Sweden's AnaMar Medical has raised SEK 75 million ($9.6 million) to fund a phase I study of AM240 MCR for rheumatoid arthritis. The funds are provided through a rights issue guaranteed by AnaMar's principal owner Koncentra Holding. AnaMar's other lead project is AM260 TASS, another RA compound.
"We are happy to have successfully secured SEK 75 million in new financing in the current financial climate. It's an acknowledgment that our principal owner shares our confidence in our projects. With this financing in place, we can take the first step into the clinic," says AnaMar's CEO Owe Gårlin. "First in line is a compound that is being developed for rheumatoid arthritis for which we will submit a Clinical Trials Application early next year. Our next project is also approaching studies in man."
- see AnaMar's release [1]
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Links:
[1] http://www.fiercebiotech.com/press-releases/anamar-medical-ab-anamar-medical-raises-sek-75-million-new-financing
[2] http://www.fiercebiotech.com/story/burrill-biotech-faces-long-down-turn/2008-11-05
[3] http://www.fiercebiotech.com/story/economy-catches-biotech-investing/2008-08-29
[4] http://www.fiercebiotech.com/story/venture-funds-hit-brakes-biotech-investing/2008-09-03