Zealand Pharma gets welcome capital injection  

2003.03.24
Drug development company Zealand Pharma gets USD 5.5 million capital injection from existing shareholders

The biopharmaceutical drug development company Zealand Pharma has obtained a DKK 38 million (USD 5.5 million) capital injection from its existing shareholders. One of these is BankInvest, which has contributed DKK 15 million (USD 2 million). The additional working capital will keep Zealand Pharma financially afloat into 2004, writes national broadsheet Jyllands-Posten.

 

Zealand Pharma’s strategy is to out-license the most promising drug candidates to larger pharmaceutical companies which can finance continued development. The company’s most advanced project is a new drug for the treatment of type II diabetes (codenamed ZP 10), which has shown promising results in clinical trials in humans. Zealand Pharma was founded in 1998 and is located in Medicon Valley close to Copenhagen.

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