2cureX

Ole Thastrup, Founder and Vice Chairman of 2cureX AB, commented: "The Kinled Group's investment offer arrived unexpectedly during our final stages of delisting 2cureX AB. After thorough discussions with Kinled, the 2cureX Board recognized the significant advantages of the agreed transaction. Consequently, I fully endorse the proposed transactions, confident that they will create a strong foundation for providing essential drug treatment design tools to numerous cancer patients."

The Directed Issue

The Board of Directors has today resolved on a directed share issue of 7,500,000 shares at a volume weighted average price of the preceding 10 trading days of the 2cureX share on Nasdaq First North Growth Market. The Directed Issue will be directed solely to Kinled Group (http://www.kinled.com), a Hong-Kong-based private investment company with a 30-year investment track record in life sciences. Kinled has over 60 investments in life sciences and has a broad portfolio focused on oncology and precision medicine.

The Board of Directors of 2cureX has for a long period of time worked on a solution to solve the Company’s need of working capital. It has been very clear from shareholders, as well as financial advisors after sounding the market, that a preferential rights issue would not be successful. The funding proposal from the Kinled Group opened for a directed issue and deviation from the shareholders’ preferential rights to secure funding efficiently and cost-effectively while diversifying the shareholder base.

The funds raised will be used to establish a novel commercial model aimed at providing functional precision oncology services directly to cancer patients and patient organizations. This initiative will be carried out in collaboration with the privately held 2cureX A/S.

Sale of 2cureX A/S

The Board of Directors of 2cureX has received and accepted an offer to sell its Danish subsidiary, 2cureX A/S, to a consortium comprising certain current shareholders of 2cureX AB and the Kinled Group. The sale price is set at the VWAP of 2cureX AB over the last 10 trading days, plus a 10% premium, amounting to 0.32 SEK per share.

The Board of Directors has resolved to distribute the proceeds from the sale of 2cureX A/S proportionally to all 2cureX AB shareholders.

Abort of delisting of the 2cureX share on Nasdaq First North Growth Market in Stockholm

On March 16, 2024, 2cureX AB announced its intention to delist from Nasdaq First North Growth Market in Stockholm. However, with the Directed Issue, committed capital, and the offer to sell the Danish subsidiary, the Board of Directors has resolved to not submit a delisting application instead maintain and develop 2cureX AB (publ) as a listed entity.

The takeover offer for 2cureX A/S will be presented at an Extraordinary General Meeting (EGM) scheduled for July 4, 2024. The acceptance of the offer requires more than 50% of the votes present at the EGM. The notice to the EGM will be published separately.