Biovica successfully raise sek 30 million in an oversubscribed issue of new shares

Biovica has successfully managed to ensure funds to deliver on the company’s business plan. Together with its financial advisor, Vator Securities, SEK 30 million have been raised in an oversubscribed issue of new shares.
Biovica has developed a blood test for the rapid and reliable evaluation of therapy efficacy in patients with advanced cancer. The first application of the company’s test, DiviTum™, is evaluation of the efficacy of specific treatments in advanced breast cancer. The aim is to give physicians more supporting data in order to optimize treatment outcome for patients.

A new class of drugs called CDK-inhibitors, such as Ibrance (palbociclib, Pfizer) can be used to treat up to 75 percent of all patients with advanced breast cancer (Ibrance is currently approved in the US and is expected to soon be approved in the EU). However, about 50 percent of treated patients do not respond to treatment with Ibrance. Rapid evaluation of treatment efficacy and early identification of resistance to a drug enable physicians to replace ineffective treatments with other cancer drugs for optimal patient outcome.

12 clinical studies demonstrate the ability of DiviTum™ to perform as a prognostic, predictive and response monitoring assay in cancer patients with solid tumors. The company has ten additional ongoing clinical trials with a number of international partners; the Dana Farber Cancer Institute, the Breast International Group (BIG), which brings together over 50 international breast cancer research groups, the International Breast Cancer Study Group (IBCSG) who are pioneers in the study of breast cancer treatment, and the Karolinska Institute. More than 20,000 patient samples have been analyzed with the DiviTum™ technology, including studies by one of the largest pharmaceutical companies.

“Biovica is a truly exciting company with great potential, both in economic terms and the benefits its products can bring to cancer patients during treatment. Vator Securities has enjoyed working with Biovica and there has been considerable interest from investors to participate, resulting in an oversubscribed issue of shares in a short time.” says Homan Panahi, CEO Vator Securities.

“This successful issue of new shares is an important step in the execution of our business plan which aims to establish DiviTum as a unique test for evaluation of targeted cancer therapies. There is a great need for new assays in this area. Biovica’s vision is to provide innovative approaches in order to enable cancer patients to receive the best possible treatment.” – Anders Rylander, CEO Biovica

FACTS ABOUT BIOVICA AND DIVITUM™

Biovica is a bio-diagnostic company focused on providing improved diagnostics, predictive data and monitoring of cancer patient under treatment. Biovica has developed DiviTum™, a highly sensitive assay for measuring cell proliferation. Since one of the most fundamental characteristics of cancer is uncontrolled and increased cell growth, DiviTum™ enables valuable prediction capability and monitoring of compounds regulating cell proliferation and the cell cycle. Biovica is ISO 13485 certified for Quality Management Systems and DiviTum™ is CE labeled and MPA registered.

CONTACT

Anders Rylander, CEO
Direct +46 (0) 18 44 44 835
E-mail anders.rylander@biovica.com

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2017-01-03T10:45:27+00:00 June 20th, 2016 11:45|Press Release|