Kancera completes the third and final installment for the Fractalkine project
2019-07-15
Kancera today announces that the third installment for the Fractalkine project and KAND567 is carried out according to the acquisition agreement. The payment that was activated in connection with the ongoing Phase Ib study takes place through a new issue of two million of the company’s shares to Acturum AB.
Payment of the Fractalkine project is hereby completed through the last of three off-set issues, which together comprise six million shares in Kancera. The new share issue announced today, which is supported by authorization of the Annual General Meeting on May 27, 2019, increases the number of shares in Kancera to 204,825,492.
After the final installment, Kancera owns exclusive rights to KAND567 in all disease areas.
Specifically for lung diseases, AstraZeneca AB is entitled to be the first company to be offered an opportunity to acquire, on commercial terms, a possible future product based on KAND567 (“right of first refusal”) and that Acturum AB is entitled to payment of a low level of royalty on Kancera’s net income.
Kancera’s drug candidate KAND145 is exclusively owned by the company.
About Kancera AB (publ)
Kancera develops drugs that counteract damage during acute and chronic inflammation. The Fractalkine blocker KAND567 is primarily developed to effectively and selectively reduce the inflammation of the heart and vessels following a heart attack and is expected to enter the clinical phase II study in 2019. Since scientific studies have shown elevated levels of fractalkine not only in heart attacks but also in inflammatory diseases and certain forms of cancer, there are several possible development opportunities for the fractalkine blockers KAND567 and KAND145. Kancera also develops preclinical drug projects against cancer aimed at stopping survival signals in the cancer cell and preventing the cancer cell’s ability to be repaired. Kancera operates at Karolinska Institutet Science Park in Stockholm. The share is traded on Nasdaq First North. FNCA Sweden AB (tel. 08-528 00 399, info@fnca.se) is the company’s Certified Adviser. MD PhD Charlotte Edenius, MD PhD Anders Gabrielsen, Professor Carl-Henrik Heldin and Professor Håkan Mellstedt are all scientific advisors and board members of Kancera AB.
For further information, contact:
Thomas Olin, CEO: +46-(0)735-20 40 01
Adress:
Kancera AB (publ)
Karolinska Institutet Science Park
Banvaktsvägen 22
SE 171 48 Solna
Welcome to visit our home-page: www.kancera.com
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