Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
OncoZenge AB (publ) ("OncoZenge" or the "Company") has today received confirmation that the State Administration of Foreign Exchange (SAFE) has completed its review of the investment agreement entered into by the Company and Sichuan-Yangtian Biopharmaceuticals Co, Ltd ("Yangtian Pharma" or the "Investor") on January 27th, 2025.
On January 27th the Company announced the intention to partner with Yangtian Pharma as a new strategic investor in the Company, by entering into an investment agreement that through four tranches of directed share issues to Yangtian Pharma will provide the financing for the phase 3 trial for BupiZenge™ targeting European market approval. The investment is conditional on customary regulatory approvals, through a shareholder resolution in Sweden granted on March 3rd and granted at the Annual General Meeting on May 28, and the successful completion of the mandatory Overseas Direct Investment (ODI) process in China. NDRC approval was received on May 12, 2025 and Department of Commerce approval on June 5, 2025.
The Company has received notice that the State Administration of Foreign Exchange (SAFE) has completed its review and instructed the authority's delegated bank, China CITIC Bank, to complete the registration required for foreign exchange transfers. The registration process includes customary steps such as KYC and AML controls, and is expected to be completed in the coming days.
Following successful amendments by Yangtian Pharma and OncoZenge, the delegated bank has confirmed that Tranche 1 and Tranche 2 of the Investment Agreement may be transacted simultaneously. As soon as the Company receives confirmation the foreign exchange registration is complete, OncoZenge's board of directors will convene to resolve on a directed share issue to the Investor corresponding to Tranche 1 and Tranche 2 in accordance with the investment agreement.
BupiZenge™ - Potential to be the leading treatment for oral pain.
For additional information, please contact:
Stian Kildal, CEO, mobile: +46 76 115 3797, e-mail: stian.kildal@oncozenge.se
Certified Adviser
OncoZenge's Certified Adviser is Redeye AB.
OncoZenge AB
Gustavslundsvägen 34, 167 51 Stockholm, Sweden
About this release
The information in this release was submitted for publication, through the agency of the contact persons set out above, at 08:00 CEST on June 27, 2025.
About OncoZenge
OncoZenge is dedicated to developing an innovative, effective, and well-tolerated treatment for oral pain in conditions where current options fall short, often due to insufficient pain relief or significant side effects. BupiZenge™ is a novel oral lozenge formulation of bupivacaine, a local anesthetic with decades of clinical experience. The lead indication for BupiZenge™ is oral pain caused by oral mucositis, an inflammatory condition affecting millions of cancer patients. Oral mucositis leads to severe physical and psychological distress, representing a significant unmet medical need for an effective, opioid-sparing treatment. In Phase 2 trials, BupiZenge™ demonstrated substantially better pain relief compared to the standard of care.
OncoZenge is headquartered in Stockholm, Sweden, and is publicly traded on Nasdaq First North Growth Market under the ticker ONCOZ.