Avexxin Closes Series B Financing

Avexxin AS, a Trondheim, Norway-based company focusing on the development of novel small molecule therapeutics for patients suffering from chronic inflammatory conditions, has closed a Series B financing round of undisclosed amount.

Backers include Sparebank1 SMN Markets, Sarsia Seed and Leiv Eiriksson Nyskaping.

Led by Mikael Oerum, CEO, Avexxin has lead project against psoriasis, which is expected to enter clinical trial phase I/IIa early 2013, as well as pre-clinical development programs against rheumatoid arthritis and glomerulonephritis.

The company intends to use the new funding to complete clinical Proof-of-Concept in psoriasis in the spring of 2013, and to advance other programs in the pipeline.



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