Zealand Pharma raises multimillion investment  

2006.09.06
Denmark's Zealand Pharma has raised DKK 216 m in capital from current investors for further development of drugs for heart disease and cancer treatment, and for bringing several new drugs into clinical development

Danish biopharmaceutical company Zealand Pharma has raised DKK 216 m (USD 36.6 m) in capital from current investors for further development of drugs for heart disease and cancer treatment, and for bringing several new drugs into clinical development. Investors include BankInvest, the Employees Capital Pension Fund, CDC Enterprises Innovation, AGF Private Equity and Life Sciences Partners.

Eva Steiness, CEO of Zealand Pharma says: "The capital injection provides the necessary funding of Zealand Pharma's research and development efforts for the next two to three years, which is a pivotal phase for the company. We are about to take one of our most advanced projects into the final phase of the clinical development cycle, and at the same time we expect to initiate clinical development of several compounds from our drug discovery process."

Copenhagen based Zealand Pharma was founded in 1998. The company focuses on discovery and development of novel peptide based drugs. Zealand's pipeline includes three compounds currently in clinical development, two of which have been licensed out to Sanofi-Aventis and Wyeth respectively. The news was reported by national daily newspaper Berlingske Tidende and on Zealand Pharma's website.

Link > Zealand Pharma 

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