2017 Q1 report, January-March for Panion Animal Health

Q1 January-March

  • Net sales: kSEK 0 (0).
  • Operating profit: kSEK -1 267 (-).
  • Earnings per share: SEK -0,11 (-). 
  • Liquidity at the end of the period: kSEK 102 (582).

Significant events after the end of the period:

  • A shares emission running from 8 - 26 May has been successfully finalized.
  • A Letter of Intent has been signed with GeneQuine Biotherapeutics GmbH.
  • Annual Meeting was held 27/4 - the minutes and decisions are published on Panion's website.

CEO statement

During the first quarter of 2017, we have consolidated and prepared Panion for the exiting times ahead. The Board and the Management have settled in and are actively pushing forward our business plan. The procedures and development plans have matured and the company has been made ready to be listed on a market place. A small directed emission of shares facilitated this process.

At the time of writing this report, the emission of new shares to existing and new shareholders has just been finalized with a very satisfying result.

9% of Panions existing shareholders decided to increase their share holdings and in addition Panion managed to attract significant interest from new investors. After the share issue there are 1247 shareholders in Panion and with the new funds of MSEK 7,4 from the share issue, Panion is now well capitalized for the coming 12-18 months. The emission was successfully handled with the qualified assistance of our financial advisors from Regin Corporate Finance in Stockholm.

We have in Q1 continued the work on the epilepsy product for dogs in cooperation with CombiGene AB. Epilepsy in dogs is serious disease that affects millions of family dogs across the world and for which medicine is not effective in approximately 30% of cases. We want to develop an effective gene therapy treatment that can alleviate or eliminate the scary and unpleasant seizure attacks and improve the quality of life for these dogs and their owners. The license agreement that we have with CombiGene is now fully operational with a service and supply agreement connected to it. The Board has evaluated the market potentials and opening the process in USA will be the first move towards the realization of the potential of this very interesting product. A US office is established and our US agent in place for the FDA-procedures to progress smoothly. Moreover, we have two US-based specialized consultants connected to Panion and they are ready to help us move forward with the clinical development and approval of the epilepsy product for dogs.

In the meantime, we have continued the search for more in-licensing opportunities. The business model where we develop and commercialize the animal assets of new medicinal projects from the human field, remains the promising core of our strategy. Recently, the first step into a cooperation with the Germany-based company GeneQuine Biotherapeutics GmbH was taken by the mutual signing of a Letter of Intent. GeneQuine, which was established in 2012, develops gene therapy for osteoarthritis, a degenerative joint disease, in humans, horses, and dogs. They hold worldwide exclusive IP rights to specific gene therapy vectors and their use in the treatment of osteoarthritis. The Letter of Intent will facilitate discussions pertaining to a license agreement with regards to these novel veterinary medicines.

It is fantastic to see the company transform from a science based entity to a focused product development company with a clear direction, and I look forward to the coming steps and challenges.

Anja Holm,
vd, Panion Health AB

Future reporting dates
Interim Report for Q2 2017, 21 August 2017
Interim Report for Q3 2017, 21 November
Interim Report for Q4 2017, 22 February 2018

For the complete report, see attached document.

For further information, please contact:
Anja Holm, VD
Phone +45 22 94 66 00
E-mail: anja.holm@panion-animalhealth.com

More information is available at www.panion-animalhealth.com

Nerladdningsbara filer

2017 Q2 report, January-June for Panion Animal Health

Period April-June

  • Net sales: kSEK 0 (0)
  • Operating profit: kSEK -1 269 (0)
  • Earnings per share: SEK -0,10 (-).
  • Liquidity at the end of the period: kSEK 796 (582).

Period January-June

  • Net sales: kSEK 0 (0). 
  • Operating profit: kSEK -2 536 (-). 
  • Earnings per share: SEK -0,21 (-). 
  • Liquidity at the end of the period: kSEK 796 (582).

Panion acquires access to dog study

Panion has made an agreement with Copenhagen University about transfer and use of technical data from a study in dogs. 

Panion Animal Health siktar mot USA

Efter att ha tagit in nytt kapital från marknaden står veterinärmedicinbolaget Panion Animal Health AB redo att accelerera utvecklingen av sin behandlingsmetod för epilepsi hos hundar. Samtidigt förs diskussioner om en licensaffär, vilket skulle ge Panion access till en ny stor marknad.

Panion Animal Health AB sets its sights on the USA

After raising new capital, veterinary medicine company Panion Animal Health AB is now ready to ramp
up development of its treatment method for canine epilepsy. At the same time, discussions are under
way for a licensing deal that could give Panion access to a new major market.

Panion Animal Health listas på AktieTorget

Panion Animal Health AB (publ) ("Panion") har erhållit godkännande för upptagande till handel av bolagets aktie på AktieTorget. Listningen av Panion på AktieTorget är ett led i utdelningen av CombiGenes aktier i Panion till CombiGenes aktieägare. Första handelsdag för Panions aktie på AktieTorget är torsdagen den 6 juli 2017.

Panion Animal Health listed on AktieTorget

Panion Animal Health AB (publ) ("Panion") has received approval for admission to trading of its shares on AktieTorget. The listing of Panion on AktieTorget facilitates distribution of CombiGene's shares in Panion to CombiGene's shareholders. The first day of trading in Panion's share on AktieTorget is Thursday, 6 July 2017.

Omförhandlat licensavtal och information kring första handelsdag

Licensavtalet med CombiGene har under den senaste tiden omförhandlats. Det uppdaterade avtalet är nu klart och har förtydligats avseende skrivningar kring rätten för återtagande av licensen från CombiGenes sida samt ersättningsnivåer till Panion vid ett eventuellt återtagande.

Renegotiated licensing agreement and information about the first day of trade

The licensing agreement with CombiGene has recently been renegotiated. The revised agreement is now finalized and statements concerning CombiGene's entitlement to withdrawal have been reformulated. Levels of remuneration to Panion in the event of a withdrawal have also been adjusted.

Information kring handelsstart på Aktietorget

Som tidigare kommunicerats var det Panions förhoppning att handel skulle kunna inledas på AktieTorget under juni månad. Processen är dock ännu ej slutförd och handel kan därför inte inledas som planerat.

Information about trading start on Aktietorget

As previously announced, it was Panion's intention that trading in the company's shares on AktieTorget was to begin during June. The application process has not yet been completed and trading cannot therefore commence as planned.

2017 Q1 report, January-March for Panion Animal Health

Q1 January-March

  • Net sales: kSEK 0 (0).
  • Operating profit: kSEK -1 267 (-).
  • Earnings per share: SEK -0,11 (-). 
  • Liquidity at the end of the period: kSEK 102 (582).

Utfall i Panion's företrädesemission

Panion Animal Health AB (publ) ("Panion" eller "Bolaget") har slutfört den företrädesemission av aktier som beslutades med stöd av bemyndigande lämnat på bolagsstämma 27 april 2017. Teckningstiden löpte från och med 8 maj till den 26 maj 2017. Företrädesemissionen har tecknats till ca 60 % och tillför därmed Bolaget ca 7,4 MSEK före emissionskostnader.

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