Copenhagen based Zealand Pharma raises major new investment  

2005.01.12
Zealand Pharma has raised DKK 100 mn in new financing from investors including BankInvest, LD Pension and Dansk Erhvervsinvestering

Copenhagen based Zealand Pharma has raised DKK 100 mn (USD 18 mn) in new financing from existing investors BankInvest, LD Pension and Dansk Erhvervsinvestering. The Danish Fund for Industrial Growth has contributed to the financing through a loan-share swap as well as investing in the company. The new capital will enable Zealand Pharma to continue its ongoing clinical development programme.

 

Zealand Pharma has developed three compounds which are in clinical development. One of the compounds, a GLP-1 [Glucagon-Like-Peptide-1 – Ed] analogue for the treatment of Type 2 Diabetes, has been licensed to Sanofi-Aventis. A second compound, a gap junction modifier for the prevention of ventricular arrhythmia, has been licensed to Wyeth. In addition, Zealand Pharma is currently developing two other compounds; an aquaretic intended for acute heart failure, and a GLP-2 analogue for the treatment of chemotherapy-induced diarrhoea. The news is reported by daily financial newspaper Børsen and on Zealand Pharma's website.

 

Biopharmaceutical company Zealand Pharma was founded in 1998. It focuses on discovery of novel peptide based drugs and employs 48 people.

 

Link > Zealand Pharma 

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