14 April 2020
BerGenBio ASA: Share option grant
Bergen, Norway, 14 April 2020 – The board of directors in BerGenBio ASA (the “Company”) (OSE:BGBIO) has granted options to employees.
The annual general meeting in the Company at 16 March 2020 approved the share options program and authorised the board of directors of the Company to issue share options to the Company’s employees as part of a long-term incentive plan.
Options granted under the share option program vest over a three-year period and each option, when exercised, will give the right to acquire one share in the Company at exercise price. Options granted under the share option program expiry eight years after grant date.
A total of 2,026,663 share options, equal to 2.76% of total shares issued in the Company, were granted at an exercise price at NOK 15.00 constituting the average traded price at OSE between 24 March and 7 April.
Of the total grant the following was granted to primary insiders (total holdings of share options following this grant):
Richard Godfrey – CEO: 413,333 (1,542,617)
James B. Lorens – CSO: 178,533 (767,040)
Hani Gabra – CMO: 208,000 (208,000)
Rune Skeie – CFO: 146,667 (242,757)
James Barnes – Director of Operations: 178,000 (237,400)
Gro Gausdal – Director of research: 66,667 (158,376)
Alison Messom – Director of Clinical operations: 108,000 (108,000)
Endre Kjærland – Associate Director of IP and Contracts: 62,000 (150,525)
In total 1,361,200 share options were granted to primary insiders.
Following this grant a total of 4,552,060 share options are issued, equal to 6.21% of the total shares issued in the Company. Of this 1,679,611 share options are vested and 2,872,449 not vested.
-End-
Contacts
Richard Godfrey
CEO, BerGenBio ASA
ir@bergenbio.com
+47 917 86 304
Rune Skeie
CFO, BerGenBio ASA
rune.skeie@bergenbio.com
+47 917 86 513
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About Oncoinvent
Oncoinvent is developing Radspherin®, a receptor-independent alpha radiation therapy that leverages the unique anatomy of the abdominal cavity to destroy residual micrometastases using a single, highly localized dose of alpha radiation. The initial clinical focus is treatment of ovarian and colorectal cancer patients after surgical removal of the primary tumor and visible metastases in the peritoneum, the thin membrane lining the abdominal cavity and covering the abdominal organs.
This radiopharmaceutical is designed to prevent or delay recurrence in the peritoneal cavity, keeping patients disease-free for longer than the current standard of care and thereby also impacting overall survival. It is broadly applicable to any cancer that spreads to the peritoneum, e.g. ovarian, colorectal, and gastric cancers. Radspherin® stands out for its simplicity, excellent safety profile, and seamless integration into existing surgical workflows. Oncoinvent’s product is easy to use, avoids systemic delivery and significant toxicity. It is also differentiated in being simple to manufacture, scalable, and supply de-risked.
Data from two trials in ovarian (phase 1) and colorectal (phase 1/2a) cancers, are highly promising, showing an excellent safety profile and meaningful signals of efficacy. Interim data from an ongoing, randomized, controlled phase 2 ovarian cancer trial is expected in 2026. With cost-effective manufacturing, blockbuster potential, active pharma partnership momentum, plus strong endorsements from leading experts, Oncoinvent is built for scale and commercial success, and is set to become the new standard for post-surgical cancer care. The Company was founded by the originators of Algeta and Xofigo (acquired by Bayer).
