28 August 2019
BerGenBio ASA: Increase of share capital, exercise of share options and primary insider notification
Bergen, Norway, 28 August 2019. The Board of Directors of BerGenBio ASA (the “Company”) (OSE: BGBIO) have, to fulfil the Company’s obligations under the share option agreements and in accordance with the authorisation granted by the general meeting on 13 March 2019, resolved to increase the Company’s share capital by NOK 54,000 by issuance of 540,000 new shares. The new shares are subscribed for by option owners that wish, and are entitled, to exercise options in accordance with the Company’s option scheme. The subscription price is in accordance with the prevailing options price pursuant to the Company’s option scheme, an average NOK 8.39 per share. Options which have been exercised have been granted between 2010 and 2012 and all options will expire in 2019 if not exercised.
Out of the total number of exercised share options, 225,000 share options at an average strike price at NOK 8.15 were exercised by primary insider Richard Godfrey (CEO). Richard Godfrey has transferred his rights to receive shares resulting from the exercise of options to a third party to cover all cost related to the exercise and will keep the remaining shares from the exercise. The sales amount will be finally determined on the basis of the price subsequently obtained by the third party when selling the shares in the market. Final compensation for the transferred rights and number of shares received from the transaction will be reported when known. After exercising options, Richard Godfrey holds 1,129,284 unexercised options in the Company. As of today, Richard Godfrey holds 167,815 shares in the Company through Gnist Holding AS.
Out of the total number of exercised share options, 150,000 share options at an average strike price at NOK 8.45 were exercised by primary insider James Lorens, CSO. James Lorens has transferred his rights to receive shares resulting from the exercise of options to a third party to cover all cost related to the exercise and will keep the remaining shares from the exercise. The sales amount will be finally determined on the basis of the price subsequently obtained by the third party when selling the shares in the market. Final compensation for the transferred rights and number of shares received from the transaction will be reported when known. After exercising options, James Lorens holds 588,507 unexercised options in the Company. As of today, James Lorens holds 250,000 shares in the Company.
Out of the total number of exercised share options, 15,000 share options at an average strike price at NOK 10.62 were exercised by primary insider Endre Kjærland, Associate Director of IP and Contracts. Endre Kjærland has transferred his rights to receive shares resulting from the exercise of options to a third party to cover all cost related to the exercise and will keep the remaining shares from the exercise. The sales amount will be finally determined on the basis of the price subsequently obtained by the third party when selling the shares in the market. Final compensation for the transferred rights and number of shares received from the transaction will be reported when known. After exercising options, Endre Kjærland holds 88,525 unexercised options in the Company. As of today, Endre Kjærland holds 1,508 shares in the Company.
The capital increase is expected to be registered within 7 days, and following the issuance of the new shares, the issued share capital of BerGenBio ASA will be NOK 6,107,659 consisting of 61,076,590 shares, each with a par value of NOK 0.10.
-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).
