Kancera AB announces that a letter of intent has been signed with US-based private investor

With Kancera’s development of the Fractalkine project as a basis, negotiations with the privately-owned company GC Finance have led to a letter of intent as a basis for investment in the company. Kancera intends to use the supplementary capital from GCF (to be decided by an extraordinary general meeting, convened through a separate notification) to evaluate further indications for Kancera’s portfolio of Fractalkine blockers, expanding planned clinical trials as well as for the company’s overall operations.

GCF’s investment will be made in shares through targeted issues with a 9% discount on market price. In connection with the signing of the investment agreement, a one-off fee in the form of shares in Kancera will be paid, equivalent to 3.5% of the investment volume of SEK 60 million (SEK 2.1million) and thereafter, the first issue will be capitalized at approximately the same amount.

“This financing model is an interesting complement to traditional forms of new issues. The agreement with GCF does not contain any requirements for loan of shares, warrants or other conditions. GCF’s potential upside of the investment, requires, like for all shareholders, a long-term positive development for Kancera”, says Erik Nerpin, Chairman of the Board of Kancera.  

“The investment in Kancera is a logical step in GCF’s strategy to invest in Life Science companies with unique technology in clinical phase and the potential to develop significant value over the next two to five years,” said Randy Rivera, Managing Director at GCF.

About Kancera
Kancera develops the basis for new therapeutics, starting with new treatment concepts and ending with the sale of a drug candidate to international pharmaceutical companies. Kancera is currently developing drugs for the treatment of inflammation and cancer, by regulating the immune system, blocking survival signals in the cancer cell and addressing repair mechanisms. Kancera’s operations are based in the Karolinska Institute Science Park in Stockholm and the company employs around 15 people. Kancera shares are traded on NASDAQ First North and the number of shareholders was more than 7400 as of September 30th, 2018. FNCA is Kancera’s Certified Adviser. MD PhD Charlotte Edenius, MD PhD Anders Gabrielsen, Professor Carl-Henrik Heldin samt Professor Håkan Mellstedt are board members and Kancera’s scientific advisers.

About Global Corporate Finance 
Global Corporate Finance (GCF) is a private family office, located in New York City. GCF focuses on micro and mid cap companies in emerging markets and provide a global footprint for proprietary partnering resources, expertise, and funding. GCF has made investments in listed companies in the US, Canada and Europe.

For further information, contact:

Erik Nerpin, Chairman of the board, +46-(0)70-620 73 59
Thomas Olin, CEO: +46-(0)735-20 40 01

Address:
Kancera AB (publ)
Karolinska Institutet Science Park
Banvaktsvägen 22
SE 171 48 Solna 

Welcome to visit our home-page; www.kancera.com