Moberg Derma raises SEK 40 million in a new issue to finance the company’s continued expansion
3/3/2008 2:50 AM EST
The Swedish pharmaceutical company Moberg Derma, which focuses on skin diseases, has completed a new issue generating SEK 40 million (EUR 4,3 million). The issue has been subscribed by a new private investor and the current principal owner, the Baltic Sea Foundation (Östersjöstiftelsen). Including this new issue, the company has raised SEK 73 million (EUR 8 million) since its founding in March 2006.
“We are very pleased with the interest investors have shown in Moberg Derma despite the harsh market climate. This new issue provides a strong basis for the company’s continued expansion. We have strengthened the group of investors and also secured capital for a period after completion of our ongoing phase III programs,” says Peter Wolpert, CEO of Moberg Derma.
Moberg Derma is developing several dermatological pharmaceuticals based on the patented Kaprolac® principle. The company is currently conducting two phase III clinical trials: K101 against nail fungus (onychomycosis) and K301 against seborrheic dermatitis. The results of the studies are anticipated in the second half of 2008.
The company is planning to initiate clinical trials during 2009 for a third product candidate, K201 against atopic dermatitis, and to evaluate other product candidates this year to expand the project portfolio.