separate disclosure will be issued by the stabilisation manager regarding the over-allotment and stabilisation activities.
ABG Sundal Collier and DNB Markets, a part of DNB Bank ASA, are acting as Joint Global Coordinators for the Offering and ABG Sundal Collier, Carnegie and DNB Markets are acting as Joint Bookrunners for the Offering. The Joint Global Coordinators and Joint Bookrunners are herein referred to as the “Managers”.

 

About Nordic Nanovector

Nordic Nanovector is a biotech company focusing on the development and commercialization 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-Radio-Conjugates (ARCs), designed to improve upon and complement current options for the treatment of Non-Hodgkin’s 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 tumor-seeking anti-CD37 antibody conjugated to low intensity radionuclide (Lutetium 177). It has shown promising efficacy in Phase 1 studies in a difficult-to-treat NHL patient population and as well as a very favourable tolerability. Betalutin™ is fast advancing through clinical development and with first approval anticipated in 2018.
Nordic Nanovector intends to retain marketing rights and to actively participate in the commercialization of Betalutin™ in core markets, while exploring potential distribution agreements in selected geographies. The Company is committed to developing its ARC pipeline to treat a number of select cancer indications.

 

 

NLSDays 2015 – Early Bird through March 31

Oslo Cancer Cluster is one of the supporting organizations for this years Nordic Life Science Days in Stockholm, as we were last year. This means that members of the cluster benefit from special rates on participation. Through March 31 you may also get early-bird discount.

In collaboration with other healthcare industry actors in Norway, Oslo Cancer Cluster will have a stand at NLSDays to promote Norwegian Healthcare Industry and the cluster members.

Questions regarding this conference may be directed to Jutta Heix, International advisor or Elisabeth Kirkeng Andersen, Head of Communicaton.

Read the latest newsletter from NLSDays 2015 below.

 

Why registering now?
Benefit from our Early Bird rates by registering before March 31st, 2015. Book and secure your company presentation slot when registering.

Benefit from an exclusive discount on all NLSDays’ registration rates. Please contact your organization to get your promotion code.

 

Why attending NLSDays 2015?

NLSDays annually attracts the best from pharma, biotech, medtech and finance the Nordic region has to offer for two days of intense networking. NLSDays’ Super Sessions, topical workshops and vibrant exhibition along with thousands of prescheduled face-to-face meetings make this event the place to be for companies across the Life Science value chain to meet and do business.

Attend NLSDays and take advantage of the opportunity for more partnering meetings in two days than in the rest of the year.

Based on attendance at previous events, NLSDays 2015 will bring together more than 1000 executives from biotechnology, medtech, pharmaceutical and finance companies from the Nordic region and from around the world, who will engage in some 2,000+ face-to-face meetings.

 

Why presenting at NLSDays 2015?

Presenting at NLSDays gives you a chance to increase your visibility and attract more potential partners. Pitch your company’s profile, pipeline and strategy to a selected audience representing over 30 countries. Be visible by business development executives, investors, media, and increase your activity in the partneringONE platform.

NB: Company presenters receive much more requests and schedule more meetings than non-presenting companies! Presenting companies are also spotlighted in NLSDays marketing material leading up to the event, as well as onsite.
Don’t miss the opportunity to book your presentation slot when registering.

Benefit from Early Bird rate on Company Presentation fees through March 31, 2015.

 

Why exhibiting at NLSDays?

The 2015 NLSDays Exhibition reflects our 2015 manifesto: “The Life Science Value Chain”.

Regional and country pavilions, from the Nordic Region and Europe, will showcase and host many companies from their regions or countries. Pharma, biotech, medtech and servives providers will join NLSDays exhibition as well.
About partneringONE™, the leading conference networking solution

partneringONE™ powered by EBD Group increase your ROI at the Nordic Life Science Days conference, reduce your overall business development costs and enhance your partnering effectiveness before, during and after the event. partneringONE allows you to:

• Search companies to source potential collaborations and funding opportunities

• Communicate directly with potential investors and/or partners

• Pre-schedule 30-minute face-to-face meetings to be organized onsite.

 

 

 

Targovax appoints former Algeta-CFO

Mr. Øystein Soug, has been the CFO of the late-stage oncology biotech company Algeta ASA since 2008, building up the functions of Finance, IR, Compliance, IT and HR. During Mr. Soug’s period at Algeta, the company raised USD 200m capital, launched Xofigo, established production and sales in the USA, partnered with and was acquired by Bayer AG. 

Gunnar Gårdemyr, CEO of Targovax, says “I am excited to welcome Øystein Soug to Targovax. With Øystein in place we are well positioned to move our products through the important Proof of Concept phase. Øystein’s recent experience from the successful financing and sub-sequent sale of Algeta to Bayer will be important to develop Targovax further.”

Before 2008, Mr. Soug was with the Norwegian Orkla group, holding two functions; first as project manager in Orkla’s Corporate Development M&A team and later as the CFO of SladCo, the Russian operations of Orkla. Prior to Orkla, Mr. Soug spent five years in banking. He has 17 years’ experience in international finance and corporate development. In addition, he has served as Deputy Chairman and Director of Bionor Pharma ASA since 2013.

Mr. Soug has an MSc in Economics and Finance and a Master of International Management (CEMS) both from the University of St Gallen in Switzerland.

Facts:
Targovax
Targovax was established in October in 2010 to develop immunotherapy in the form of therapeutic cancer vaccines based on pioneering research at the Norwegian Radium Hospital and Norsk Hydro. Mutation of RAS is an early mutation in the transformation of a normal cell into a cancer cell.

Lead candidate TG01 educates the body’s immune system to recognize and kill cancer cells with RAS mutations. TG01 has Orphan Drug status for pancreatic cancer in the EU and US and is currently in Phase II trials in operated pancreatic cancer. The company is located in Lysaker, close to Oslo, Norway.

 

Immuno- oncology / Cancer vaccines
The Norwegian cancer research community has been in the forefront of understanding the mechanisms for immuno-oncology and cancer vaccines. A cancer vaccine educates the body’s immune system to recognize and kill the cancer cells. The TG01 vaccine is therapeutic and is given as treatment to patients after surgery of cancer patients, to prevent relapse.

 

Pancreas cancer and other RAS-mutated cancer forms
Pancreatic cancer is a disease affecting 116 000 patients each year in EU and USA, and approximately 690 persons each year in Norway. Approx 15-20% of these are discovered at an early stage and are operable. The mortality is high, and the prognosis for these patients has been more or less unchanged the last 30 years. Approximately 80-90% of patients with pancreatic cancer have RAS mutations in the cancer cells.

RAS mutations occur in approx. 20% of all cancer cases, and are also frequent in colorectal cancer, non-small cell lung cancer and other cancers. Patients with RAS mutations within these indications have proved to be difficult to treat with current treatments, and there is a significant unmet medical need.

 


Oslo, 26. februar 2015 Pressemelding no 3 -2015:

Targovax melder med stor tilfredshet at Øystein Soug er selskapets nye CFO fra 1. juni 2015.

Øystein Soug har vært Chief Financial Officer i kreft-biotekselskapet Algeta ASA siden 2008, der han bygde opp funksjonene for finans, IR, virksomhetsstyring, IT og HR. I løpet av Sougs periode i Algeta, hentet selskapet inn USD 200 millioner i kapital, lanserte Xofigo, etablerte produksjon og salg i USA og inngikk samarbeid og ble kjøpt opp av Bayer AG.

Soug hadde før 2008 to funksjoner i den norske Orkla-gruppen, først som prosjektleder i Orklas Corporate Development M&A team, og deretter som CFO i SladCo, den russiske delen av Orkla. Før Orkla var Øystein Soug fem år i bank. Han har 17 års erfaring fra internasjonal finans og selskapsutvikling. I tillegg har han vært nestleder i styret og styremedlem i Bionor Pharma ASA siden 2013.

Øystein Soug har en MSc i Økonomi og Finans og en Master i Internasjonal Ledelse (CEMS), begge fra Universitetet i St Gallen i Sveits.

Gunnar Gårdemyr, CEO i Targovax sier “Jeg er glad for å kunne ønske Øystein Soug velkommen til Targovax. Med Øystein på plass, er vi godt posisjonert for å utvikle produktene våre gjennom den viktige Proof of Concept-fasen. Øysteins nylige erfaring fra suksessfull finansiering og etterfølgende salg av Algeta til Bayer vil være viktig for å utvikle Targovax videre.»

Kontakt:

Targovax Gunnar Gårdemyr, Chief Executive Officer, mob: E-mail: ggardemyr@targovax.com

Jonas Einarsson, Chairman of the Board, mob: (+47) 48 09 63 55 E-mail: je@radforsk.no

Fakta: Targovax

Targovax ble etablert i oktober 2010 for å utvikle immunterapi i form av terapeutiske kreftvaksiner, basert på pionérforskning ved OUS Radiumhospitalet og Norsk Hydro. Mutasjoner i RAS forstyrrer normal celledeling, og bidrar til utvikling av kreftceller og svulster. Første legemiddel under utvikling, TG01, lærer opp kroppens immunsystem til å gjenkjenne og drepe kreftceller med RAS-mutasjoner. TG01 har Orphan Drug Status for bukspyttkjertelkreft i EU og USA, og er nå i fase II klinisk utvikling innen operabel bukspyttkjertelkreft. Selskapet er lokalisert på Lysaker utenfor Oslo.

Immuno-onkologi / kreftvaksiner

Det norske kreftforskningsmiljøet har vært i forskningsfronten når det gjelder å forstå mekanismene for immuno-onkologi/immunterapi og kreftvaksiner. En kreftvaksine lærer opp kroppens immunsystem til å gjenkjenne og drepe kreftcellene. TG01 er terapeutisk, den gis som behandling til pasienter etter kirurgi, for å forhindre tilbakefall.

Bukspyttkjertelkreft og andre RAS-muterte kreftformer.

Bukspyttkjertelkreft er en sykdom som rammer 116 000 pasienter hvert år i EU og USA, og ca 690 pasienter årlig i Norge. Ca 15-20% av disse avdekkes på et tidlig stadium og kan opereres. Dødeligheten er høy, og prognosen for disse pasientene har vært mer eller mindre uendret de siste 30 år. Ca 80-90% av pasienter med bukspyttkjertelkreft har RAS-mutasjoner i kreftcellene.

RAS-mutasjoner forekommer i ca 20% av alle krefttilfeller, også ofte i tykktarmskreft, ikke-småcellet lungekreft og andre kreftformer. Pasienter med RAS – mutasjoner innen disse sykdommene har vist seg å være vanskelig å behandle med dagens tilgjengelige medisiner, og det er et stort udekket medisinsk behov.

– See more at: http://www.noodls.com/viewNoodl/27052320/targovax-as/trvx-targovax-appoints-216ystein-soug-as-new-cfo#sthash.zygqEXIj.dpuf

Partnership4Life – oncology session and opportunity to do 1:1 meetings

February 12, LMI, DNB Healthcare, AbbVie, Novartis and Pfizer hosts a one day seminar called A partnership for life in 2015 – How to develop a strong Norwegian biotechnology and health industry sector?

Oslo Cancer Cluster is well represented this day; we will host an oncology session and Jónas Einarsson, CEO Radium Hospital Research Foundation, will give a spech on Norwegian biotech and health industry from words to action. There will also be opportunity to do 1: 1 meetings with potential partners.

Global biotech and pharmaceutical industry, academia, financial institutions, investors, hospitals and politicians are invited to participate.

The program is twofold. Before lunch there will be an overarching focus with introductions and a panel discussion on this subject. After lunch there will be shorter seminars where different actors will exchange information and experiences.

Finally, it is allocated time for the 1: 1 meetings between potential partners. The day ends with dinner at Cafe Christiania in Oslo.

  • Register her
  • Register for 1:1 meetings by sending e-mail to monica@lmi.no to be put in contact with the international companies

PROGRAM
Forskningsparken, 12 February 2015

8:30 to 9:00 Registration and refreshments

9:00 to 9:15 Opening

9:15 to 9:30 Travelogue from Silicon Valley
Alexander Woxen, entrepreneur and investor

9:30 to 10:00 Introduction by Ministry of Economics
Dilek Ayhan, Secretary in the Ministry of Industry

10:00 to 10:15 Norwegian biotech and health industry from words to action
Jonas Einarsson, CEO Radium Hospital Research Foundation

10:15 to 11:30 Plenary Discussion: “How do we build a strong Norwegian biotech and health industry sector.”
Else-May Botten (AP)
Harald Tom Nesvik (FRP)
Trine Skei Grande (Left)
Karita Bekkemellem (LMI)
Benedicte Bakke (DNB)
Alexander Woxen (Investor)
Sander Tufte (Research)
Thomas Ramdahl (Bayer)

13.00 to 14.30 Parallel Sessions on 1 Public-private research collaborations and 2 Access to capital

14.30 to 15.00 Coffee and refreshments

15.00 to 16.30 Exchange of research ideas and focus. Introduction of national and international companies about their research focus. Parallel Sessions: Neuroscience and Oncology.

Session: Oncology

  • Elisabeth Kirkeng Andersen, Head of Communication in Oslo Cancer Cluster (chairperson)
  • Dr. Morten Sogaard, Vice President and Head Enterprise Scientific Technology Operations in Pfizer Worldwide R&D
  • Dr. Peter Schuld, Head of Medical Affairs Oncology Western European Cluster in Novartis
  • Dr. Anil Singahl, Vice President & Head, AbbVie biotherapeutics
  • Øyvind, Arnesen, CEO Ultimovacs
  • Konstantinos Alevizopoulos, CEO Apim Therapeutics

Session: Neuroscience

  • Leif Rune Skymoen, CEO Nansen Neuroscience Network
  • Dr Scott Brown, Vice President of Pharmaceutical Development in AbbVie
  • Dr. Morten Sogaard, Vice President and Head Enterprise Scientific Technology Operations in Pfizer Worldwide R & D

16.30 to 18.30 Possibility of 1-1 meetings between national and international companies
In agreement with the companies. Interested parties may send email to monica@lmi.no to be put in contact with the international companies.

19.00 to 22.30 Dinner at Cafe Christiania
Lower Vollgate 19, 0158 Oslo (Entrance from Stortingsgaten)

Vaccibody Granted Platform Patent in the US

Vaccibody AS, a biopharmaceutical company focusing on immunotherapy and vaccines, is pleased to announce that the U.S. Patent Office has Issued patent No. US 8,932,603 B2 covering the Vaccibody format which can be described as homodimeric modular constructs targeting vaccines to antigen presenting cells designed to increase the immune system’s antibody and T-cell responses. In December 2014 Vaccibody announced that the equivalent patent was granted by the European Patent Office.

 

This patent protects Vaccibody’s platform technology on which the company has based its lead drug candidate VB10.16 as well as the previously announced license agreement with the Phibro Animal Health Corporation, covering vaccines for poultry. The technology allows for the development of new and more efficient vaccines as well as new versions of existing vaccines with a need for improved efficacy.  It lends itself to therapeutic vaccines, such as cancer vaccines, as well as prophylactic (preventive) vaccines against infections.

The company will utilize its technology platform to develop human and veterinary Vaccibody vaccines both through developing its own drug pipeline as well as offering the pharmaceutical industry exclusive licenses to the technology platform.

The company’s lead product, VB10.16, is being developed as a DNA vaccine to prevent the development of and treat HPV16 induced pre-malignancies and malignancies. The first in man clinical trial is currently in late stage preparations. This initial clinical evaluation will aim to characterise the safety and immunogenicity of VB10.16 in HPV16 infected women with high grade cervical intraepithelial neoplasia (HSIL; CIN 2/3).

Tom Pike, Acting CEO of Vaccibody, commented: “This patent is a cornerstone in the protection of our novel technology platform, which is the discovery engine of Vaccibody’s own pipeline. We expect that it will also provide the basis for additional strategic partnerships with pharmaceutical companies in the future. Although Vaccibody has filed a number of additional patent applications offering several layers of protection to our pipeline and technology, this patent family is the first and thus represents an important milestone for the company.”

 

About Vaccibody AS
Vaccibody is a vaccine company dedicated to the discovery and development of novel prophylactic and therapeutic vaccines which target cancer and infectious diseases, for human and veterinary use. Vaccibody’s lead program is focused on VB10.16, a therapeutic DNA vaccine against HPV induced  pre-malignancies and malignancies. A first-in-man study currently in preparation will evaluate the safety and immunogenicity of VB10.16 in women with high grade cervical intraepithelial neoplasia (HSIL; CIN 2/3) and is planned to be initiated early 2015. www.vaccibody.com

 

Ultimovacs carries out NOK 45 million share issue with Canica AS and Sundt AS as the main investors

Oslo Cancer Cluster member Ultimovacs AS has carried out a successful NOK 45 million share issue with DNB Markets and Arctic Securities as financial advisors. The issue was fully subscribed by new shareholders. The two biggest new shareholders are Canica AS and Sundt AS.

 

The funds raised through the share issue will be used to implement and further develop the company’s programme to document the effect of its first product; the therapeutic cancer vaccine UV1. During the next two years, the company will complete and finish two clinical trials to show how UV1 activates the immune system.

In addition, Ultimovacs began a third trial in January 2015 to explore efficacy and safety of UV1 is in combination with another drug that also manipulates the immune system into attacking cancer cells. The new funds will also cover the costs of this trial and allow the company to establish and document a commercial-scale production process for UV1.

CEO Øyvind Kongstun Arnesen comments: ‘This share issue enables the company to maintain its strong professional focus as it continues its work on documenting efficacy and safety of UV1 is in cancer treatment. We are very pleased to have some of the strongest investment communities in Norway on our team. The new owners recognise the company’s ambitions to improve the current cancer treatment while developing a business enterprise with great potential.’

Canica looks forward to further developing Ultimovacs in cooperation with an expert community and a sound investor base. ‘We believe that the company is well placed to succeed with its innovative immunotherapy,’ says Nils Selte, CEO of Canica.

Leiv Askvig, CEO of Sundt, comments: ‘With its universal cancer vaccine, Ultimovacs has great potential, both when it comes to developing new cancer treatments to benefit patients and creating good value for shareholders.’

Ultimovacs is a biotechnology company that develops a therapeutic universal cancer vaccine. Such cancer treatment is not linked to a specific type of cancer, but has the potential to trigger a general immunologic reaction against cancer cells, regardless of the type of cancer. Stimulating the immune system to attack cancer cells is a revolutionary form of cancer treatment and a treatment principle in rapid international development. Several new treatments based on this principle have already been introduced, and the technology has the potential to greatly improve the treatment options available for cancer. The Norwegian academic communities and companies that belong to Oslo Cancer Cluster are world-leading in this field. Ultimovacs is one such company.

About Ultimovacs:

Ultimovacs AS was established by Inven2 in 2011. The company’s goal is to develop technology from the Norwegian Radium Hospital for use in cancer treatment and to make the treatment available to patients. The technology is based on the possibility of controlling the immune system to make it recognise and kill cancer cells.

Ultimovacs is carrying out three clinical trials intended to document that the company’s main product, UV1, can produce a controlled immune response and is safe to use, either alone or in combination with other drugs that also activate the immune system to attack cancer cells.

The biggest shareholders in the company are Gjelsten Holding AS, Inven2, Langøya Invest AS, Canica AS, Sundt AS and the Norwegian Radium Hospital Research Foundation. From July 2015, the company will be located in Oslo Cancer Cluster Innovation Park at Montebello.