Oslo Cancer Cluster member Ultimovacs, a Norwegian cancer vaccine company, have raised NOK 370 million and entered the Oslo Stock Exchange on Monday 3 June 2019.
There was a stir of interest among both national and international investors when Ultimovacs announced they will enter the Oslo Stock Exchange. Several interested parties have now become shareholders in the company, totalling approximately 1 500 shareholders.
“It is good for the Norwegian health industry and for Ultimovacs when national and international investors show the company this kind of trust. In today’s uncertain market, it is especially nice with such a large interest, from both international investors and small savers. I look forward to following the company further,” says Jonas Einarsson, Chairman of the Board in Ultimovacs and Managing Director in Radforsk.
The funds that Ultimovacs have raised will go to financing the development of their universal cancer vaccine, UV1. A large clinical study will document the effect of the vaccine. UV1 will be combined with other immunotherapies in patients with malignant melanoma (a type of skin cancer) at around 30 hospitals in Norway, Europe, USA and Australia.
Ultimovacs have already run two successful clinical trials of the vaccine on patients with lung cancer, prostate cancer and malignant melanoma.
“The cancer vaccine has shown promise in the studies we have conducted at the Norwegian Radium Hospital. Based on the results, we have established a development programme to document that our vaccine has effect on cancer patients. I am very happy that we now have entered the Oslo Stock Exchange. It means that the practical conditions are in place to put our development programme into action,” said Øyvind Kongstun Arnesen, Chief Executive Officer in Ultimovacs.