We are pleased to announce that we have successfully closed a financing round of ISK 110 million (800.000 EUR). The financing was led by a syndicate of funds and angel investors. Existing investors also substantially participated in this financing.
The funds will be used to advance the pre-clinical development of the our lead program of proprietary products called “Barriolides” for the treatment of Chronic Obstructive Pulmonary Disease (COPD), the leading respiratory disease with over 70 million patients worldwide that has significant unmet medical need and is an increasing burden globally.
“Barriolides” are novel molecules having barrier enhancing and potentially also the anti-inflammatory activities of azithromycin, but without anti-microbial activity that open the way for a new class of drugs that are effective and easy to administer to patients for several diseases, with potential for treating conditions even outside the respiratory field.
Commenting on EpiEndo’s future, Fredrik Lehmann, CEO of EpiEndo, stated:
“I am extremely pleased to be joining such a great team to develop what could be the next generation of treatments for a number of important respiratory diseases. EpiEndo scientific team has meticulously developed the novel Barriolide technology over a number of years, and with this recent funding we will be able to advance this important program of work to choose our first clinical candidate (CD) in 2019.”
Professor Clive Page, Chairman of EpiEndo’s Board of Directors said:
“Considering both the lead program and the breadth and depth of possible therapeutic applications for “Barriolides”, the commercial potential of EpiEndo is clearly very exciting.”