Adenovir Pharma brings in MSEK 5.5 in preparation for the exit process

2016-04-27

Adenovir Pharma is pleased to announce that the company has performed a new share issue totaling MSEK 5.5 and that the company has started its exit process. The company develops a pharmaceutical against the contagious and serious eye infectious disease EKC (epidemic keratoconjunctivitis), caused by adenoviruses, that today lacks an effective treatment.

The innovative drug that Adenovir Pharma develops is a completely new type of eye drops that prevent the adenovirus from binding to receptors on the cells in the eye and thereby an infection is avoided.

Björn Dellgren, CEO/project leader at Adenovir Pharma said: “The share issue will contribute to conclude ongoing activities and the exit process. A large interest has been noticed from a number of larger pharmaceutical companies focusing on eye indications.”

Adenovir Pharma has previously demonstrated that its candidate drug (APD-209) is well tolerated and safe in a clinical phase I study. A phase IIa study has been completed at several eye clinics in Sweden, Germany and Poland and the results are expected in the second quarter 2016. The company has previous received a grant from VINNOVA, the Swedish Government Agency for Innovation Systems, for the pharmaceutical development of a second generation drug (APD-514) for the treatment of EKC.

Millions of people worldwide are affected every year 
External ocular infections caused by adenoviruses are among the most common eye infections worldwide, affecting millions of people every year. EKC is a serious and contagious eye infection caused by adenoviruses that can lead to sight impairment for a long time after the acute phase. Both the cornea and the conjunctiva are affected and the disease is very painful in the acute phase. EKC occurs all over the world but is most common in densely populated areas in Asia, where the disease is considered to be a major health problem. Between 20 and 50 percent of those affected suffer sight impairment that can persist for months and in some cases for several years. Sporadic outbreaks occur as epidemics in many regions. Currently there are no drugs against EKC and the persons affected thus get no treatment.

For more information about PULS (Partners for Development Investments in Life Sciences) visit www.pulsinvest.se.

For more information, please contact:
Björn Dellgren, CEO/Project Leader at Adenovir Pharma: bjorn.dellgren@adenovir.com,
+ 46 (0)70 745 5005.