Press release from Companies

Published: 2023-07-10 07:39:07

WntResearch AB: Implementation of incentive programmes in Wntresearch AB

The two incentive programmes for Wntresearch AB ("WntResearch" or the "Company") that were resolved by the Extraordinary General Meeting on 30 June 2023 have now been implemented. Both the Board of Directors and senior executives have subscribed to the programmes, which were subscribed to a total of 90 percent.

The Extraordinary General Meeting of the Company on 30 June 2023 resolved on two long-term incentive programmes, one for the Company's Board of Directors and one for senior executives. These programmes have now been implemented in accordance with the general meeting's decision. In warrant programme 2023/2026 for the Company's senior executives, 7,000,000 of the total 8,500,000 warrants in the programme have been subscribed for and in warrant programme 2023/2026 II for the Company's board of directors, 10,900,000 of the total 11,500,000 warrants have been subscribed for.

"Incentive programmes are important to ensure a long-term commitment in both the board of directors and management. I am very pleased that we now have such a programme in place for the company and am convinced that everyone is doing their utmost to ensure that we succeed.", says Christer Nordstedt, Chairman of the Board.

The option premium to be paid by the participants in the incentive programmes has, in accordance with the decision of the AGM, been calculated by Placing Corporate Finance AB at 3 öre per warrant. Under the terms of the incentive programmes, each warrant entitles the holder to subscribe for one (1) new share in Bola-get at a subscription price per share of SEK 1.06. Subscription of shares with the support of the warrants shall take place in accordance with the terms and conditions of the warrants from 16 September 2026 up to and including 30 September 2026. If the two programmes are fully exercised, a total of 17,900,000 new shares will be issued, which corresponds to a total dilution of approximately 5.5 percent of the Company's share capital and votes calculated on the number of shares that will be added upon full exercise of all warrants issued in connection with the warrant programmes.

For further information:

Pernilla Sandwall, VD

About Wntresearch AB 

WntResearch is developing a completely new type of cancer drug that inhibits the ability of tumour cells to spread in the body and form metastases. The company's research is focused on studying the endogenous protein WNT5A, which in scientific studies has shown to affect tumour cells' ability to move and spread in the body. WntResearch drug candidate Foxy-5 is a peptide that mimics the function of WNT5A and is intended to reduce the mobility and spread of cancer cells thus preventing metastases from occurring. Although current cancer treatment has become more effective, there are no effective ways to prevent the onset of metastases that cause about 90 per cent of all cancer-related deaths. Foxy-5 has a unique mechanism of action and has shown a good safety profile with few side effects in two Phase I clinical trials. The safety and efficacy of Foxy-5 are now being evaluated in the ongoing Phase 2 clinical trial NeoFox, in patients with stage II-III colon cancer.

WntResearch is listed on the Spotlight Stock Market. For more information, please visit: Follow WntResearch on Linked in 

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