Avexxin AS, a Trondheim, Norway-based company focusing on the development of novel small molecule therapeutics for patients suffering from chronic inflammatory conditions, has held the the second close of its Series A financing round with existing shareholders (read here).
The company intends to use the funds to advance its lead compound against psoriasis. Proof-of-Concept trial in man is expected to commence late 2012.
Led by CEO Mikael Oerum, Avexxin also has pre-clinical development programs against other chronic inflammatory conditions, besides psoriasis such as arthritis, inflammatory conditions in CNS and in the intestinal system.
Backers in the company include Sarsia Seed, an early stage investment fund located in Bergen, Norway, and Leiv Eiriksson Invest, an early stage investment fund in Trondheim, Norway.