Ribbskottet AB increases its stake in Xspray Pharma
Regulatory press release 2018-09-24
Ribbskottet AB has since Xspray’s introduction on First North in September 2017 been one of its ten largest owners. On September 24, 2018, it expanded its holding in the company through the purchase of a total of 223,000 shares. After the deal, Ribbskottet holds a total of 1,371,429 shares in Xspray, corresponding to 10.0 percent of the number of shares and votes in the company. Redeye has granted the seller an exemption from the current lock-up agreement, as the buyer enters the seller's obligations, indicating that the buyer is a suitable long-term owner of the company. The seller is Recipharm Venture Fund AB, which after the deal holds 251,838 shares in the company.
"We have been involved since the company's introduction to Nasdaq First North and have strong faith in the company. We expanded our holding just over a year ago through an acquisition from Recipharm, and are now strengthening our shareholding in the company," said Ribbskottet’s Anders Bladh.
For further information, please contact:
Per Andersson, CEO, Xspray Pharma AB (publ)
Mobile: +46 (0) 706 88 23 48
About Xspray Pharma
Xspray Pharma AB (publ) is a product development company with several product candidates in clinical development. Xspray uses its innovative patented RightSize technology to develop improved as well as generic versions of marketed cancer drugs, primarily protein kinase inhibitors (PKIs) for the treatment of cancer. The segment is the second largest in the field of oncology and drug prices are very high. Through its innovative technology, Xspray may enter the market as first competitor to the original drugs before the exclusivity from secondary patents expires. Three PKIs have been identified as the initial product candidates (HyNap-Dasa, HyNap-Sora and HyNap-Nilo) where the first product (HyNap-Dasa). Xspray's goal is to have up to seven products ready for launch in the US market, with a first product launch by 2021. The company has patented manufacturing technology, equipment and the resulting products. The company's Certified Adviser is Redeye AB, www.redeye.se.
This information is mandatory for Xspray Pharma AB to publish pursuant to the EU’s Market Abuse Regulation (MAR). This information was submitted for publication through the agency of the above contact person at the time stated above.