21 November 2023
BerGenBio ASA Mandatory notification of trade by primary insiders and close associates
Bergen 21 November 2023 – Reference is made to the stock exchange announcement published by BerGenBio ASA (the “Company”) on 15 June 2023 regarding the allocation of offer shares and warrants (the “Warrants”) to certain primary insiders and close associates of primary insiders of the Company in connection with the June 2023 rights issue completed pursuant to a resolution by the Company’s annual general meeting on 22 May 2023. Reference is further made to the Company’s stock exchange announcement published on 15 November 2023 regarding the commencement of the first exercise period for the Warrants. Each Warrant gives the holder a right to subscribe for one new share (“New Share”) in the Company. The Warrants are listed and tradable on the Oslo Stock Exchange until 16:30 hours (CEST) on 8 April 2024 under the ticker code “BGBIS”.
Today, the Company has been informed that the following primary insiders and close associate has exercised all their respective Warrants on 20 November 2023:
- Martin Olin (CEO): 1,000,000 Warrants, for the allocation of 1,000,000 New Shares in the Company at a price per New Share of NOK 0.13.
- Rune Skeie (CFO): 129,595 Warrants, for the allocation of 129,595 New Shares in the Company at a price per New Share of NOK 0.13.
- Anders Tullgren (chairman): 704,910 Warrants, for the allocation of 704,910 New Shares in the Company at a price per New Share of NOK 0.13.
- Sally Bennett (board member): 157,413 Warrants, for the allocation of 157,413 New Shares in the Company at a price per New Share of NOK 0.13.
- Debra Barker (board member): 155,513 Warrants, for the allocation of 155,513 New Shares in the Company at a price per New Share of NOK 0.13.
- Svev AS (company wholly owned by board member Sveinung Hole): 1,000,000 Warrants, for the allocation of 1,000,000 New Shares in the Company at a price per New Share of NOK 0.13.
Please see further details about the transactions in the attached forms.
The New Shares issued upon exercise of Warrants will be listed on the Oslo Stock Exchange under ISIN NO 001 0650013 and ticker code “BGBIO”. The New Shares will be listed as soon as the New Shares have been registered in the VPS and the Company has published a prospectus in relation to the listing of the New Shares, approved by the Norwegian Financial Supervisory Authority (the “NFSA”).
The New Shares may not be transferred or traded before they are fully paid, and the New Shares will, if required, be placed on a separate ISIN pending approval and publication of the listing prospectus for the New Shares.
Subject to timely payment of the subscription price for the New Shares on 4 December 2023, the Company expects the share capital increase pertaining to the exercise of Warrants to be registered with the Norwegian Register of Business Enterprises on or about 6 December 2023 and that the New Shares will be delivered to the VPS accounts of the subscribers to whom they are allocated on or about 7 December 2023.
This information is subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and 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).
