Curalogic plans IPO through Copenhagen Stock Exchange this year  

2006.05.17
Danish biopharmaceutical company Curalogic is planning an IPO through Copenhagen Stock Exchange this year with target proceeds of approx. DKK 200 m

Danish biopharmaceutical company Curalogic is planning an IPO through Copenhagen Stock Exchange this year with target proceeds of approx. DKK 200 m (USD 34 m) which will cover the company's operations for two years. During that period, Curalogic plans to have its first product for the treatment of allergy ready for approval in the EU area, as well as advancing the clinical development of two other products.

Curalogic aims to develop a new regime for the treatment of allergy with drugs which are as efficient as injections and at the same time as easy and safe as well-known symptom relieving drugs like antihistamines and nasal sprays. Curalogic has three products in clinical development and one in preclinical development.

During the past 20 years the number of allergy sufferers in the industrialised world has doubled, and 20-25% of this population, corresponding to 125-150 million people, suffers from allergy. The drug which Curalogic has developed furthest is a treatment for allergy caused by ragweed (Ambrosia). In the US alone 29 million people are estimated to suffer from ragweed allergy. The news was reported by national daily newspaper Jyllands-Posten and on Curalogic's website.

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