Announcement • Oct 31
Oncoinvent ASA (OB:ONCIN) completed the acquisition of BerGenBio ASA (OB:BGBIO) from Hadean Capital I AS and Hventures Capital I AB, managed by Hadean Ventures and others in a reverse merger transaction. Oncoinvent ASA (OB:ONCIN) agreed to acquire BerGenBio ASA (OB:BGBIO) from Hadean Capital I AS and Hventures Capital I AB, managed by Hadean Ventures and others in a reverse merger transaction for approximately NOK 220 million on June 30, 2025. As part of the deal, NOK 217.47 million shall be paid towards the common equity of BerGenBio ASA. The exchange ratio for the merger is 1.20268049. This is an all-share transaction, the BerGenBio shareholders will receive 25% and Oncoinvent 75% of this merged company. And technically, it's BerGenBio will be the surviving entity, but it will be then we name Oncoinvent. So Oncoinvent will be the name going forward when this is all fully completed. Øystein Soug and Tore Kvam will be appointed as the CEO and CFO of the merged entity respectively. The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders, approval of offer by target shareholders and approval/consents of lenders/creditors. The expected completion of the transaction is around mid-September 2025. As of September 17, 2025 the Merger will be completed on or about 29 October 2025.
ABG Sundal Collier ASA acted as financial advisor for Oncoinvent ASA. Advokatfirmaet Schjødt As acted as legal advisor for Oncoinvent ASA. DNB Carnegie acted as financial advisor for BerGenBio ASA. Advokatfirmaet Thommessen AS acted as legal advisor for BerGenBio ASA.
Oncoinvent ASA (OB:ONCIN) completed the acquisition of BerGenBio ASA (OB:BGBIO) from Hadean Capital I AS and Hventures Capital I AB, managed by Hadean Ventures and others in a reverse merger transaction on October 29, 2025. Announcement • Oct 30
BerGenBio ASA, Annual General Meeting, May 20, 2026 BerGenBio ASA, Annual General Meeting, May 20, 2026. New Risk • Aug 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 26% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 26% per year for the foreseeable future. Revenue is less than US$1m (kr848k revenue, or US$83k). Market cap is less than US$10m (kr46.2m market cap, or US$4.50m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr220m net loss in 2 years). Share price has been volatile over the past 3 months (10% average weekly change). 
