Press Release: Astion Pharma Gets DKK 50 Million to Accelerate Phase III of its Drug Candidate ASF-1096
Astion Pharma Gets DKK 50 Million to Accelerate Phase III of its Drug Candidate ASF-1096 COPENHAGEN, June 13 -- Astion Pharma A/S has received DKK 50 million of fresh capital from its existing shareholders to accelerate Phase III of its dermatological drug candidate ASF-1096. Astion Pharma recently completed a Phase I development programme for ASF-1096 for the treatment of the serious skin disease, cutaneous lupus erythematosus. The results from the Phase I programme are very favourable, and the Phase II studies with patients are already so far advanced that the company expects to begin Phase III development in the next six to twelve months. That is about six months earlier than expected until now. The consortium of owners has decided to provide additional capital to the company so that the planning of Phase III can be started up immediately. - ASF-1096 is the development programme we expect to move into Phase III first. The capital injection ensures the company time to work with ASF-1096, and it also means that we do not have to lower the pace of development of our other drug candidates, said Henrik Moltke, CFO. One of the other development programmes which the company expects to move into Phase III around the turn of the year is ASF-1057 for the treatment of seborrheic dermatitis. ASF-1057 is currently undergoing Phase II studies in patients in France and the United Kingdom. Astion Pharma A/S develops pharmaceutical products for the treatment of skin diseases. It is estimated that one person in four worldwide will suffer from a skin diseases sometime in life, causing a deterioration of their quality of life. It is the Company's goal to become a leading player in the treatment of skin diseases for which there is currently a major need for new and better therapies. Astion Pharma has a strong platform of proprietary technologies for the development of new and innovative products. The Company pursues development activities through a strong international network of scientific partners and leading contract research organisations. The Company currently has three development projects in Phase II clinical studies in hand dermatitis, seborrheic dermatitis and cutaneous lupus in addition to a large portfolio of product candidates and research projects in earlier phases. For additional information please visit our web site: www.astion.com.