The incentive program consisting of stock – and employee options in Isofol Medical AB, which was initiated in 2012 with a duration until January 2018, has ended. The CEO, directors and employees have subscribed a total of 450 302 shares at SEK 17 per share corresponding to a total of SEK 7 655 136.
After 450 302 newly issued shares are registered there will be a total of 32 054 802 outstanding shares in the company. The quota value per share is SEK 0,031 and the total share capital will amount to SEK 981 448.
The new shares will be admitted for trading on Nasdaq First North Premier as soon as the newly issued shares has been registered at the Swedish Companies Registration Office and Euroclear. The subscription results in a dilution of 1.4%.
Jan-Eric Österlund, Chairman: “It is very pleasing that the company’s management and board have made additional investments in Isofol. Together, we are now working towards the start of the Phase III study with our cancer drug candidate in patients with metastatic (spread) colorectal cancer. The start of the study will be our most important step so far towards a potential market registration of Modufolin® (arfolitixorin)”.
For more information, please contact:
Anders Rabbe, CEO, Isofol Medical AB (publ)
Phone: +46 (0)707 646 500
About Modufolin® (arfolitixorin)
Modufolin® (arfolitixorin) is a treatment for advanced colorectal cancer and is suitable for all patients irrespective of their capacity to activate folates. The active ingredient [6R]-5,10-methylenetetrahydrofolate, is a novel folate-based compound developed to increase the efficacy and reduce the side effects of antimetabolites used in cancer treatment. It is the key active metabolite of the widely used folate-based drugs leucovorin and levoleucovorin. As Modufolin® (arfolitixorin) does not require metabolic activation to exert its effect, Modufolin® is suitable for all patients irrespective of their capacity to activate folates.
About Isofol Medical AB (publ)
Isofol Medical AB (publ) is a clinical stage oncology company developing Modufolin® as a first-line treatment of metastatic colorectal cancer and as a rescue drug after high-dose methotrexate treatment in osteosarcoma. Through a worldwide exclusive license agreement, Isofol Medical holds the rights to develop and commercialise Modufolin® within oncology with access to the unique patented production process and the production capabilities of Merck KGaA, Darmstadt, Germany. Isofol Medical AB is traded on the Nasdaq First North Premier. Certified Adviser is FNCA Sweden AB.