Pharmalink raises MEuro 11
Investinor’s portfolio company Pharmalink AB has raised SEK100 million (MEURO 11) in a mezzanine financing round from all its existing investors.
The funds will be used to prepare a Phase 3 clinical development programme for its lead product candidate Nefecon® for the treatment of primary IgA nephropathy, an inflammatory disease of the kidney that in 20-40% patients progresses to end-stage renal disease.
A randomized Phase 2b trial of Nefecon® (the NEFIGAN trial) in more than 150 patients met its primary efficacy endpoint at a planned interim analysis. Updated results from the completed NEFIGAN trial are expected in the fourth quarter 2015.
Pharmalink is also planning to undertake an Initial Public Offering on Nasdaq Stockholm in 2016, pending favourable market conditions, primarily to fund the clinical development of Nefecon towards market approval and commercialisation in key territories.
Visit www.pharmalink.se for further information.