Sciety raises new capital for pharma company within fat-related diseases
Lipigon Pharmaceuticals has raised SEK 8 million in a new share issue to finance the continued pre-clinical development of pharmaceuticals within fat-related diseases, so-called lipid-related disorders. Lipid imbalance cause common diseases, such as diabetes and cardiovascular diseases, but also a number of rare diseases currently lacking sufficient treatment.
Based on expertise from Umeå University, the company works simultaneously with a number of different indications. Special focus is on orphan drugs and the most advanced project is within Homozygous Familial Hypercholesterolemia HoFH where Lipigon uses a new mechanism to change dangerously high fat levels. The development takes place in cooperation with the German company Secarna, whose platform for antisense technology is used to develop the drug candidate.
“We see great potential in treatments where well-documented knowledge in genetics is used to create targeted treatments. By acting at gene level, one can influence the end products, that is the proteins, at an early stage”, says Andreas Lindblom, CEO of Sciety.
The company’s pharmaceutical program is based on extensive experience in research on how the body handles fats. By focusing on diseases where there are currently no treatments that provide a sufficient effect lacking sufficient treatment, the company can reach the market more quickly and, at the same time, build the basis for subsequently tackling larger common diseases.
Investors from the Sciety investment syndicate participated together with existing shareholders in the issue of SEK 8 million. The company aims to get listed in 2020 before the start of in-human studies.
“We are very pleased about the new share issue and welcome all new owners to Lipigon. We will now continue to work with the pre-clinical studies to be able to choose a final drug candidate for our main program during 2019 ”, notes Stefan K. Nilsson, CEO of Lipigon Pharmaceuticals.
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