The board of directors of Kancera has resolved on a new share issue with preferential rights for the company’s existing shareholders of approximately SEK 121.9 million.
The objective of the Rights Issue is to secure resources to advance the company’s development program, consisting of the candidate drugs KAND567 and KAND145, to start of new clinical studies, including a study in cardiovascular disease, states the company.
“With the positive top line results from the FRACTAL study, Kancera is very well positioned for its continued company transformation and value building. Based on the top line results, we see a significant potential for our anti-inflammatory fractalkine blockers to provide a new drug therapy that may reduce the risk of mortality for myocardial infarction patients undergoing acute percutaneous coronary intervention. The planned rights issue will enable Kancera to advance our clinical development program, including initiating time-critical development and manufacturing activities in order to start a pivotal study, activities that will be conducted in parallel with our work to establish a partnership for the commercialization of our candidate drugs,” says Peter Selin, CEO of Kancera AB.
A license agreement with the University of Newcastle
Kancera has also reported that the company has signed a license agreement with the University of Newcastle. Through this agreement, Kancera is granted the exclusive global commercial rights to the results from the FRACTAL study, including full ownership of a new clinical use patent.
Kancera is developing two fractalkine blocking drug candidates, KAND567 and KAND145, that are currently being studied in three ongoing clinical trials:
In consideration of the granted rights, Kancera will pay a one-off fee to the University of Newcastle. Kancera further announces that a patent application has been filed, which covers the use of KAND567 and KAND145 for treatment of myocardial infarction. Through the executed license agreement, Kancera assumes full ownership of this patent application. The term of this clinical use patent, if granted, will run to 2044.
Photo of Peter Selin: Kancera
