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Clavis Pharma Raises NOK 129 Million (USD 20 Million) in a Private Placement to Fund Further Development of its Pipeline of Novel Anticancer Drug Candidates
Date:6/26/2009

l of which is expected mid July 2009.

The Board of Directors will propose to the EGM to conduct a subsequent offering of up to 650,000 new shares (corresponding to 6% of the Private Placement) at NOK 12.00 per share directed towards shareholders in Clavis Pharma as of 25 June 2009 (as documented by the shareholder register in the VPS as of 30 June 2009) that were not allocated new shares in the Private Placement. Consequently, the shares in the Company will trade excluding the right to participate in the subsequent offering from today, 26 June 2009.

For further information on the proposed resolutions to be passed by the EGM, reference is made to a separate announcement to be issued by Clavis Pharma.

About Clavis Pharma

Clavis Pharma ASA is an oncology focused pharmaceutical company using its proprietary Lipid Vector Technology (LVT) platform to create New Chemical Entities (NCEs), by significantly improving already established drugs. The improvements are achieved by chemically binding specific unsaturated lipids to existing, and well understood, approved pharmaceuticals. Data generated suggests the resulting patentable NCEs offer improved efficacy and reduced side effects through enhanced pharmacokinetic properties, greater tissue penetration and, in many cases, additional modes of action.

Clavis Pharma's objective is to develop its drug candidates until significant value has been created and proof of principle in man has been shown. For further clinical development and commercialisation of the products, Clavis Pharma will enter into strategic partnerships with established pharmaceutical or biotech companies. The company's product portfolio includes four new cancer drugs: Elacytarabine is in Clinical Phase II, Intravenous CP-4126 is in Clinical Phase I, Oral CP-4126 in Phase I, and CP-4200 is in early preclinical development. Results indicate that these products have promisi
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SOURCE Clavis Pharma ASA
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