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Latest news regarding Oncoinvent AS

12th August 2016:
New board members at Oncoinvent AS

The extraordinary General Assembly of Oncoinvent convened at July 28th unanimously decided to elect Ludvik Sandnes and Jónas Einarsson as new members of the Board of Directors.

Ludvik Sandnes has more than 40 years of experience from international corporate finance, asset management and investment banking from Norfund, The Royal Bank of Scotland, BDO Noraudit, PwC Financial Advisors, Christiania Bank, UNI Storebrand, Orkla Borregaard, Den Norske Creditbank and Statoil. Current board positions include: Nordic Nanovector (chairman). Oslo Cancer Cluster, IC-T AS, Pre Diagnostics AS, Pioner Fonds AS and Godthaab Helse og Rehabilitering. He has a Bachelor of Commerce and a degree as Certified European Financial Analyst (AFA) from the Norwegian School of Economics and Business Administration, NHH.

Jónas Einarsson is Chief Executive Officer of the Radium Hospital Research Foundation (RF).  RF is an experienced pre-seed investor and project developer focused on cancer. Einarsson was one of the initiators behind Oslo Cancer Cluster and the Oslo Cancer Cluster Innovation Park. Jónas Einarsson serves on the board of Targovax (chairman), Ultimovacs and Biomolex.

The General Assembly further released Dr. Øyvind Bruland from his duties at the Board.  Bruland will continue to serve as key member of the team at Oncoinvent and enter the position as CMO. As such he will be leading the ongoing preparations for the first clinical trial with Oncoinvent’s lead product candidate Radspherin.

The extraordinary general assembly also approved the private placement of 34 400 new shares. The placement completes the oversubscribed share issue of May 2016.  The total number of shares after this placement will be 775 100, pending for registration in The Register of Business Enterprises.

20th May 2016:
Oncoinvent AS announces successful closing of NOK 15 million in a private placement

Oncoinvent AS has successfully completed a private placement. The share offering was directed towards Oncoinvent’s existing shareholders and a limited number of private investors. The issue was oversubscribed and will provide NOK 15 mill. to Oncoinvent, net of transaction costs.

The proceeds will be used to build manufacturing capacity for the clinical development program of the company’s lead compound, a new alpha-therapeutic designed for local treatment of micrometastases. Oncoinvent will further use the funds made available through the transaction to expand its activities and acquire the additional human resources required for preparations of its first clinical trial.

A total of 48 investors participated in the issue. The total number of shares after the Board of Directors allocated new shares at its meeting at May 19th will be 740 700, pending for registration in The Register of Business Enterprises.

Technology

Oncoinvent AS is developing therapeutics
to combat various cancers.

The principle

Delivery of tumor-cell killing doses of radiation is the main mechanism of the products of Oncoinvent AS. Radioisotopes are combined with carriers for optimal delivery of injected doses for treatment of cancers.

Product Candidates

Oncoinvent AS is developing novel product candidates for cancer treatment. The company is conducting preclinical documentation studies of the therapeutic candidates. In 2015, Radspherin, a new alpha-emitting product for treatment of cancers with metastases in body cavities, was selected as the lead product candidate of the company.

Funding

The Research and Development activities of Oncoinvent AS are funded by private investors and grants from Innovation Norway, Oslo Cancer Cluster and The Norwegian Research Council.

Collaboration

Oncoinvent AS is interested in strategic collaboration and partnership regarding lead optimization, including co-development, out-licensing, etc.

Management & Team

Tina Bjørnlund Bønsdorff

Tina Bjørnlund Bønsdorff
Chief Executive Officer (CEO)

Dr. Tina B. Bønsdorff has more than 15 years of experience in molecular biology. She has Ph.D. and postdoctoral experience from the Norwegian School of Veterinary Science, where she worked in the field of gene identification, expression and mutation analysis. Her postdoctoral research was focused on gene expression analysis of early neoplastic lesions in dog with inherited cancer syndromes. Dr. Bønsdorff is one of the founders of Oncoinvent AS (2010). Dr. Bønsdorff was the Chief Scientific Officer of Oncoinvent AS from the start-up until August 2013, and she has been the CEO of the company since August 2013.

Øyvind Sverre Bruland

Øyvind Sverre Bruland
Chief Medical Officer (CMO)

Dr. Øyvind S. Bruland is a MD, Ph.D. and professor of Clinical Oncology, Faculty of Medicine, University of Oslo and senior consultant oncologist at Dept. of Oncology, Oslo University Hospital. Professor Bruland founded Algeta ASA in 1997 together with Dr. Roy H. Larsen, and he was one of the founders of Nordic Nanovector AS (2009) and of Oncoinvent AS (2010). Øyvind S. Bruland was a member of the board of Oncoinvent AS from 2010 to 2016. Professor Bruland has supervised a high number of Ph.D. students, and his main clinical experience and research has been devoted to primary bone and soft tissue cancers (sarcomas).

Sara Westrøm

Sara Westrøm
Research Scientist

Sara Westrøm has a Master of Science in Nanotechnology from the Norwegian University of Science and Technology, with a study specialization in Bionanotechnology. Her master's thesis work was carried out as a part of the research project: “Multifunctional Nanoparticles in Cancer Diagnosis and Therapy” in the Medical Physics and Technology research group.

Board of Directors

Roy Hartvig Larsen

Roy Hartvig Larsen, PhD
Chairman

Dr. Roy H. Larsen has a Ph.D. and postdoctoral experience in radiopharmaceutical chemistry from University of Oslo, Norway and Duke University, USA, respectively. Dr. Larsen has long experience within drug development and business. He was the main founder of Algeta ASA (founded in 1997, acquired by Bayer in 2014), and he served as Managing Director and later Chief Scientific Officer in Algeta ASA from 1997–2006, where he also was a board member from 1997-2003. He is also one of the founders of Nordic Nanovector AS (2009), and Oncoinvent AS (2010). Roy H. Larsen was chairman of the board in Nordic Nanovector from 2009 to 2014, and a member of the board until 2016. Dr. Larsen works as a consultant and founder through Sciencons AS.

Thóra Johanna Jónasdóttir

Thóra Johanna Jónasdóttir, DVM, PhD
Board member

Dr. Thóra J. Jónasdóttir is a DVM, with Ph.D. and postdoctoral research experience within cancer and clinical trials in mouse models and dogs with spontaneous cancers. Dr. Jónasdóttir was the CEO of Oncoinvent AS from the start-up in 2010 to August 2013, along with a part position at the Norwegian University of Life Sciences as head of the canine cancer research group (until 2015) and as a supervisor of Ph.D. students. Since August 2013 she has worked as the Veterinary Officer for Pet Diseases and Animal Welfare at Icelandic Food and Veterinary Authority. Dr. Jónasdóttir is one of the founders of Oncoinvent AS (2010).

Jónas Einarsson

Jónas Einarsson, MD
Board member

Dr. Jónas Einarsson is Chief Executive Officer of the Radium Hospital Research Foundation (RF). RF is an experienced pre-seed investor and project developer focused on cancer. Dr. Einarsson was one of the initiators behind Oslo Cancer Cluster and the Oslo Cancer Cluster Innovation Park. Jónas Einarsson serves on the board of Targovax (chairman), Ultimovacs and Biomolex.

Ludvik Sandnes

Ludvik Sandnes
Board member

Ludvik Sandnes has more than 40 years of experience from international corporate finance, asset management and investment banking from Norfund, The Royal Bank of Scotland, BDO Noraudit, PwC Financial Advisors, Christiania Bank, UNI Storebrand, Orkla Borregaard, Den Norske Creditbank and Statoil. Current board positions include: Nordic Nanovector (chairman), Oslo Cancer Cluster, IC-T AS, Pre Diagnostics AS, Pioner Fonds AS and Godthaab Helse og Rehabilitering. He has a Bachelor of Commerce and a degree as Certified European Financial Analyst (AFA) from the Norwegian School of Economics and Business Administration, NHH.

Alliances and partnering

Oncoinvent AS is co-located with Nordic Nanovector and Sciencons AS at Kjelsås, Oslo, Norway. The company is collaborating with the Norwegian University of Life Sciences, Oslo University Hospital and the University of Oslo. Oncoinvent AS has both national and international partners for the preclinical development of their product candidates.