02.09.2017

Oncoinvent closes $ 25 Million Private Placement

Press Release 03.2017: Financing will support development of Radspherin™, a novel radiotherapeutic treatment for peritoneal carcinomatosis

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Oncoinvent announced today the closing of a 210 MNOK (approx. 25 MUSD) private placement of ordinary shares.  Large privately owned investment companies joining the Company as new investors include Geveran Trading Co. Ltd., Canica AS, CGS Holding AS, Helene Sundt AS and Must Invest AS.  Oncoinvent AS is developing therapeutics to combat various cancers based on delivery of tumour-cell killing doses of radiation and/or immunotargeting of tumor cells.

"We are pleased at the response that we have received from the investment community regarding our private placement.  The round was heavily oversubscribed.  With this financing round we now have, in addition to the new funding, a shareholder base in the company that will enable Oncoinvent to bring Radspherin™ to a clinical proof of concept." said Jan A. Alfheim, Oncoinvent’s CEO. 


About Radspherin™
Radspherin™ is a novel alpha-emitting radioactive microsphere designed for treatment of metastatic cancers in body cavities. The radium based therapeutic, Radspherin™ has shown strong and consistent anticancer activity without any visible signs of product related toxicity in preclinical studies. It is anticipated that the product can potentially treat several forms of metastatic cancer. The first clinical indication for Radspherin™ will be treatment of peritoneal carcinomatosis originating from ovarian cancer. Peritoneal carcinomatosis is one of the most serious complications of gastrointestinal and gynecological malignancies. 

About Oncoinvent
Oncoinvent AS is a privately held Norwegian company based in Oslo, Norway. The company is committed to developing new innovative products in order to provide better treatment options to cancer patients.
The company's founders started Oncoinvent in 2010 with a view to designing better cancer treatments by applying known physical and chemical principles of selected novel materials in new ways in order to maximize their medical benefit while minimizing potential safety concerns. This approach has allowed the company to develop a rich development pipeline and to explore multiple technological avenues before selecting a lead product candidate for preclinical testing.

For further information, please contact:
Jan A. Alfheim, Chief Executive Officer
Cell: +47 46 44 00 45
Email: Alfheim@oncoinvent.com

IR enquiries:
Ole Peter Nordby, Acting Chief Financial Officer 
Cell: +47 41 28 71 79 
Email: nordby@oncoinvent.com
 

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01.25.2017

Oncoinvent is on the move!

Oncoinvent announced today that will be moving operations from its current facilities at Kjelsåsveien 168B to a new location at Gullhaugveien 7 in Nydalen, Oslo in April. The move will provide the company with a larger office space as well as space for a new production and lab facililties.

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Jan A. Alfheim, Oncoinvent’s CEO commented: “We are looking forward to moving into our new offices. The space in new facilities will allow the company to expand its research laboratory operations and to design a modern and efficient production facility for clinical supplies of our lead compound Radspherin™. We are grateful for the assistance of NAI FirstPartners in finding such well suited facilities for our needs.”

About Oncoinvent
Oncoinvent AS is a privately held Norwegian company based in Oslo, Norway. The company is committed to developing new innovative products in order to provide better treatment options to cancer patients.

The company's founders started Oncoinvent in 2010 with a view to designing better cancer treatments by applying known physical and chemical principles of selected novel materials in new ways in order to maximize their medical benefit while minimizing potential safety concerns. This approach has allowed the company to develop a rich development pipeline and to explore multiple technological avenues before selecting a lead product candidate for preclinical testing.

 

For further information, please contact:
Jan A. Alfheim, Chief Executive Officer
Cell: +47 46 44 00 45
Email: Alfheim@oncoinvent.com

IR enquiries:
Ole Peter Nordby, Acting Chief Financial Officer
Cell: +47 41 28 71 79
Email: nordby@oncoinvent.com

 

 

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01.18.2017

Oncoinvent patent issues in the USA

Press release: Oncoinvent announced today that US Patent 9,539,346 entitled "Radiotherapeutic particles and suspensions" has issued. The patent relates to a particle or pharmaceutical composition comprising one or more particles, or a suspension of same or different particles comprising a degradable compound and an alpha emitting radionuclide and/or a radionuclide generating alpha emitting daughter. The particles are beneficial for use in the treatment of cancer.

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Jan A. Alfheim, Oncoinvent’s CEO commented: "This is a significant milestone in the development of our lead product candidate, Radspherin™. With this first patent we have gained a solid protection of Radspherin™ until 2035 in what we believe will be a very significant future market for the product. Our Radspherin™ patent applications include claims on composition of matter as well as various medical and medical device applications. The current applications and this issued patent are therefore very broad and cover a wide spectrum of Radspherin™ particle variants and applications."

 

 

About Radspherin™
Radspherin™ is a novel alpha-emitting radioactive microsphere designed for treatment of metastatic cancers in body cavities. The radium based therapeutic, Radspherin™ has shown strong and consistent anticancer activity at doses being essentially non-toxic in preclinical studies. It is anticipated that the product can potentially treat several forms of metastatic cancer. The first clinical indication for Radspherin™ will be treatment of peritoneal carcinomatosis originating from ovarian cancer. Peritoneal carcinomatosis is one of the most serious complications of gastrointestinal and gynecological malignancies.

About Oncoinvent
Oncoinvent AS is a privately held Norwegian company based in Oslo, Norway. The company is committed to developing new innovative products in order to provide better treatment options to cancer patients.

The company's founders started Oncoinvent in 2010 with a view to designing better cancer treatments by applying known physical and chemical principles of selected novel materials in new ways in order to maximize their medical benefit while minimizing potential safety concerns. This approach has allowed the company to develop a rich development pipeline and to explore multiple technological avenues before selecting a lead product candidate for preclinical testing.

 

For further information, please contact:
Jan A. Alfheim, Chief Executive Officer
Cell: +47 46 44 00 45
Email: Alfheim@oncoinvent.com

IR enquiries:
Ole Peter Nordby, Acting Chief Financial Officer
Cell: +47 41 28 71 79
Email: nordby@oncoinvent.com

 

 

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12.10.2016

DnB Healthcare Prize 2016

Press release: Oncoinvent selected to present as a finalist in DnB Healthcare Prize 2016 competition.

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For the second year in a row, the DNB Healthcare Prize will be presented on the 15th of December during the the 7th annual DnB Healthcare Conference. The competition is for companies in an early growth phase.

The winner of the completion will be awarded NOK 1 million.

The companies selected for the DNB Healthcare Prize 2016 final competition include:

  1. SpinChip Diagnostics AS
  2. Vectron Biosolutions AS
  3. Otivio AS
  4. Prediktor Medical AS
  5. EpiGuard AS
  6. Oncoinvent AS

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09.07.2016

New Chief Executive Officer

The 1st of September 2016, Jan A. Alfheim entered the position as Chief Executive Officer (CEO) of Oncoinvent AS. Jan A. Alfheim comes from the position Chief Operation Officer (COO) in Nordic Nanovector ASA, where he until 2014 was responsible for the company’s leadership as CEO.

Tina B. Bønsdorff enters the position as Chief Scientific Officer (CSO) of Oncoinvent and Ole Peter Nordby has been appointed acting Chief Financial Officer (CFO).

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08.12.2016

New board members at Oncoinvent as

The extraordinary General Assembly of Oncoinvent convened at July 28th unanimously decided to elect Ludvik Sandnes and Jónas Einarsson as new members of the Board of Directors.

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Ludvik Sandnes has more than 40 years of experience from international corporate finance, asset management and investment banking from Norfund, The Royal Bank of Scotland, BDO Noraudit, PwC Financial Advisors, Christiania Bank, UNI Storebrand, Orkla Borregaard, Den Norske Creditbank and Statoil. Current board positions include: Nordic Nanovector (chairman). Oslo Cancer Cluster, IC-T AS, Pre Diagnostics AS, Pioner Fonds AS and Godthaab Helse og Rehabilitering. He has a Bachelor of Commerce and a degree as Certified European Financial Analyst (AFA) from the Norwegian School of Economics and Business Administration, NHH.

Jónas Einarsson is Chief Executive Officer of the Radium Hospital Research Foundation (RF). RF is an experienced pre-seed investor and project developer focused on cancer. Einarsson was one of the initiators behind Oslo Cancer Cluster and the Oslo Cancer Cluster Innovation Park. Jónas Einarsson serves on the board of Targovax (chairman), Ultimovacs and Biomolex.

The General Assembly further released Dr. Øyvind Bruland from his duties at the Board. Bruland will continue to serve as key member of the team at Oncoinvent and enter the position as CMO. As such he will be leading the ongoing preparations for the first clinical trial with Oncoinvent’s lead product candidate Radspherin™.

The extraordinary general assembly also approved the private placement of 34 400 new shares. The placement completes the oversubscribed share issue of May 2016. The total number of shares after this placement will be 775 100, pending for registration in The Register of Business Enterprises.

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05.20.2016

15 million in a private placement

Oncoinvent AS has successfully completed a private placement. The share offering was directed towards Oncoinvent’s existing shareholders and a limited number of private investors. The issue was oversubscribed and will provide NOK 15 mill. to Oncoinvent, net of transaction costs.

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The proceeds will be used to build manufacturing capacity for the clinical development program of the company’s lead compound, a new alpha-therapeutic designed for local treatment of micrometastases. Oncoinvent will further use the funds made available through the transaction to expand its activities and acquire the additional human resources required for preparations of its first clinical trial.

A total of 48 investors participated in the issue. The total number of shares after the Board of Directors allocated new shares at its meeting at May 19th will be 740 700, pending for registration in The Register of Business Enterprises.

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