PRESS RELEASE
October 18, 2016
Saniona, a leading biotech company in the field of ion channels, today announces that the company has decided to postpone the planned change of listing from Nasdaq First North Premier to Nasdaq Stockholm. The listing process will restart in the spring of 2017.
As previously communicated, Saniona has initiated a process to transfer its listing from Nasdaq First North Premier to Nasdaq Stockholm Small Cap during 2016. Saniona has planned the listing on Nasdaq Stockholm Small Cap under the assumption that management fulfilled applicable competence and experience criteria.
One of the listing requirements applicable to companies to be listed at Nasdaq Stockholm is that the management of the company should have sufficient competence and experience to manage a company listed on a regulated market.
In order to fulfil the relevant listing requirement, the CEO, CFO or equivalent senior executive member of the management team with responsibility for disclosing information to the market should typically have at least twelve months' experience within the last five years from a similar position in a company listed on a regulated market, including Nasdaq First North Premier, or comparable experience.
Nasdaq Stockholm's listing committee has, in a so called advanced ruling, come to the conclusion that, based on an overall assessment, Saniona's management team's experience will not fulfil the applicable listing requirement during 2016.
Experience from a company listed on Nasdaq First North Premier during 12 months will count to satisfy the relevant listing requirement. Saniona has been listed on Nasdaq First North Premier since May 19, 2016. Therefore, based on the existing management experience Saniona may be listed at Nasdaq Stockholm Small Cap at the earliest during the second quarter of 2017.
For more information, please contact
Thomas Feldthus, EVP and CFO, Saniona, Mobile: +45 2210 9957, E-mail: tf@saniona.com
This information is information that Saniona (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 18:30 CET on October 18, 2016.
About Saniona
Saniona is a research and development company focused on drugs for diseases of the central nervous system, autoimmune diseases, metabolic diseases and treatment of pain. The company has a significant portfolio of potential drug candidates at pre-clinical and clinical stage. The research is focused on ion channels, which makes up a unique protein class that enables and controls the passage of charged ions across cell membranes. Saniona has ongoing collaboration agreements with Boehringer Ingelheim GmbH, Upsher-Smith Laboratories, Inc., Productos Medix, S.A de S.V and Saniona's Boston based spinout Ataxion Inc., which is financed by Atlas Venture Inc. and Biogen Inc. Saniona is based in Copenhagen, Denmark, where it has a research center of high international standard. Saniona is listed at Nasdaq First North Premier and has about 4,400 shareholders. Pareto Securities is Certified Advisor for Saniona. The company's share is traded under the ticker SANION. Read more at www.saniona.com.
