BERLIN–(BUSINESS WIRE)–Regulatory News:
NOXXON Pharma N.V. (Paris:ALNOX) (Euronext Growth Paris: ALNOX), a biotechnology company focused on improving cancer treatments by targeting the tumor microenvironment (TME), announced that it has received a final exercise notice from Acuitas Capital, LLC, who have converted the last of their warrants to shares. As a result of this conversion Acuitas will no longer hold any warrants.
The warrants were issued in connection with the company’s €6.2 million equity capital raise on November 16, 2018. Details of the transaction can be found in the associated press release.
“The investment by Acuitas in 2018 allowed NOXXON to further advance its clinical pipeline, in particular the NOX-A12 trial in heavily pretreated metastatic pancreatic and colorectal patients. Since this time, NOXXON management was successful in pursuing financing vehicles outside of long-term warrants or options. Following the completion of this final exercise, the company’s capital structure becomes clearer and more defined and thereby better facilitates other investment opportunities. We are confident that this step, along with the recent market activity will be encouraging to our long-term equity investors and NOXXON shareholders,” said Aram Mangasarian, CEO of NOXXON.
NOXXON’s oncology-focused pipeline acts on the tumor microenvironment (TME) and the cancer immunity cycle by breaking the tumor protection barrier and blocking tumor repair. By neutralizing chemokines in the tumor microenvironment, NOXXON’s approach works in combination with other forms of treatment to weaken tumor defenses against the immune system and enable greater therapeutic impact. Building on extensive clinical experience and safety data, the lead program NOX-A12 has delivered top-line data from a Keytruda® combination trial in metastatic colorectal and pancreatic cancer patients and further studies are being planned in these indications. In September 2019 the company initiated an additional trial with NOX-A12 in brain cancer in combination with radiotherapy. The combination of NOX-A12 and radiotherapy has been granted orphan drug status in the US and EU for the treatment of certain brain cancers. The company’s second clinical-stage asset NOX-E36 is a Phase 2 TME asset targeting the innate immune system. NOXXON plans to test NOX‑E36 in patients with solid tumors both as a monotherapy and in combination. Further information can be found at: www.noxxon.com
Keytruda® is a registered trademark of Merck Sharp & Dohme Corp
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