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Teckna units i DanCann Pharma A/S
21.10.2020

Teckna units i DanCann Pharma A/S

DanCann Pharma A/S är ett farmaceutiskt bioteknikföretag som grundades i mars 2018 strax efter att det nya pilotprogrammet inrättades. Under sommaren 2018 fick bolaget som ett av de första företagen i Danmark tillstånd att hantera och odla medicinsk cannabis genom det så kallade ’’Development scheme’’. DanCann Pharma är ett vertikalt integrerat företag vars verksamhet kommer att innefatta allt från odling till raffinering av cannabis och cannabinoider. Bolagets affärsplan består av flera olika delar såsom: import, export, försäljning, forskning och utveckling samt egen produktion.

DanCann Pharma är ett vertikalt integrerat företag med kommande aktiviteter från genetisk utveckling (forskning om nya cannabinoider) till formuleringen av läkemedlet. DanCann Pharmas affärsplan har flera spår, inklusive: import / distribution, FoU och egen produktion (odling, utvinning, raffinering och formulering).

Företaget strävar efter att producera standardiserade aktiva farmaceutiska ingredienser (API). Dessa produkter kommer att användas i företagets egna mellanprodukter såväl som inom läkemedelsindustrin och tillgodoser behoven hos stora och små läkemedelsutvecklare.

DanCann Pharmas nästa steg är egna produktionslinjer där de aktiva ingredienserna kommer att formuleras för läkemedel i flera olika doseringstekniker (både nya och befintliga) med resultat av olika, patientvänliga produkter inklusive, men inte begränsat till; kapslar, piller och oljor - med avancerad teknik och bearbetningsutrustning.


Erbjudandet i sammandrag

Erbjudande: En unit består av fem (5) aktier och två (2) teckningsoptioner som emitteras vederlagsfritt.

Erbjudandepris: 22.5 DKK per unit, vilket motsvarar 4.5 DKK per aktie.

Teckningsoption: En teckningsoption berättigar till teckning av en nyemitterad aktie i Bolaget under perioden 1 september 2021 till 17 september 2021, till en fastställd teckningskurs per aktie motsvarande 6 DKK.

Emissionsbelopp: DanCann Pharma tillförs 30 MDKK (före avdrag för emissionskostnader) vid full teckning i Erbjudandet och ytterligare cirka 16 MDKK vid fullt utnyttjande av teckningsoptionerna.

Bolagsvärde: Cirka 63.3 MDKK före Erbjudandet.

Teckningsförbindelser: 22.5 MDKK, motsvarande cirka 75% av Erbjudandet.

Lock-up: Styrelse, ledning och största aktieägaren har ingått lock-up motsvarande cirka 39,24 procent av aktierna i Bolaget efter Erbjudandets genomförande.

Teckningsperiod: 7 oktober 2020 - 23 oktober 2020.

Minsta teckningspost: 200 units, motsvarande 4 500 DKK 


Dokument och filer

Erbjudandesida

Teaser

Prospekt

Anmälningssedel

Introvideo

Hemsida

Video DanCann

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Stockpicker intervjuar - DanCann Pharma A/S
16.10.2020

Stockpicker intervjuar - DanCann Pharma A/S

DanCann Pharma A/S är ett farmaceutiskt bioteknikföretag som grundades i mars 2018 strax efter att det nya pilotprogrammet inrättades. Under sommaren 2018 fick bolaget som ett av de första företagen i Danmark tillstånd att hantera och odla medicinsk cannabis genom det så kallade ’’Development scheme’’. DanCann Pharma är ett vertikalt integrerat företag vars verksamhet kommer att innefatta allt från odling till raffinering av cannabis och cannabinoider. Bolagets affärsplan består av flera olika delar såsom: import, export, försäljning, forskning och utveckling samt egen produktion.

Could you tell us a bit about yourself and your background?

– As a person, I am driven to make a difference, including passion for innovation, and challenging the existing - as well as optimism for a better future.

jeppe

Jeppe Krog Rasmussen, CEO

In terms of background, I have serval years in investment and the financial world - I have myself a background as an investor for many years - and I have always had a good eye for new and exciting startups and industries. I have worked on project DanCann Pharma for over 3 years now and through this established a solid network nationally and internationally. As a type-1 diabetic, I was born with an interest in pharmaceuticals and Biotech / MedTech - and have indirectly been part of the industry for over 20 years now.

I would say that my own vision of the company has “flowered” during our DanCann Pharma journey, and today it is not just exciting to drive our company - but - I actually feel that we have a huge mission ahead of us - namely to make a difference for the many patients who have good experiences with pharmaceuticals like ours but lack access to treatment. And for the same reason we believe in our vision about improve health and life quality for patients with challenges.

Please give our readers an introduction to DanCann Pharma.

– DanCann Pharma A/S was founded in 2018 and is a Danish pharmaceutical biotechnology company powered by cannabinoids. DanCann Pharma is focused on discovering, developing, manufacturing, and commercializing of novel cannabinoid therapeutics in a broad range of disease areas.

The company was established due to the poor access for cannabinoid-based drugs and pharmaceuticals shortly after the establishment of the new Pilot Programme with medical cannabis in Denmark.

DanCann Pharma is licensed for handling of euphoriant substances, and during the summer 2018, the Company was licensed as one of the first companies in Denmark to handle and cultivate cannabis for medical use.

The goal for DanCann Pharma is to make and distribute prescription (Rx-pharmaceuticals) and over-the-counter (OTC) pharmaceuticals mainly focused on pain patients with alternative needs and management to handle their illness, covered by the Danish Pilot Programme for medical cannabis – with future targets for further and new patient groups and segments.

Could you elaborate on DanCann’s business model?

– DanCann Pharma is a vertically integrated company with upcoming activities from genetic development (research into novel cannabinoids) to the formulation of the pharmaceutical. DanCann Pharma’s business plan has several tracks, including: imports / distribution, R&D, and own in-house production (cultivation, extraction, refining and formulation).

We aim to produce standardized active pharmaceutical ingredients (APIs). These products will be used in the Company's own intermediate products as well as in the pharmaceutical industry and meet the needs of large and small drug developers.

DanCann Pharma’s next step is in-house production lines where the active ingredients will be formulated for pharmaceuticals in several different dosing technologies (both new and existing) with the result of various, patient-friendly products including, but not limited to; capsules, pills and oils - using advanced technology and processing equipment.

pilleIf any, what impact has COVID-19 had on DanCann Pharma and your business operations?

– Until now, COVID-19 has not had a major impact on DanCann Pharma, as during the pandemic we have not had any applications within the Danish Medicines Agency. We know that several of our competitors have suffered from this, as the global pandemic put an end to processing all applications due to the full attention on protective equipment around the management of COVID-19. The handling processes of applications are now back to normal, and we do not expect this to have any effect on our estimated upcoming handling times. Of course, there has also been a lot of speculation in relation to future market conditions, as the pandemic struck back at the beginning of the year (2020) where we also began to consider making the company public - but it has always been with a humble approach to the method and a certain readiness for change

DanCann Pharma is currently raising 30 MDKK in a IPO and the share is to be listed at Spotlight Stock Market. How are you going to use this capital and why have you decided to go public?

– Since we work with pharmaceuticals, the entry barriers are incredibly high - this equates to large capital requirements - and as we have experienced enormous interest from the investment environment, we saw this as a natural next step.

Where many others have chosen to make partnerships with Canadian and Israeli companies by various creative joint-venture structures, and thereby act as subsidiaries with entrance to the European market, we at DanCann Pharma have chosen to take fully control ourselves - and thereby be the master of our own future and strategy.

The proceeds from the IPO is raised to meet the goals of the Company have set, which is to obtain the necessary approvals with regard to the various processes and licenses through the Danish Medicines Agency and to integrate in the Scandinavian markets. The be more precise purpose of the proceeds from the issue is the following:

1. Establishment of BIOTECH PHARMs Approx. 50-60 %
2. Partnerships and R&D Approx. 10-20 %
3. Operating costs Approx. 30-40 %

What would you say is the biggest risks going forward?

– The development of the Pilot Programme, including the regulatory conditions (although it seems unrealistic that they should develop in a negative direction for a company like ours), this may have an effect on the market and its estimated size, including the behavior of doctors , reimbursement schemes, etc. etc. For the same reason, we try to integrate politically and professionally with all parties, in order to jointly create the best result, which ultimately provides the best conditions for the patients in need.

In addition, there is also a potential chance that our company does not obtain the necessary permits from the Danish Medicines Agency - we have of course, through the last many years of preparation, done everything to ensure that this does not stand in the way for us to obtaining these.

Lastly it should also be mentioned that we obviously compete with some huge competitor in the market - and this can in the worst-case result in these potentially outcompeting us as a player in the market. And for the same reason, we as a company need to "think out of the box" - and I certainly think we do this from step -3 to step 99.

Can you briefly walk us through how the legal framework and the policies on medical cannabis looks like in Europe today and what do you think the future will hold?

– On 1 January 2018, medical cannabis was legalized in Denmark under a 4-year Pilot Programme that allow all Danish Physicians to prescribe cannabis for medical use. The Programme was approved by 9 out of 10 political parties in the Danish parliament at the time and is therefore widely supported across the political parties.

The purpose of the Pilot Programme is to give patients a legal opportunity to test medical cannabis treatment if they have not benefited from conventional medication. The Pilot Programme has given Danish companies a possibility to import, cultivate, produce, distribute and/or export medical cannabis, if the company obtains the necessary authorizations from the Danish Medicines Agency (DMA).

Based on statements from patient organizations, KOI’s, staff at DMA (Danish Medicine Agency) and politicians, it is DanCann Pharma and its management team’s best assessment that the 4-year Programme will be replaced by an extension or a permanent regulation. The global medical cannabis market is already extensive, and it is DanCann Pharma’s opinion that the Danish legalization-wave is expected to make a significant contribution to expanding the European and global market.

Through its legislation, Denmark has achieved a unique position in the European market. The majority of countries in Europe are highly dependent on imports as they have no or partially limited production (quota based). Denmark, in contrast, has no limit on how much medical cannabis must be produced. Also, the new export legislation gives the Danish manufactures access to large markets in form of neighbouring countries, since Denmark is one of the only countries in Europe that is allowed to export.

With this advantage in the export regulation, the Danish manufacturers can capture the market before it is established. What really describes the European market so far is the large number of countries with patients’ schemes, but the very narrow supply of manufactures.

How does your competition look like and what do you do better/differently than your peers?

– At first sight, the Danish market looks crowded. From a number of applicants perspective, this is certainly true. But while licensed companies have received one or more licenses from the DMA under the Pilot Programme and Development Scheme and with more expected to be approved, the reality is that to date no one has got any Danish products on the market yet and only a very small number (so far 3 manufacturers) have got products imported into the market (currently only two).

There is a significant difference between the capabilities, financial strengths and strategy of the contenders. However, competition will emerge, and the market will mature and proliferate over the coming years. This is natural and positive.

We have many major competitors, which are solely based on large-scale cultivation. The aim for us is not to compete with these, as DanCann Pharma has a different target in terms of patients (markets).

Rather than focusing on CBD or THC heavy genetics (and thus competing with large scale producers), it is in DanCann Pharma’s interest to focus on genetics with more rare and novel Cannabinoids, such as THCV and CBG (but not limited to). It is important to distinguish when we talk about cannabis flower.

I also think it is worth commenting on the big producers (volume) and staging this with the current needs (seen with European glasses), we have several big competitors who have ambitions to produce +100,000 kilograms of cannabis flower, but if we for example look at Germany and their current needs, as the largest market in Europe, they had a total of 6,719 kilograms in 2019. We expect that our first facility (on a full scale) can produce around 3,000 kilograms per year, which can supply half of Germany at present.

To me, we still lack a basis of existence to produce these enormous quantities and it requires first and foremost that they can sell it and that their expectations about the future in terms of the medical cannabis market hits correct. The money is not in volume - but in the differentiation, security of supply and the many next steps further in the value chain where you can really get some IP / IPR being a pharmaceutical company.

What is the size of DanCann Pharma's potential market?

– In 2018, the Danish pharmacies dispensed pharmaceuticals for approx. DKK 7.6 billion calculated in the pharmacy's purchase prices.

Pharmaceuticals for the nervous system were the most widely traded Rx-pharmaceutical group. With revenue of DKK 1.7 billion, it accounted for 22.15 percent of pharmacies’ total Rx-pharmaceutical sales.

In relation to patient groups associated with the Pilot Programme, these together represent a market value of approx. DKK 2 billion, based on Rx-pharmaceuticals delivered in Denmark.

According to you, why is buying shares in DanCann Pharma a good investment?

If you believe in a future with medical cannabis, you should invest in DanCann Pharma.

– We see a huge opportunity for a unique position in a new unexplored market where several competing companies appear to have not been successful with their strategy. We want to challenge this and question our own and competitors' methods and always look for a potentially better way of doing things.

DanCann Pharma aims the highest standards of quality and safety with its first-class production facilities and quality management systems by achieving the highest certifications to become a global pharmaceutical brand. Through our strategy, we express a high priority to the pharma aspect.

460With our approach to the pharmaceutical market based on analysis, many years of preparation, strong risk assessment, and without the risks associated with massive cultivation in the first place  we see our current position as an advantage. We have not "rushed" our business, but carefully considered how to approach this task. This is reflected in all the choices we, as an organization, make to ultimately ensure patient safety and satisfying results for our investors.

Invest in DanCann Pharma if you: like us, think differently and prefer a company that dare to challenge the existing.

Finally, what is your long-term vision for DanCann Pharma? Where do you see the company 5 years from now?

– 5 years from now we have made a massively impact by a positive and meaningful difference in the lives of patients and their relatives. All of the company’s actions and decisions tie back to this most important and simple fact. DanCann Pharma aims to become a contribution to the need of alternative treatment than the conventional ways we already know today.

Finally…

To sum it up, we are now doing our IPO at Spotlight Stock Market to ensure speed and develop to our beloved company.

Join our journey – from idea to launch – and help us change the world.

 


Erbjudandet i sammandrag

Erbjudande: En unit består av fem (5) aktier och två (2) teckningsoptioner som emitteras vederlagsfritt.

Erbjudandepris: 22.5 DKK per unit, vilket motsvarar 4.5 DKK per aktie.

Teckningsoption: En teckningsoption berättigar till teckning av en nyemitterad aktie i Bolaget under perioden 1 september 2021 till 17 september 2021, till en fastställd teckningskurs per aktie motsvarande 6 DKK.

Emissionsbelopp: DanCann Pharma tillförs 30 MDKK (före avdrag för emissionskostnader) vid full teckning i Erbjudandet och ytterligare cirka 16 MDKK vid fullt utnyttjande av teckningsoptionerna.

Bolagsvärde: Cirka 63.3 MDKK före Erbjudandet.

Teckningsförbindelser: 22.5 MDKK, motsvarande cirka 75% av Erbjudandet.

Lock-up: Styrelse, ledning och största aktieägaren har ingått lock-up motsvarande cirka 39,24 procent av aktierna i Bolaget efter Erbjudandets genomförande.

Teckningsperiod: 7 oktober 2020 - 23 oktober 2020.

Minsta teckningspost: 200 units, motsvarande 4 500 DKK 


Dokument och filer

Erbjudandesida

Teaser

Prospekt

Anmälningssedel

Introvideo

Hemsida

Video DanCann

 

 

 

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