Lipigon completes oversubscribed new share issue
Lipigon Pharmaceuticals has successfully closed a new share issue of nearly € 1,6 million. The capital raised will primarily be used to take the most advanced programme of the company towards clinical trials.
Lipigon Pharmaceuticals AB ("Lipigon"), developer of therapeutics for lipid-related diseases, today announced that it has successfully closed an oversubscribed new share issue. The share issue was supported by financial advisors G&W Fondkommission AB ("G&W").
The current financing round ends an intense spring for the company that started with the acquisition of the Lipisense program from Secarna in March, followed by the announcement in mid-May of the collaboration agreement with the world-leading screening company HitGen in order to find LPL activators. The capital will primarily be used to prepare the Lipisense program for clinical studies.
"We met a great deal of interest in this transaction, which ended up oversubscribed. We are pleased that our current shareholders continue to support us and are also happy to welcome our new investors.", says Dr. Stefan K Nilsson, co-founder and CEO at Lipigon Pharmaceuticals. "We see a great potential in all our projects, and now we have the means to execute on our plan. Lipisense is the most advanced of our programs and is now entering preclinical development and advanced planning for clinical studies. We will select a candidate drug during this year, and once this is done additional capital is needed for the following development steps. Therefore, we are aiming for a larger financing round in an Initial Public Offering (IPO)in the coming year."
Umeå June 30th 2020
For further information, please contact:
Stefan K Nilsson, CEO Lipigon Mobile +46 70-578 17 68 Mail: [email protected]
About Lipigon Pharmaceuticals AB
Lipigon develops novel therapeutics for patients with lipid- related disorders. The company is a spin-off from Umeå University, Sweden, based on five decades of lipid research. Our primary focus is orphan lipid disorders and in addition to the ANGPTL antisense program Lipisense, Lipigon's pipeline includes a program for gene therapy in lipodystrophy, together with Combigene AB (publ) and the third program with HitGen aiming at finding small molecule activators of LPL. www.lipigon.se
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