“The year 2024 has been transformative for Mendus. In April, we secured an additional SEK 69M of funding via the exercise of warrants of series TO3 associated with our July 2023 financing, bringing the total funding raised in the round to SEK 386M. With significant funding in place, we moved forward in our preparations to become a late-stage clinical development company, based on the strong Phase 2 data generated with our lead product vididencel. As part of the use of proceeds, we established a large-scale manufacturing alliance with NorthX Biologics, which is essential for preparing vididencel for late-stage clinical development and commercialization. The dedicated facility for vididencel manufacturing was completed in the first half of 2024 and the implementation of large-scale production is ongoing, with first GMP production batches expected to be completed in the second half of 2025. Feedback received in the End-of-Phase 2 meeting with FDA and Scientific Advice from EMA endorsed our preparations for a registration trial in AML. During the ASH meeting in December 2024, we presented positive updated survival data of our Phase 2 trial in acute myeloid leukemia (AML), demonstrating long-term survival of the majority of patients treated with vididencel at a median follow-up of 41.8 months. Based on its potential to trigger active immunity against residual disease, resulting in durable clinical remissions and combined with a strong safety profile, vididencel is uniquely positioned as a potential novel maintenance treatment in AML. We remain committed to preparing the product for a registration trial in the same patient population as studied in Phase 2, while expanding the clinical development of vididencel in AML and additional blood-borne tumors.”

Erik Manting, Ph.D.
Chief Executive Officer

Mendus’ shareholders can request a printed copy of the Annual Report by contacting the company by e-mail, ir@mendus.com