Danish biotech firm gets more cash for product development  

2007.04.03
Bourse candidate Egalet has secured another USD 19 m from the same investors that put USD 31 m into the company a year ago
Bourse candidate Egalet, a Danish biotech firm which develops drug delivery technologies, has secured another DKK 107 m (USD 19 m) from the same group of investors that just a year ago put DKK 172 m (USD 31 m) into the company.
 
Egalet focuses on creating innovative pharmaceutical products using two proprietary technologies - Egalet and Parvulet. The former allows almost any pharmaceutical to be incorporated into a controlled release tablet formulation, while the latter combines taste masking and easy-to-swallow characteristics that can improve treatment compliance, especially among children.
 
The company currently has a pipeline of four products in clinical development, two of which are entering late-stage pivotal studies in the cardiovascular and pain markets. Egalet will be looking to licence out these products as the development process nears completion.
 
The company's investors are Atlas Venture (US), Index Ventures (Switzerland), BioFund (Finland), Dansk Kapitalanlæg (Denmark), Danske Bank (Denmark) and QueQuoin Holdings (Jersey). The news was reported by financial daily newspaper Børsen.
 
Link > Egalet  

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