Athera Biotechnologies raises MSEK 55 with the help of Sciety
This week, pharmaceutical company Athera Biotechnologies, completed a new share issue of SEK 55 million in which Industrifonden, Östersjöstiftelsen and the Sciety investment syndicate participated. The new capital is to be used for a clinical Phase 2 study and the company aims at being acquired by a major player after the study is completed.
Athera Biotechnlogies has developed a pharmaceutical candidate for an indication within vascular disease where there is currently no satisfactory treatment. After successful Phase 1 studies, the company has now raised capital to execute a clinical Phase 2 study after which an acquisition by a major pharma company is expected. The study will be undertaken at eleven hospitals and the first patients will be treated a couple of weeks after the studies are completed.
“Treatment focused on inflammation is expected to be the next big breakthrough in reducing mortality and illness due to vascular disease, and our pharmaceutical candidate has a major potential to become the first solution,” states Board Chairman, Gunnar Olsson, in a press release.
Taking part in the new share issue financing the study were a number of existing shareholders, including Industrifonden
“Athera is developing biological medicine to decrease the risk of heart failure after heart attacks through the treatment of inflammation in arteries. Today, there is no approved medicine to treat inflammation but clinical evidence from a large-scale study shows that this is an effective means of reducing the risk of illness. Athera is the leader in this important area and is, also, well positioned to be acquired within a couple of years, which is attractive to us and the investment syndicate ”, notes Andreas Lindblom, CEO of Sciety.
“Athera chose to work with Sciety as they have an effective process for capital acquisition, combined with specialist competence within life science and a strong network of investors. With the help of Sciety, Athera could quickly execute a new share issue. Both the management and owners are very satisfied with the cooperation,” states Carina Schmidt, CEO of Athera Biotechnologies.
About Athera Biotechnologies
Athera develops anti-inflammatory medicine to treat vascular disease and conditions with major medical requirements, with a focus on the pharmaceutical candidate ATH3G10. The main shareholders are Industrifonden, Östersjöstiftelsen and Linc AB. Athera has just now completed a new share issue with Sciety.
Sciety is an investment syndicate with a focus on Swedish growth companies within life science. If you wish to receive news about investment possibilities and invitations to presentations by companies’ management – apply here.