Cereno Scientific's Board of Directors and Management Enter Lock-up Agreements
Cereno Scientific (Nasdaq First North: CRNO B), an innovative biotech pioneering treatments to enhance and extend life for people with rare cardiovascular and pulmonary diseases, today announced that all shareholding members of its board of directors and management have signed lock-up agreements for their shares and/or other securities in the company until and including June 30, 2026. The lock-up agreements will, however, terminate if the company carries out a capital raise before June 30, 2026.
All shareholding members of the company's board of directors and management have entered into agreement not to sell their shares and/or other securities in the company in any way, also known as lock-up agreements, during the period until and including June 30, 2026. The lock-up agreements will, however, terminate if the company carries out a capital raise before June 30, 2026. The lock-up prevents transfer or disposal of shares and/or other securities in the company, with customary exceptions.
"Cereno Scientific is entering a pivotal phase, with significant clinical progress across our portfolio. The Board's decision to enter lock-up agreements signals our firm belief in the company's potential and readiness for the next stages of growth, including the opportunities we see ahead for strategic partnerships and value creation, said Jeppe Øvlesen, Chairperson of the Board of Directors, Cereno Scientific.
The following members of management and the board of directors with current shareholding have signed lock-up agreements:
- Sten R. Sörensen, CEO and Board member
- Björn Dahlöf, CSO
- Eva Jagenheim, CFO
- Nicholas Oakes, Head of Preclinical Development
- Fredrik Frick, Head of Clinical Operations
- Kristina Runge, Head of Office and Administration
- Jeppe Øvlesen, Chairperson of the board of directors
- Moi Brajanovic, Board member
- Gunnar Olsson, Board member
- Anders Svensson, Board member
"This decision demonstrates our unwavering commitment to Cereno Scientific's mission and to our shareholders. With important milestones approaching, including initiation of the global Phase IIb study for CS1 and continued advancement of CS014, this lock-up shows that management believes strongly in the company's future and stands fully behind its trajectory," said Sten R. Sörensen, CEO and board member of Cereno Scientific.
For further information, please contact:
Tove Bergenholt, Head of IR & Communications
Email: tove.bergenholt@cerenoscientific.com
Phone: +46 73- 236 62 46
About Cereno Scientific AB
Cereno Scientific is pioneering treatments to enhance and extend life. The company's innovative pipeline offers disease-modifying drug candidates to empower people suffering from rare cardiovascular and pulmonary diseases to live life to the fullest.
Lead candidate CS1 is an HDAC inhibitor that works through epigenetic modulation and represents a novel therapeutic approach by targeting the root mechanisms of the pulmonary arterial hypertension (PAH). CS1 is a well-tolerated oral therapy with a favorable safety profile that has shown encouraging efficacy signals in a Phase IIa trial in patients with PAH, including improvements in right heart function and patient quality of life, consistent with reverse vascular remodeling. An Expanded Access Program enables patients that have completed the Phase IIa trial to gain access to CS1. CS014, a new chemical entity with disease-modifying potential, showed favorable safety and tolerability profile in a Phase I trial. CS014 is a HDAC inhibitor with a multimodal mechanism of action as an epigenetic modulator having the potential to address the underlying pathophysiology of rare cardiovascular and pulmonary diseases with high unmet needs such as idiopathic pulmonary fibrosis (IPF). Cereno Scientific is also pursuing a preclinical program with CS585, an oral, highly potent and selective prostacyclin (IP) receptor agonist that has demonstrated the potential to significantly improve disease mechanisms relevant to cardiovascular diseases. 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 thrombosis prevention without increased risk of bleeding.
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 Scientific is listed on the Nasdaq First North (CRNO B). The Company's Certified Adviser is DNB Carnegie Investment Bank AB, certifiedadviser@carnegie.se. More information can be found on www.cerenoscientific.com.