Press release from Companies
Published: 2020-02-20 08:53:46
Scandion Oncology A/S ("Scandion Oncology" or "the Company") hereby publishes the year-end report for the period January - December 2019. The year-end report is available on the Company's website (www.scandiononcology.com). Below is a summary of the report.
Reporting January - December 2019 Reporting October - December 2019 Highlights during the period Highlights after the period CEO Nils Brünner comments According to plan, we received final approval from the Danish Medicines Agency and the Ethics Committee in Q4, 2019 and in Q1, 2020 we have initiated our first clinical Phase II trial with SCO-101 in combination with chemotherapy in patients with drug-resistant metastatic colorectal cancer. We obtained patent approval for SCO-101 from the European Patent Office in October. For the Company, the granting of this first patent is extremely important as it provides Scandion Oncology with the necessary protection and thereby secures the value of SCO-101. Passing this important milestone, Scandion Oncology is one step closer to commercializing SCO-101. It is exciting times in the development of SCO-101 as we now conduct our first Phase II study. Since almost all metastatic colorectal cancer patients who receive chemotherapy eventually experience disease recurrence, and since we annually in Denmark have more than 1,800 new cases of metastatic colorectal cancer, SCO-101 has created a lot of interest and hope among patients and physicians. Thus, we have already experienced a high level of interest in participating in our phase 2 clinical trial. I am satisfied with the current cash position of DKK 15.4 million as of December 31, 2019 together with DKK 5.0 million granted from Innovation Fund Denmark and the expected additional capital injection of SEK 12.4 million if all warrants are fully exercised in Q3, 2020. For further information regarding Scandion Oncology, please contact: Nils Brünner, CEO Phone: +45 26 14 47 08 E-mail: nb@scandiononcology.com https://scandiononcology.com/ Scandion Oncology A/S is a biotechnology company that address and tackle one of the greatest challenges in modern oncology - the effective treatment of cancer which contains chemotherapy-resistant cells or which has developed resistance to a previously prescribed cancer-fighting drug. In preclinical in vitro-studies SCO-101 restores chemotherapy sensitivity in resistant cancer cells. Moreover, in animal studies, the company's leading candidate drug, SCO-101, significantly enhances the efficacy of certain standard cancer treatments when given in combination. Scandion Oncology is now in clinical phase II trials with its lead compound, SCO-101, in patients with chemotherapy-resistant colorectal cancer. Scandion Oncology was listed on Spotlight Stock Market, Sweden in November 2018.