2017 Q2 report, January-June for Panion Animal Health

Period April-June

  • Net sales: kSEK 0 (0)
  • Operating profit: kSEK -1 269 (0)
  • Earnings per share: SEK -0,10 (-).
  • Liquidity at the end of the period: kSEK 796 (582).

Period January-June

  • Net sales: kSEK 0 (0). 
  • Operating profit: kSEK -2 536 (-). 
  • Earnings per share: SEK -0,21 (-). 
  • Liquidity at the end of the period: kSEK 796 (582).

Significant events after the end of the period:

  • Panion's business and structure was approved by AktieTorget on the 3.rd of July, and the shares could then be listed on the MTF under the name "Panion". First trading day was of July 2017.
  • The license agreement with CombiGene was clarified and resigned on the 3.rd of July, specifically regarding the compensation that Panion will receive in case CombiGene would need to withdraw the license.
  • The Letter of Intent with GeneQuine Biotherapeutics GmbH was extended to 31/12 2017 to facilitate a robust review.

CEO statement 
In the second quarter of 2017, Panion made real progress with the listing of the company on AktieTorget, and this finally came true on the 3. rd of July with first trading day on the of July. Admitted, it took longer time and more effort than we had first estimated. The review process prior to acceptance is a thorough investigation of the documents, procedures, persons, and business of a company, and we had to adapt some of our documents along the way. However, being accepted by AktieTorget's lawyers and professionals is a genuine qualitystamp for Panion and it shows that we have a robust and healthy company structure. Our team was expanded with Anni Acs as the Chief Financial Officer (CFO) in the spring and is now also fully operational for the coming steps in Panion's development. 

Looking ahead, the next big task is to run the planned clinical trial for our epilepsy project, for which we raised capital by a shares issue in May. The development plan is progressing, qualified consultants are connected, we have started the exchange process with FDA for a feewaiver, and we are in dialogue with the preferred dog-epilepsy center. To facilitate this, Panion's board decided to open a representation office in New York, on Lexington avenue, which will be managed by our US-based director of business development Carlos N. Velez. 

I encourage interested investors to read more details in the full company description of Panion, which can be found on our website in both Swedish and English. It will be very interesting times that we are heading into, and I am fully confident that we will create true value with our product development. Epilepsy in dogs is serious disease that affects millions of family dogs across the world and for which medicine is not effective in approximately 30% of cases. We want to develop an effective gene therapy treatment that can alleviate or eliminate the scary and unpleasant seizure attacks and improve the quality of life for these dogs and their owners. The prospect of treating epilepsy - and other chronic diseases - with gene therapy is very promising and all members of Panion's team are ready to fight the challenges on our way. 
Anja Holm, 
CEO, Panion Animal Health AB

Future reporting dates 
Interim Report for Q3 2017, 21 November 
Interim Report for Q4 2017, 22 February 2018

For the complete report, see attached document.

Lars Thunberg
Chairman of the Board

Anja E. H. Holm 

Elisabeth Willis
Board member

Nerry Kamstrup
Board member

Lars Friis Mikkelsen
Board member 

Anja E. H. Holm, SEO 
+ 45-22 94 66 00

This report contains information which Panion Animal Health AB is obliged to publish according to the EU market abuse regulation (MAR). This information was submitted by Panion's CEO, Anja E. H. Holm, for publication on August 21 2017.

About Panion 
Panion Animal Health AB's aim is to develop and commercialize the canine application of CombiGene AB's technology for gene therapeutic treatment of drug refractory epilepsy. In addition, Panion aims at inlicensing or acquiring other, similar assets, i.e., animal health applications of human health development projects where relevant animal experiments can be lifted back into the veterinary field. 
Panion is a public Swedish company that started as a subsidia-ry company of CombiGene. 
Panion's shares are listed on AktieTorget under the name "Panion".


Period October-December

  • Net sales: kSEK 0 (0).
  • Operating profit: kSEK -854 (-643).
  • Earnings per share: SEK -0,32 (-0,09).
  • Liquidity at the end of the period: kSEK 2 124 (306)

Period January-December

  • Net sales: kSEK 0 (0).
  • Operating profit: kSEK -4 200 (-692).
  • Earnings per share: SEK -0,32 (-0,09).
  • Liquidity at the end of the period: kSEK 2 124 (306)

Panion Animal Health AB's Director Regulatory Affairs, Niels-Erik Manniche, has decided to leave the company.


Panion Animal Health AB (the "Company") has entered into a financing agreement with New York based Yorkville Advisors Global ("Yorkville") as the investment manager and on behalf of one or more of its investment funds has agreed to purchase up to SEK 9,000,000 of Convertible Notes of Panion Animal Health AB. In addition, Panion has entered into a financing agreement with Dividend Sweden who has agreed to purchase SEK 500,000 of convertible Notes of Panion Animal Health AB.


Panion Animal Health AB ("Panion") has in Q4-17 requested the FDA to open an Investigational New Animal Drug application file to carry out the development of our new product for use in the dog. Panion plans to develop and gain approval for the use of CG-01-canine, a recombinant adeno-associated virus vector expressing neuropeptide Y and receptor peptide Y2 to treat drug refractory idiopathic epilepsy in the dog via intracranial injection.


Panion Animal Health AB has had a very satisfactory cooperation with our CFO Anni Acs, who excellently handled the business transition into the stock market, shares issue, and daily financial controlling. Anni has moved to a new job challenge and we wish her all the best.



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