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Press Release

RhoVac's co-founder and board member sells a fraction of his shares to cover taxes on holdings

Dec 15, 2021

RhoVac AB (“RHOVAC”) announces today, 15th December, that co-founder and board member Anders Ljungqvist has sold 112 700 shares in RhoVac AB. This transaction corresponds to approximately 7.8% of his total shareholding. The proceeds from the sales will exclusively be used to pay Danish capital gains tax on Mr. Ljungqvist’ s shares in RHOVAC. Mr. Ljungqvist remains a member of the board of directors, with a long-term interest in the company. Mr. Ljungqvist retains 1 327 525 shares after the sale.

RhoVac CEO, Anders Månsson, comments: “As a founder, Mr. Anders Ljungqvist has obviously experienced a substantial growth in the value of his RhoVac shareholding. It is for this increase in value that he must now pay taxes in Denmark, even though there is no realisation of the value. To be able to do so Mr. Ljungqvist has had to sell off a fraction of his shares in a brokered transaction. Mr. Ljunqvist informs me that he now aims to keep the rest of his shares until the company reaches the desired transaction on RV001.”      

On RhoVac AB
RhoVac was established as a private company in Denmark in 2007. Under this company, the basic development steps for the drug candidate onilcamotide were undertaken. In 2015 the Swedish RhoVac AB was formed, which is now headquartered and in 2016 the company was listed on the then Aktietorget in Sweden (now Spotlight Stock Market). RhoVac has passed the early stages of development. In 2018, the first clinical trial (phase I / II) was completed in prostate cancer, demonstrating that onilcamotide has good safety and is well tolerated, and that the drug provides the expected immune response that will exert its effect on the cancer cells. The strong immune response has also been shown to last over time. Therefore, RhoVac has launched a clinical phase IIb trial that will include at least 180 prostate cancer patients. The study will close in the first half of 2022, and it is designed to show, with statistical significance, the effect of RV001 in preventing disease progression in prostate cancer after surgery or radiation to the primary tumour. RhoVac is listed on Spotlight, Sweden, a Multilateral Trading Facility (MTF) since March 2016. The share is traded under the ticker RHOVAC. Read more at www.rhovac.com.

On BraVac
BRaVac is a randomized, placebo controlled and double-blind study, with the primary objective of evaluating if treatment with the drug candidate RV001 can prevent or limit the development of advanced prostate cancer after curative intent treatment. The clinical phase IIb study is an international, multi-centre study, which will recruit over 180 patients in six European countries (Denmark, Finland, Sweden, Belgium, Germany, and United Kingdom) and the US.