Cereno Scientific's board of directors and management enter lock-up agreements
Cereno Scientific (Nasdaq First North: CRNO B), a company developing innovative treatments for common and rare cardiovascular disease, today announced that its board of directors and management have signed lock-up agreements for their shares and/or other securities in the company until publication of the report from the data quality control of CardioMEMS measurements.
The members of the board of the 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 from and including August 29, 2023, up to the publication of the report from the data quality control of CardioMEMS measurements, but at the latest up to and including December 31, 2023. Information about the launch of the initiative for data quality control of CardioMEMS measurements was announced through a press release on August 23, 2023. The lock-up prevents transfer or disposal of shares and/or other securities in the company, with customary exceptions.
"For the first time in the company's history the entire management, the entire board of directors, and our founder have entered into voluntary lock-up agreements. We have an exciting journey ahead at Cereno with several major milestones to deliver upon in the coming months. By entering into the lock-up, we are sending a strong message to the market," said Joakim Söderström, Chairperson of the board of directors, Cereno Scientific.The following persons in the management and the board of directors have signed lock-up agreements:
- Sten R. Sörensen, CEO
- Björn Dahlöf, CMO
- Eva Jagenheim, CFO
- Niklas Bergh, Senior Advisor
- Joakim Söderström, chairperson of the board of directors
- Jonas Faijerson Säljö, member of the board of directors and Chief Intellectual Property Officer
- Sverker Jern, member of the board of directors and co-founder
- Lena Mårtensson Wernrud, member of the board of directors
- Anders Svensson, member of the board of directors
"I am confident in the potential of our drug portfolio with candidates in development as treatments for common and rare cardiovascular disease where unmet needs exist. We have seen remarkable data in a patient case study from the Phase II study of CS1 indicating a favorable effect in patients with PAH. CS1 could become a game-changer for patients, and that is just one of our three candidates. We in management are happy to further show our commitment to advancing Cereno and its portfolio by entering a lock-up agreement," said Sten R. Sörensen, CEO, Cereno Scientific.
For further information, please contact:
About Cereno Scientific AB
Cereno Scientific is a clinical-stage biotech company within cardiovascular diseases. The lead drug candidate, CS1, is a Phase II candidate in development for the treatment of the rare disease pulmonary arterial hypertension (PAH). 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, all relevant for PAH. A clinical Phase II study is ongoing to evaluate CS1's safety, tolerability, and efficacy in patients with PAH. A collaboration agreement with global healthcare company Abbott allows Cereno to use their cutting-edge technology CardioMEMS HF System in the study. Cereno also has two promising preclinical drug candidates in development for cardiovascular disease through research collaborations with the University of Michigan. Drug candidate CS014 is a novel HDAC inhibitor with epigenetic effects, selected for prevention of thrombosis as target indication. In preclinical studies it has been documented to regulate platelet activity, ﬁbrinolysis and clot stability for prevention of thrombosis without increased risk of bleeding. Thrombosis prevention in venous or arterial and cardiovascular disease has been selected as the first indication area for CS014. Drug candidate CS585 is a prostacyclin receptor agonist that has been documented in preclinical studies to target the IP receptor for prevention of thrombosis without increased risk of bleeding. The company is headquartered in Gothenburg, Sweden, and has a US subsidiary Cereno Scientific Inc. based in Kendall Square in Boston, Massachusetts, US. Cereno is listed on the Nasdaq First North (CRNO B). More information on www.cerenoscientific.com.