2 September 2019
BerGenBio ASA: Primary insider notification
Bergen, Norway, 2 September 2019.
BerGenBio ASA (the”Company”) (OSE: BGBIO). Reference is made to the stock exchange notice dated 28 August 2019 and primary insiders exercise of share options which expire in 2019.
Primary Insider Richard Godfrey (CEO) exercised 225,000 options equal to 225,000 shares. To cover costs related to the exercise, Richard Godfrey transferred his rights to receive shares resulting from the exercise of options to a third party. A total of 177,366 shares were sold at an average price of NOK 13.94 and Richard Godfrey received the remaining 47,634 shares. Following the transaction, Richard Godfrey holds 215,449 shares in the Company through Gnist Holding AS and holds 1,129,284 unexercised options in the Company.
Primary Insider James Lorens (CSO) exercised 150,000 options equal to 150,000 shares. To cover costs related to the exercise, James Lorens transferred his rights to receive shares resulting from the exercise of options to a third party. A total of 119,961 shares were sold at an average price of NOK 13.94 and James Lorens received the remaining 30,039 shares. Following the transaction, James Lorens holds 280,039 shares in the Company and holds 588,507 unexercised options in the Company.
Primary Insider Endre Kjærland (Associate Director of IP and Contracts) exercised 15,000 options equal to 15,000 shares. To cover costs related to the exercise, Endre Kjærland transferred his rights to receive shares resulting from the exercise of options to a third party. A total of 13,246 shares were sold at an average price of 13.94 and Endre Kjærland received the remaining 1,754 shares. Following the transaction, Endre Kjærland holds 3,262 shares in the Company and holds 88,525 unexercised options in the Company.
-End-
Contacts
Richard Godfrey
CEO, BerGenBio ASA
+47 917 86 304
Rune Skeie
CFO, BerGenBio ASA
rune.skeie@bergenbio.com
+47 917 86 513
Forward looking statements
This announcement may contain forward-looking statements, which as such are not historical facts, but are based upon various assumptions, many of which are based, in turn, upon further assumptions. These assumptions are inherently subject to significant known and unknown risks, uncertainties and other important factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this announcement by such forward-looking statements.
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).
