Cereno Scientific reports acquired warrants within the framework of the incentive program resolved at the Annual General Meeting
Cereno Scientific (Nasdaq First North: CRNO B) (the “Company”), a pioneering biotech developing innovative treatments for rare and common cardiovascular disease, today announced that members of the Company’s management have acquired warrants within the framework of the Company’s incentive program as resolved at the Annual General Meeting held on April 16, 2024.
The Annual General Meeting of the Company held on April 16, 2024, resolved on a directed issue of warrants of series 2024/2027:1 to current employees of the Company’s management within the framework of an incentive program. The warrants were issued free of charge and the participants in the incentive program have entered into agreements with the company, whereby they undertake to sell back acquired warrants to the Company if the participant’s involvement in the Company ceases within three years of the acquisition. The complete terms of the warrants of series 2024/2027:1 and the incentive program are available on the Company’s website.
Members of the Company’s management who have acquired warrants of series 2024/2027:1 within the framework of the incentive program are:
- Rahul Agrawal, CMO and Head of R&D: 2,000,000 warrants
- Julia Fransson, Director of Business Development, 200,000 warrants
- Tatiane Abreu Dall’Agnol, Medical Director, 200,000 warrants
- Megha Ranjan, Project Director, 25,000 warrants
For further information, please contact:
Henrik Westdahl, Director IR & Communications
Email: [email protected]
Phone: +46 70-817 59 96
Sten R. Sörensen, CEO
Email: [email protected]
Phone: +46 73-374 03 74
About Cereno Scientific AB
Cereno Scientific develops innovative treatments for rare and common cardiovascular disease. The lead drug candidate, CS1, is an HDAC (histone deacetylase) inhibitor that acts as an epigenetic modulator with pressure-reducing, reverse-remodeling, anti-inflammatory, anti-fibrotic and anti-thrombotic properties. A Phase II trial is ongoing to evaluate CS1’s safety, tolerability, and efficacy in patients with the rare disease pulmonary arterial hypertension (PAH). A collaboration agreement with global healthcare company Abbott allows Cereno to use their cutting-edge technology CardioMEMS HF System in the trial. Two initiatives performed during the ongoing Phase II trial have shown positive findings suggesting the potential clinical benefit of CS1 in PAH patients. These initial findings are, however, not a guarantee of the final trial results that are expected in Q3 2024. Since January 2024, we are delighted that the FDA´s Expanded Access Program will enable patients with PAH, a serious life-threatening disease condition, to gain access to CS1 where no comparable alternative therapy options are available. Cereno’s pipeline comprises two additional programs in development through research collaborations with the University of Michigan. Investigational drug CS014 is an HDAC inhibitor in Phase I development as a treatment for arterial and venous thrombosis prevention. The innovative drug candidate represents a groundbreaking approach to antithrombotic treatment. CS014 is a new chemical entity with a multi-fold mechanism of action as an epigenetic modulator – regulating platelet activity, fibrinolysis, and clot stability for the prevention of thrombosis without an increased risk of bleeding as documented in preclinical trials. On 28th of June, 2024, Cereno initiated a first-in-human Phase I trial of CS014. Preclinical candidate CS585 is an oral, highly potent and selective prostacyclin (IP) receptor agonist that has demonstrated the potential to significantly improve disease mechanisms relevant to cardiovascular disease. While CS585 has not yet been assigned a specific indication for clinical development, preclinical data indicates that it could potentially be used in indications like Pulmonary Hypertension and thrombosis prevention without increased risk of bleeding. CS585 was in-licensed from the University of Michigan in 2023. The Company is headquartered in GoCo Health Innovation City, in Gothenburg, Sweden, and has a US subsidiary; Cereno Scientific Inc. Based in Kendall Square, Boston, Massachusetts, US. Cereno is listed on the Nasdaq First North (CRNO B). The Certified Advisor is Carnegie Investment Bank AB, [email protected]. More information is on www.cerenoscientific.com.
