Gernandt & Danielsson advised Moberg Pharma on the trasanction.
The Board of Directors of Moberg Pharma AB announced its intention to distribute the operations of BupiZenge® (BUPI) to the shareholders of Moberg Pharma by distributing 90 percent of the shares in a subsidiary (name to be changed to OncoZenge AB) through a so-called Lex ASEA distribution, and convenes an extraordinary general meeting to resolve accordingly.
The business consists of developing the BUPI project under the brand name BupiZenge® for treatment of oral mucositis. Moberg Pharma estimates the capital requirement to take BupiZenge® through phase 3 at SEK 60 million.
Moberg Pharma is therefore evaluating the opportunity to distribute OncoZenge according to Lex Asea and list its shares on Nasdaq First North Growth Market. Moberg Pharma has hired Erik Penser Bank to evaluate opportunities for financing OncoZenge as a separate company.
Moberg Pharma has since 2014 been developing BupiZenge® for treatment of pain in connection with Oral Mucositis (“OM”). Globally, around 5 million people suffer from OM after cancer treatment. OM is an inflammation of the mucous membranes in the mouth and throat, which results in painful ulcers. OM is considered the most debilitating side effect of radiation therapy and chemotherapy and commonly occurs. After radiation therapy in the head and neck region, 90 percent of patients develop OM, and of the patients who are treated with chemotherapy around 30 percent are affected. OM causes severe pain, difficulty to swallow and talk, and can lead to interruptions in cancer treatment as well as increased health care costs.
Moberg Pharma AB is a Swedish pharmaceutical company focused on commercializing proprietary innovations based on drug delivery of proven compounds. The company’s main asset, MOB-015, is a novel topical treatment for onychomycosis, with recently completed phase 3 trials in more than 800 patients. The pipeline also includes the late-stage asset BUPI for pain relief in oral mucositis. Clinical data generated for both assets indicate they have the potential to become market leaders in their respective niches. Moberg Pharma is headquartered in Stockholm and the company’s shares are listed on the Small Cap list of the Nasdaq Stockholm (OMX: MOB).
OncoZenge AB is a Swedish pharmaceutical company founded in 2020 through a spin-off from Moberg Pharma AB in collaboration with leading clinicians from Hvidovre Hospital in Denmark. OncoZenge develops better products for supportive care of cancer patients. Preparations are underway for phase 3 of BupiZenge®, after leading phase 2 data for pain relief in patients with oral mucositis.
Gernandt & Danielsson team consisted of Partner Mikael Borg (Picture), Jonas Hämälä, Fredrik Haräng, Jonathan Antonsson, Josefin Törnlöf and Ludvig Eriksson.
Involved fees earner: Jonathan Antonsson – Gernandt & Danielsson Advokatbyrå KB; Mikael Borg – Gernandt & Danielsson Advokatbyrå KB; Ludvig Eriksson – Gernandt & Danielsson Advokatbyrå KB; Fredrik Haräng – Gernandt & Danielsson Advokatbyrå KB; Jonas Hämälä – Gernandt & Danielsson Advokatbyrå KB; Josefin Törnlöf – Gernandt & Danielsson Advokatbyrå KB;
Law Firms: Gernandt & Danielsson Advokatbyrå KB;
Clients: Moberg Pharma;