Kancera provides an operational update and announces an issue of shares in accordance with the agreement with Global Corporate Finance
In June, Kancera reported positive interim results from the ongoing Phase Ib study of KAND567. The Phase Ib study aims to study an infusion solution of the drug candidate in healthy subjects in preparation for a planned Phase IIa study in patients with myocardial infarction.
Kancera has also announced that the next step in the study, which includes prolonged infusion, requires a formal approval from the Swedish Medicines Agency due to a local and transient irritation at the injection site. The Swedish Medicines Agency has given its formal approval, which means that the Phase Ib study now proceeds according to the previously communicated plan, which means that it is expected to be completed in October with reporting of the results in November this year.
The new share issue to GCF takes place in accordance with the agreement including a discount of 9% based on the share price. The new share issue, which is supported by authorization from the Annual General Meeting on May 27, 2019, increases the number of shares in Kancera to 209 825 492.
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, email@example.com) 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
Kancera AB (publ)
Karolinska Institutet Science Park
SE 171 48 Solna
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