Gesynta Pharma secures 6 MEUR in financing round led by Industrifonden
Solna, Sweden - April 4th, 2019 - Gesynta Pharma AB ("Gesynta") announces completion of a 6 MEUR financing round, to provide funds for early clinical development of its lead candidate, GS-248. A consortium consisting of venture capital investor Industrifonden and a group of private life sciences investors provides financial and strategic support to Gesynta's development programs and brings the company to its next pivotal milestone, to make GS-248 ready for Phase II clinical trials in 2020. In connection with the financing round, Gesynta strengthens its board through the addition of non-executive directors Bita Sehat, Investment Manager at Industrifonden, and William Gunnarsson, accomplished life science investor at BWG Invest sarl.
Gesynta's lead candidate drug, GS-248 is a potent and selective inhibitor of microsomal prostaglandin E synthase-1 (mPGES-1). GS-248 will elicit its effect through a mechanism that provides combined anti-inflammatory, vasodilatory and platelet inhibitory effects and is being developed for treatment of microvascular diseases in chronic inflammatory conditions.
The investment entails securing 6 MEUR during 2019. In addition to concluding the Phase I clinical program and make GS-248 ready for Phase II, the funds will enable conduct of studies intended for nomination of a candidate drug from Gesynta's late-stage discovery portfolio that was recently acquired.
"Gesynta has a highly qualified and experienced team and development assets of huge potential. We look forward to the pleasure of working with the company to reach the next levels," says Jonas Brambeck, Investment Director of Industrifonden.
"We are encouraged to receive support not only from accomplished private life sciences investors, but also from the reputable venture capital investor Industrifonden. The commitment from these investors reflects a firm belief in Gesynta and its therapeutic concept, while also providing the company with funding as well as further competence and investor network." says Patric Stenberg, CEO of Gesynta Pharma AB.
For further information, please contact:
Gesynta Pharma AB Patric Stenberg, CEO Tel: + 46 (0)733 836670 E-mail: [email protected]
About Gesynta Pharma AB
Based on research from Karolinska Institutet, Gesynta leverages expertise in arachidonic acid research to explore the use of mPGES-1 inhibition in cardiovascular diseases and cancer. The clinical candidate, GS-248, is an oral small molecule being developed for the treatment of microvascular disease in chronic inflammatory conditions. When strategically optimal, Gesynta will seek pharma partners to efficiently make the new therapies available to patients and to achieve the full commercial potential of its products. Gesynta is a privately held Swedish company located in Stockholm operating with a team of experts in the fields of mPGES-1 medical research, drug discovery and clinical and business development.
Gesynta is located in the Karolinska Institutet Science Park, Sweden and has received support from Karolinska Institutet Innovations AB, NovoNordisk Foundation, Swelife and Vinnova.
For more information, please visit www.gesynta.se.
Industrifonden is one of the Nordic region's most active investors in the Life Science and
Technology areas. Within Life Science, Industrifonden focuses on pharmaceuticals,
medical devices and digital health.
For more information, please visit www.industrifonden.com.
Få löpande information från Gesynta via e-post.