On June 3, 2020 Isofol Medical AB (publ) (Nasdaq First North Premier Growth Market: ISOFOL) ("Isofol" or the "Company") reported that fully guaranteed new share issue with preferential rights for the Company’s existing shareholders (the "Rights Issue"), which ended on June 1, 2020, was oversubscribed (Press release, Isofol Medical, JUN 3, 2020, View Source [SID1234561554]). Due to the strong demand from strategic investors, a directed issue with deviation from the shareholders’ preferential rights of approximately SEK 30 million (the "Over-Allotment Option") was exercised. Through the Rights Issue and the Over-Allotment Option, Isofol will receive proceeds amounting to approximately SEK 180 million before transaction costs.

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Not for publication, distribution or release, directly or indirectly, in whole or in part, within or into the US, Canada, Japan, Australia, Hong Kong, New Zeeland or any other jurisdiction in which such publication, distribution or release may be contravening to any applicable laws or rules. Additional restrictions are applicable, please see "Important information" in the end of this press release.

The result of the Rights Issue of maximum 42,739,736 shares shows that 41,501,048 new shares, corresponding to approximately 97.1 percent of the Rights Issue, have been subscribed for with subscription rights. Additionally, 94,170,568 shares were subscribed for without subscription rights of which 1,238,688 shares, corresponding to 2.9 percent of the Rights Issue, have been allotted to investors that have subscribed for shares without subscription rights. The Rights Issue is thus oversubscribed. Allotment of shares subscribed for without subscription rights has been made in accordance with the resolved allotment principles. Notice of allotment of shares subscribed for without subscription rights will only be sent to those who have been allotted shares. Payment shall be made in accordance with the instructions on the contract note. Nominee-registered shareholders will receive notice of allotment and payment in accordance with the procedures of each nominee.

Due to the oversubscription of the Rights Issue, the Board of Directors of Isofol has exercised the Over-Allotment Option to meet additional demand from strategic investors through a directed issue of 8,571,428 new shares. Shares in the Over-Allotment Option were allotted to several investors, among others, The Fourth Swedish National Pension Fund ("AP4"), thereby broadening Isofol’s shareholder base.

Isofol’s CEO Ulf Jungnelius comments: "We are very pleased with the strong support from both existing and new shareholders in the Rights Issue which made it possible to exercise the Over-Allotment Option. The Rights Issue in combination with the Over-Allotment Option will give Isofol the financial resources to execute the global Phase III study AGENT and ensure that we continue our successful development of arfolitixorin in accordance with our business plan and strategy."

Following the Rights Issue and Over-Allotment Option, Isofol’s share capital will increase by approximately SEK 1,570,993.9 to approximately SEK 2,552,442.3 and the number of shares in Isofol will increase by 51,311,164 shares to 83,365,966 shares.

The shares subscribed for with subscription rights are expected to be registered with the Swedish Companies Registration Office (the "SCRO") on or about June 5, 2020 and are expected to begin trading on Nasdaq First North Premier Growth Market on June 9, 2020.

The shares subscribed for without subscription rights and through exercise of the Over-Allotment Option are expected to be registered with the SCRO on or about June 16, 2020 and are expected to begin trading on Nasdaq First North Premier Growth Market on June 18, 2020.

Advisers
Carnegie Investment Bank AB (publ) and Pareto Securities AB act as Joint Bookrunners in connection with the Rights Issue and the potential Over-Allotment Option. Vinge law firm acts as legal adviser to Isofol, and Baker McKenzie acts as legal adviser to the Joint Bookrunners.

This information is such information that Isofol Medical AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU) No 596/2014. The information was submitted for publication through the agency of the Company’s CEO at 08:00 CET on June 3, 2020.

About arfolitixorin
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.

On June 3, 2020 Purdue University reported that Acute myeloid leukemia (AML), an aggressive blood cancer, is one of the most lethal cancers. More than 19,000 new cases are diagnosed a year, and more than 11,000 people a year die from it, according to the American Cancer Society (Press release, KinaRx, JUN 3, 2020, View Source,-which-aims-to-better-treat-relapse.html [SID1234560885]).

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A $1,999,998 SBIR Phase I/II grant from the National Cancer Institute to KinaRx LLC, a Purdue University-affiliated startup, will help fast-track to human trials a novel platform aimed at treating relapse for AML and other diseases.

"We are ready to take our technology to the next level and potentially help people who are dealing with aggressive and deadly diseases that offer few treatment options, particularly for relapse patients," said Herman O. Sintim, the Drug Discovery Professor of Chemistry in Purdue’s Department of Chemistry.

KinaRx was founded by Sintim, who is its chief scientific officer, along with M. Javad Aman, Rena Lapidus, Ashkan Emadi, Frederick Holtsberg and Joe O’Neill.

The compounds under development by KinaRx were developed using Sintim’s platform that makes complex drug molecules rapidly using bioinformatics, multi-component compound synthesis and the understanding of disease biology.

KinaRx has licensed drug compounds through the Purdue Research Foundation Office of Technology Commercialization, which is now housed in the Convergence Center for Innovation and Collaboration in Discovery Park District, adjacent to the Purdue campus.

"These compounds have shown promise in treating people who have a recurrence of AML and now we want to do further testing and move into clinical trials," said Sintim, who is a member of the Purdue University Center for Cancer Research and the Purdue Institute for Drug Discovery.

About 30 percent of AML patients have a mutation caused by a kinase called FLT3, which makes the leukemia more aggressive. Although a few FLT3 inhibitors have already been approved in the clinic, patients can relapse due to mutations in the FLT3 protein, which cause drug resistance. KinaRx is commercializing a series of new compounds that inhibit mutant FLT3 kinases, especially mutant versions that are resistant to current FDA-approved FLT3 inhibitors such as gilteritinib. These compounds were developed by researchers in Sintim’s lab at Purdue.

The researchers are looking for partners to continue testing and developing their technology. For more information on other opportunities related to the technology, contact Sintim at [email protected].

On June 3, 2020 argenx (Euronext & Nasdaq: ARGX), a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases and cancer, reported that Tim Van Hauwermeiren, Chief Executive Officer, will participate in a fireside chat at the Goldman Sachs 41st Annual Global Healthcare Conference on Wednesday, June 10, 2020 at 8:00 a.m. ET (Press release, argenx, JUN 3, 2020, View Source [SID1234560839]).

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A live webcast of the fireside chat will be available on Investors section of the Company’s website at www.argenx.com. A replay of the webcast will be available for 90 days following the presentation.

On June 3, 2020 Portage Biotech Inc. (CSE:PBT.U, OTC Markets: PTGEF) ("Portage" or the "Corporation") reported that, further to its news release dated May 25, 2020, the Corporation’s common shares will commence trading on a one hundred (100) old for one (1) new share consolidated basis (the "Consolidation") (also known as a "reverse split") under a new CUSIP number G7185A128 and ISIN number VGG7185A1286. The corporate name and trading symbol for the Corporation will remain unchanged (Press release, Portage Biotech, JUN 3, 2020, View Source [SID1234560816]). The effective date that the post-consolidated common shares will begin trading on CSE is June 5, 2020.

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The Consolidation proposal was approved by shareholders at the Annual General and Special Meeting of Shareholders of the Corporation held on January 8, 2019, in which the Board of Directors was authorized, in its sole discretion and by means of a resolution, to proceed with the proposed consolidation of the common shares in the capital of the Corporation by a ratio of up to 120-for-1 basis, without further approval of shareholders. On May 19, 2020, the Board of Directors set the Consolidation ratio at 100-for-1.

There are currently 1,098,770,697 common shares issued and outstanding. Upon completion of the Consolidation, there will be approximately 10,987,707 common shares issued and outstanding. The exact number of post-consolidated shares will vary depending on the treatment of fractional shares, which will occur when each shareholder’s holdings in the Corporation are consolidated. The Corporation will not issue any fractional common shares as a result of the consolidation. Instead, all fractional shares will be rounded down to the nearest whole common share unless a shareholder will hold less than one share in which case the fractional share will be rounded up. Outstanding stock options will also be adjusted by the Consolidation ratio and their respective exercise prices adjusted accordingly.

On the effective date of Consolidation, registered shareholders may surrender their physical share certificates evidencing their common shares to the Corporation’s transfer agent, TSX Trust Company ("TSX Trust"), at 301-100 Adelaide Street West, Toronto, Ontario, M5H 4H1, for replacement certificates representing the number of post-consolidation shares to which they are entitled. All inquiries regarding the Consolidation or your shareholder account should be directed to TSX Trust at tel.: 1-866-600-5859 or by email to: [email protected]. No Letter of Transmittal needs to be executed in relation to the Consolidation. Until surrendered, each certificate representing the pre-Consolidation common shares will be deemed for all purposes to represent the number of shares to which the holder thereof is entitled as a result of the Consolidation. Shareholders who hold their shares in brokerage accounts or "street name" are not required to take any action to effect the exchange of their shares.

On June 3, 2020 AlivaMab Discovery Services, LLC, a leader in comprehensive, integrated solutions for antibody drug discovery, reported a discovery partnership with Tanabe Research Laboratories USA, Inc. (TRL, San Diego, California), an independent subsidiary of Japan-based Mitsubishi Tanabe Pharma Corporation. ADS will provide its expertise and capabilities to generate and deliver therapeutic antibody candidates to TRL using the AlivaMab Mouse, a best-in-class antibody discovery platform (Press release, AlivaMab Discovery Services, JUN 3, 2020, View Source [SID1234560815]).

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"The proven expertise of ADS combined with the speed and efficiency with which AlivaMab Mouse can produce drug-quality antibodies is foundational for this collaboration" said John "Lippy" Lippincott, PhD, Vice-President of Research. "ADS has developed a track record of successfully delivering antibody drug candidates against challenging projects in a greater number and in shorter timelines than other organizations. We are pleased that TRL has entrusted ADS as a partner in using precision science to create breakthrough biological therapies."