Action Pharma Completes €5M Financing Round

Action Pharma A/S, a Holte, Denmark-based biotech company which develops novel drug candidates targeting melanocortin receptors and brings these to the stage of clinical proof of concept for subsequent partnering, has completed a €5m financing round.
Investors in this round include existing shareholders of Action Pharma such as Sunstone Capital, Global Life Science Ventures, SLS Invest and InnovationsKapital.
The new capital will be used to advance the company’s ongoing phase 2a studies, and the initiation of a phase 2b study, for AP214, which is being developed for the protection of acute kidney injury in patients undergoing cardiac surgery under cardiopulmonary bypass as its lead indication.
Interim phase 2a efficacy and safety data are expected by the end of June 2010.

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