GOTHENBURG, Sweden, May 29, 2020 – Isofol Medical AB’s (publ) (Nasdaq First North Premier Growth Market: ISOFOL) (“Isofol” or the “Company”), has been informed by Professor Bengt Gustavsson – founder and largest owner of Isofol – that Professor Gustavsson has initiated that all the subscription rights held by Biofol AB (an affiliated company to Professor Gustavsson), obtained in connection with the fully guaranteed preferential rights issue of approximately SEK 150 million, has been purchased by a consortium of investors.
The consortium of investors has committed to Professor Gustavsson that they will subscribe for new shares in the rights issue by utilizing the purchased subscription rights.
Furthermore, Isofol has been informed by Professor Gustavsson that he intends to subscribe for new shares in the rights issue by utilizing the subscription rights Professor Gustavsson holds privately.
For further information, please contact
Isofol Medical AB (publ)
Jarl Ulf Jungnelius, M.D., Chief Executive Officer
Mobil: +46 (0) 709 16 89 55
FNCA Sweden AB
Phone: +46 (0)8 528 003 99
The information was submitted for publication through the agency of the Company’s CEO at 08.45 CET on May 29, 2020.
Arfolitixorin is Isofol’s proprietary drug candidate being developed to increase the efficacy of standard of care chemotherapy for advanced colorectal cancer. The drug candidate is currently being studied in a global Phase III study, AGENT. As the key active metabolite of the widely used folate-based drugs, arfolitixorin can potentially benefit all patients with advanced colorectal cancer, as it does not require complicated metabolic activation to become effective.
About Isofol Medical AB (publ)
Isofol Medical AB (publ) is a clinical stage biotech company developing arfolitixorin to improve the efficacy of standard of care chemotherapy for advanced colorectal cancer by increasing tumor response and progression free survival. Isofol holds a worldwide exclusive license agreement with Merck KGaA, Darmstadt, Germany to develop and commercialize arfolitixorin for oncology indications. Isofol Medical AB is traded on the Nasdaq First North Premier Growth Market. Certified Adviser is FNCA Sweden AB