Pharmalink AB, a Stockholm, Sweden-based specialty pharma company, raised SEK100m (€10.5m/US$12m) in mezzanine financing.
Backers included existing investors Investinor and Industrifonden.
The company intends to use the funds to prepare a Phase 3 clinical development program for its lead product candidate Nefecon* for the treatment of primary IgA nephropathy, an inflammatory disease of the kidney that in up to 40% patients progresses to end-stage renal disease.
Led by Johan Häggblad, Managing Director, Pharmalink is planning to undertake an Initial Public Offering on Nasdaq Stockholm in 2016, pending favourable market conditions, primarily to fund the clinical development of Nefecon towards market approval and commercialisation in key territories.
*Nefecon is a potential disease-modifying treatment for patients with primary IgA nephropathy (IgAN) at risk of developing end-stage renal disease (ESRD).