Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
OncoZenge AB (publ) ("OncoZenge" or "the Company") has today entered into an agreement for a bridge financing solution of SEK 7.5 million, via a convertible note with Linc AB ("Linc").
The Company has signed a binding convertible note agreement with one of its major shareholders, Linc. The convertible note encompasses a convertible loan totaling SEK 7.5 million, maturing on July 31, 2027. The convertible loan carries an annual interest rate of 8.00 percent from the time of disbursement. Interest will be capitalized until the time of repayment of the loan, or the time of a potential conversion into shares.
The Company's board of directors assesses that the convertible loan is on market terms and is entered into to create financial flexibility for the Company during the Phase 3 study for BupiZenge™. The loan can be converted into new shares via a directed issue at the lender's request, after 2026-03-01. The conversion price in a directed new issue to Linc shall be SEK 6.47. Conversion can also occur in connection with a rights issue of shares at the corresponding subscription price in the rights issue.
Through the convertible note, the Company expects to have secured liquidity beyond the readout of study results.
"With this convertible loan, we strengthen our preparedness to professionally manage timing effects for costs in our CDMO and CRO commitments. We are therefore very pleased to further strengthen our financial flexibility ahead of the start of the study. We thank Linc for their trust, and the support and responsibility they demonstrate as a long-term shareholder in OncoZenge." - Stian Kildal, CEO of OncoZenge.
BupiZenge™ - Potential to be the leading treatment for oral pain.
For additional information, please contact:
Michael Owens, CFO, mobile: +46 73 324 4988, e-mail: michael.owens@oncozenge.se
Certified Adviser
OncoZenge's Certified Adviser is Redeye AB.
OncoZenge AB
Gustavslundsvägen 34, 167 51 Stockholm, Sweden
About this release
This information is such that OncoZenge AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (MAR). The information was submitted for publication, through the agency of the contact persons set out above, at 08:50 CEST on 9 July 2025.
About OncoZenge
OncoZenge is dedicated to developing an innovative, effective, and well-tolerated treatment for oral pain in conditions where current options fall short, often due to insufficient pain relief or significant side effects. BupiZenge™ is a novel oral lozenge formulation of bupivacaine, a local anesthetic with decades of clinical experience. The lead indication for BupiZenge™ is oral pain caused by oral mucositis, an inflammatory condition affecting millions of cancer patients. Oral mucositis leads to severe physical and psychological distress, representing a significant unmet medical need for an effective, opioid-sparing treatment. In Phase 2 trials, BupiZenge™ demonstrated substantially better pain relief compared to the standard of care.
OncoZenge is headquartered in Stockholm, Sweden, and is publicly traded on Nasdaq First North Growth Market under the ticker ONCOZ.