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Cyxone signs acquisition agreement for candidate drug in Phase 2 Cyxone can announce today that the company has signed an agreement pertaining to the exclusive rights to acquire the clinical candidate drug Rabeximod from OxyPharma AB. The transaction has been structured so as to minimise the impact on Cyxone's cash flow by offering the seller 1,916,372 shares, (one million, nine hundred and sixteen thousand, three hundred and seventy two shares amounting to a dilution of 12.5 per cent), as well as royalty rights amounting to ten (10) per cent of future net earnings from Rabeximod. Cyxone will call an extraordinary general meeting to seek shareholder approval for a directed new share issue. This will pave the way for the acquisition and a Phase 2b-study in rheumatoid arthritis.
Cyxone AB and the University of Queensland in Australia are launching a co- operation agreement to continue studies into the effects of Cyxone's T20K development substance in combating MS.
Cyxone can announce today that it has established a long-term strategic co-operation agreement with Sourcia, a clinical contract research organization (CRO) with offices in Belgium, Germany, and the Netherlands.
- Operating revenue KSEK 0 (0)
- Income after financial items KSEK -1491 (-307)
- Earnings per share -0,10 (-0,04) SEK
- Cash and cash equivalents (2017-03-31) 31 275 (4 114) KSEK
- Equity ratio 98,2 (97,8) % as of 2017-03-31
Since 2016, Cyxone AB and Swiss pharmaceutical manufacturer Bachem AG have worked closely on the production of syntheses of Cyxone's development substance T20K, and on the production of substances for studies that started last year.
Cyxone can announce today that an independent research group at Monash University in Australia has confirmed the positive effects of the company's development substance T20K on multiple sclerosis (MS) symptoms in animal models as previously described.
Today, Cyxone announce that they will acquire the entire family of patents protecting the Company's main candidate T20K, from the Medical University of Vienna. The cost of € 100,930 includes VAT and corresponds to the costs of the patenting process.
Cyxone announce that T20K demonstrates no measurable toxic effect in mice after oral administration of up to 100 mg/kg in a single dose. Even at an oral dose of 250 mg/kg, half of the animals recovered well after treatment. Low toxicity of injected T20K has previously been reported by Cyxone.
The US Patent Office has announced its approval of Cyxone's patent on the cyclotide technology.