Shield Therapeutics, a Wollerau, Switzerland-based specialty pharmaceutical company focused on the development and commercialization of late-stage mineral-derived hospital pharmaceuticals, has raised €8.2m in financing.
The investment, which was made by Inventages Venture Capital, is scheduled in two equal tranches over the next two years.
The company intends to use the funds to conduct international Phase III trials and subsequent filing of a marketing authorization application for ST10-021, a novel stable complex of ferric iron in an oral formulation initially being developed for the treatment of iron deficiency anaemia.
Shield Therapeutics will commence trials of ST10-021 in the second half of 2011.
In conjunction with the funding, Gunnar Weikert, the Chairman of Inventages, will join the company’s Board.
Founded in 2008, Shield Therapeutics is led by CEO Carl Sterritt.