Umecrine Mood AB, a Solna, Sweden-based company that develops novel products to treat the mental and physical symptoms associated with Premenstrual Dysphoric Disorder (PMDD) and severe Premenstrual Syndrome (PMS) caused by a endogenous Central Nervous System‐active steroid derived from the corpus luteum of the ovary, has closed an equity financing of undisclosed amount from Kurma Biofund.
The company intends to use the funds for the continued clinical development of its novel therapy to treat severe premenstrual symptoms. As stated by Umecrine Mood’s CEO Karin Ekberg, the financing will enable them to pursue clinical Phase I and II studies.
Following the transaction, existing investor Karolinska Development holds 39% of Umecrine Mood.
In addition, an extra shareholders meeting has elected Ola Flink as chairman, and Torbjörn Bäckström, Elias Eriksson, Alain Munoz, Thierry Laugel, and Otto Skolling as non-executive members the Board.