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2015-11-20

Oncology Venture: Interim Report 2015-01-01 - 2015-09-30

The board and CEO of Oncology Venture Sweden AB hereby announces its
report for the third quarter of 2015.

Summary of Interim Report

Operations of the group's controlling company, Oncology Venture Sweden
AB, started on June 4:th 2015.

Hence, the group relationship was established on this date, and
comparable periods are not yet available.

Approximately four months (2015-06-04 - 2015-09-30)

· Net sales: 446.000 SEK.

· Profit after financial items: -4.521.000 SEK.

· Cash and Bank 23.692.000 SEK.

· Earnings per share: -0,63 SEK.

· Solidity: 94,6 %.

Third quarter (2015-07-01 - 2015-09-30)

· Net sales: 446.000 SEK.

· Profit after financial items: -3.629.000 SEK.

· Earnings per share: -0,50 SEK.

Group earnings per share: the period's result divided by 7 233 186
stocks (on 2015-09-30).

Solidity: equity divided by assets.

"Oncology Venture Sweden AB" refers to Oncology Venture Sweden AB,
organization number 559016-3290.

"The Company", "Oncology Venture" or "OV" refers to the group, i.e.
Oncology Venture Sweden AB and its fully owned subsidiary company,
Oncology Venture ApS.

Significant events during the third quarter of 2015

- On July 17:th, AktieTorget announced the first trading day for Oncology Venture Sweden AB to be July 22:nd.

- At an Extraordinary General Meeting on June 28:th, decision was made to introduce three stock option programs for employees and board members. The option programs include a total of 325 000 warrants.

- On September 30:th, Oncology Venture announced the incorporation of APO010 Drug Response Predictor (APO010 DRP™) from Medical Prognosis Institute A/S in its clinical development program. Based on DRP, APO010 will be developed for use in treatment of Multiple Myeloma (blood cancer) a market with a turnover of seven billion USD. The DRP™ will consistently be used in screening Myeloma patients in a phase 1b/2-programme. Screening is scheduled to begin during the last quarter of 2015 in hematological clinics at several medical centres in Denmark.

Events after the end of this period

- On November 6th, 2015 - Oncology Venture announced that it has in collaboration with Department of Molecular Disease Biology, University of Copenhagen, Denmark; Laboratory of Molecular Pharmacology, National Cancer Institute, USA; Linus Oncology, USA; Medical Prognosis Institute A/S (MPI), Denmark and Department of Medical Chemistry and Molecular Pharmacology, Purdue University and the Purdue University Center for Cancer Research, USA published a poster at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics in Boston under the title: "Targeting the topoisomerase 1 enzyme in cancer cells with acquired resistance to SN-38". Data from this scientific collaboration shows that LMP400 has topoisomerase 1 inhibitory activity, and that colon cancer and breast cancer could be target for clinical trials.

- On November 8th, 2015 Oncology Venture announced that the Company in collaboration with Medical Prognosis Institute A/S, Denmark; Lantern Pharma Inc., USA; and Faculty of Health and Medical Sciences, University of Copenhagen, Denmark, have published a poster under the title: "A two stage prospective clinical trial with irofulven treatment targeting a selected subgroup of castration- and docetaxel resistant prostate cancer patients", at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics in Boston announcing the use of the DRP™ technology for a planned prospective trial with Irofulven treatment targeting a selected subgroup of castration and docetaxel resistant prostate cancer patients.

- On November 9th, 2015 - Oncology Venture Sweden announced an up-date on the Company. For more information, please see the press release published at AktieTorgets webpage (www.aktietorget.se).

Other events

- The rights issue of Oncology Venture Sweden AB was completed, and the revenue of 19.188 TSEK was made disposable to The Company on July 15:th, 2015 (The total IPO amount was 18.565 TSEK after calculating off all cost from the IPO after Q2 2015).

- Oncology Venture has received a so called "Orange Book Strategy Comfort Letter" from American IP lawyers Hyman, Phelps & McNamara. This document confirms the IP strategy OV is using in its drug development.

- The license regarding APO010 with TopoTarget (Onxeo ) covers 2015-16, and as of 2016 this license will be automatically prolonged one year at a time, given the circumstance a yearly minimum of 3 million DKK is invested in product development.

CEO Peter Buhl Jensen comments

The third quarter of 2015 has passed, and we have made significant
organizational progress. I want to thank the shareholders for their
interest in our share and for making it possible for us to focus on
providing better cancer treatments to patients. Oncology Ventures
business model is to bring oncology drugs that have failed to
demonstrate sufficient effect - from Zero to Hero. To better the odds
compared to traditional drug development the most rewarding
indication will be identified and patients will be screened in order
to find the most optimal population for the drug. Oncology Venture
will use the DRP™ to design adaptive focused phase 2 trials. Instead
of all patients with a certain type of cancer being treated, patients
are screened, and only those with the highest likelihood of response
to the drug candidate will partake in the study. With a well-defined
group of patients, risks and costs can be reduced. Time and resources
can be saved, and drug development made more efficient.

Oncology Venture (OV) has two licensed drug candidates. The latest
agreement was signed during the spring of 2015 with Lantern Pharma
LLC for Irofulven. OV previously signed a license agreement for the
drug candidate APO010 with TopoTarget (Onxeo).

In developing Irofulven against prostate cancer, the in-licensed tool
DRPTMwill be used. For OV and for Lantern Pharma, development cost
for Irofulven will partly be covered through allocations of a maximum
0.8 million USD (approximately 7 million SEK) from Boston,
Massachusetts Life Science Center, and Medicon Valley Region
Hovedstaden.

The drug candidate Irofulven has been tested on more than 1000
patients, and has shown very good effect in some cases. However, it
has not reached a high enough success rate to be approved. We have a
great method, which we anticipate will render a product approval.
Irofulven works differently compared to other drugs in also having
effect for cases with drug resistance. Hence, the drug candidate
fulfills Oncology Venture's requests.

At the end of September, we announced incorporating the APO010 Drug
Response Predictor (APO010 DRP™) from Medical Prognosis Institute A/S
in our clinical development program. Based on DRPTM, we will develop
APO010 to be used in the treatment of Multiple Myeloma (MM) and
Chronic Lymphatic Leukemia (CLL), two types of blood cancer which
according to the DRP™ are very sensitive to APO010. DRPTMwill be
consistently used in screening Myeloma and CLL patients in a phase
1b/2 program. This is scheduled to begin during the last quarter of
2015 in Hematology Clinics at several Medical Centres around Denmark.
In this study, we aim to choose those patients most likely to respond
to treatment with APO010. Likelihood is based on the patient's
personal, genetic signature. At the same time, our goal is to verify
APO010 as an effective treatment alternative against MM and CLL where
other drugs have not provided the desired effect. There are great
medical needs regarding MM and CLL, and the yearly market value
potential is over 7 and 3 billion USD respectively.

In November 2015 an update on the products in our pipeline was
announced. In brief one thing to mention regarding Irofulven is that
first patient is expected to be included in the screening phase of
the study during Q4 2015. Furthermore, it was announced that the
production of Irofulven has begun and it is expected that the first
patient could be treated with the study drug during late Q2 - Q3
2016. Regarding APO010 there is a possibility that the current stock
of the study drug can be used in the planned study of MM and CLL
which could potentially give large savings on the production costs.
After the end of the period Oncology Venture has sold 5mg of APO010
from current stock to a non-disclosed non-competing company for
176.000 USD. Finally, I want to emphasize that Oncology Venture has
acquired 2 more DRP™ licenses from MPI A/S for two non-disclosed,
promising anticancer drug candidates. Work and discussions is ongoing
with the drug owners to further evaluate the marked potential of the
drug candidates.

Our objective is to in-license a total of five drug candidates.
Agreements will be different with each product owner, but Oncology
Venture expect as a starting point to own a risk adjusted 40% in each
project. By this we mean that ownership share could be higher or
lower depending on the upfront financial commitment taken on by OV.
Furthermore, our goal within a time frame of three years is to
perform five DRP™ focused, phase 2 clinical studies on these drug
candidates, and to generate at least two drug candidates to be
out-licensed or sold. We dedicate ourselves to reach these goals, and
look with great optimism to the future.

Peter Buhl Jensen

CEO, Oncology Venture Sweden AB

About Oncology Venture

Many cancer drugs are only beneficial for a small group of patients,
and at present there is no way of identifying which patient will
respond to which treatment. This forces oncologists to treat many
patients blindly. If the number of patients positively affected by a
certain drug is too low, the drug candidate will probably not be used
even if it could be suitable and effective for some patients.

The same problem arouses in clinical studies of drug candidates. Lack
of effect has become the most common reason for clinical failures in
drug development. Many of these failures cannot be accounted to the
drug as such, but are instead the consequence of difficulties
performing clinical studies in the right way, i.e. with an adequately
defined patient group.

Our subsidiary Oncology Venture ApS holds a license from Medical
Prognosis Institute A/S (MPI) to use the technology Drug Response
Prediction (DRPTM). MPI is listed at NASDAQ First North in
Copenhagen. With the help of DRPTM, we can identify which patients
are likely to respond to a drug candidate. This increases the chances
of the candidate succeeding in clinical trials.

Oncology Venture is based on the idea of "rescuing" cancer drug
candidates that have been stopped in clinical development due to
insufficient response rate or difficulties in raising enough capital
to move on. The company works with a model that betters the odds
compared to trad...

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