Astion Pharma receives another DKK 50 million in fresh capital  

2006.07.11
For the second time in just 12 months, Copenhagen based Astion Pharma has received a DKK 50 m capital injection from its existing shareholders

For the second time in just 12 months, Copenhagen based Astion Pharma has received a DKK 50 m (USD 8.5 m) capital injection from its existing shareholders. This will enable the company to strengthen its current dermatological drug development activities.

“This capital increase supports our goal of advancing the development of our projects as much as possible in order to increase their value,” comments Astion Pharma's CFO Henrik Moltke, who recently joined the company from Neurosearch, where he headed investor relations.

Astion Pharma currently has three products in phase II clinical studies for the treatment of hand dermatitis, seborrheic dermatitis and cutaneous lupus, respectively. If all goes well, the company expects to initiate phase III trials early next year.

“We intend to wait until late in the development process or in connection with regulatory approval of a new drug to decide whether sales and marketing should be handled in house or wholly or partially by a licensee,” says Moltke.

Astion Pharma has a platform of proprietary technologies for the development of new and innovative products, and pursues development activities through an international network of scientific partners and leading contract research organisations.

Link > Astion Pharma 

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