Action Pharma raises fresh capital from new and existing investors  

2008.01.18
Danish biotech company Action Pharma raises EUR 15m from new and existing investors to further its drug development
Danish biotech company Action Pharma has raised EUR 15m (USD 22.2m) from new and existing investors to further develop its pipeline of drug candidates, writes financial daily newspaper Børsen. The new investors, Swiss based Global Life Science Ventures and Scandinavia's SLS Venture, are investing EUR 8m (USD 11.8m), while existing investors InnovationsKapital of Sweden, Sunstone Capital and Inventure Capital of Denmark are putting in a total of EUR 7m (USD 10.4m).
 
Action Pharma's pipeline of drug candidates comprises seven projects of which two are in clinical development. The most advanced candidate AP214 for the prevention of organ damage in connection with major surgery for life threatening cardiovascular diseases, is expected to enter a phase II clinical trial in the US in H1 2008. The company’s second clinical compound AP1030 for the treatment of type 2 diabetes, will complete an initial phase I clinical study in Sweden in Q1.
 
Kuno Jung and Hans Küpper of Global Life Science Ventures said in a press release that Action Pharma meets all their investment criteria and that the company has a strong management team as well as an advanced pipeline in therapeutic areas with great potential.
 
Action Pharma was founded in 2000 and is based in Aarhus and Copenhagen. The company's main strategy is to bring drug candidates rapidly through pre-clinical development into clinical trials for subsequent partnering with major pharmaceutical and biotech companies.
 
Link > Action Pharma 

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