InDex Pharmaceuticals Raises SEK75M
Published On January 21, 2011 |
InDex Pharmaceuticals, a Stockholm, Sweden-based clinical stage biopharmaceutical company that develops a drug for treatment of severe inflammatory bowel disease, has received a SEK75m equity investment.
Investors include new backer Industrifonden, which committed SEK40m, and existing shareholders, including SEB Venture Capital, which committed an additional SEK35m.
The company intends to use the capital to finance the final development stage of Kappaproct® , a drug for treatment of severe inflammatory bowel disease (IBD), before market launch, which is expected within a couple of years thereafter.
In the planned phase III trial, Kappaproct will treat severe ulcerative colitis patients who have failed other medical treatments and have only radical surgery as a remaining treatment option.
Resources will also be used to expand sales activities in the company’s diagnostics operation. The DiBiCol® test, which was developed along with key opinion leaders within gastrointestinal disease area, was launched in Sweden in 2009.
InDex Pharmaceuticals, which originated from research at the Karolinska Institutet in Solna, is currently led by CEO Svante Rasmuson.