Action Pharma A/S : Strong Financing Round for Danish Action Pharma A/S.STOCKHOLM, Sweden -- Action Pharma A/S has received venture capital to assure rapid development of the company's pipeline of novel pharmaceuticals targeted at several major indications. A consortium of investors has invested 6 Mio Euro plus an option for investing additional 3 Mio Euro. The investors are InnovationsKapital (Sweden), Growth Foundation (Denmark) and Incuba Ventures (Denmark). Action Pharma A/S has a pipeline with 8 drug candidates in different stages of drug development. The most advanced program concerns drug candidates to prevent organ damage in connection with e.g. myocardial infarction myocardial infarction: see under infarction. or major surgery for life threatening cardiovascular diseases Cardiovascular disease Disease that affects the heart and blood vessels. Mentioned in: Lipoproteins Test cardiovascular disease . In addition Action Pharma has drug candidates targeted at type II diabetes Type II diabetes Type II diabetes is the most common form of diabetes and usually appears in middle aged adults. It is often associated with obesity and may be delayed or controlled with diet and exercise. Mentioned in: Diabetic Ketoacidosis and obesity. The 6 Mio Euro and the option for additional 3 Mio Euro allows Action Pharma to reach essential milestones in the development of the drug candidates and the company towards and IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. . In the process towards this we have worked closely together with the teams of the venture capital companies that have invested in Action Pharma A/S" comments SE[sup.1]ren Nielsen, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Action Pharma A/S. The venture capital will finance the development of the company through 2007. "It is a very important phase in the development of the company where Action Pharma is taking drug candidates into clinical development including a program in phase II and a program in phase" comments Jeppe Eyvlesen, CFO See Chief Financial Officer. of Action Pharma A/S. "I am very satisfied with the outcome of this financial round. The investment in Action Pharma A/S supports the major value creation in Action Pharma. The capital gives Action Pharma the necessary financial muscles to develop the potent pipeline. It is a major strength for the company that InnovationsKapital from Sweden now has entered the consortium of investors" comments Uli Hacksell, chairman of the board of directors. Ulf Tossman from InnovationsKapital in Stockholm, as new investor in the company confirms that he is very happy about the investment and sees major potentials in the business strategy towards an IPO. Action Pharma A/S is a biopharmaceutical company founded in 2000 and located in Denmark. Action Pharma is dedicated to the discovery and development of novel drugs with significant therapeutic improvement within inadequately treated cardiovascular diseases and diabetes. The core therapeutic focus of the company is organ protection in severe cardiovascular diseases such as myocardial infarction and post-surgical organ failure. Moreover, treatments of obesity or Type II diabetes as well as treatment of inflammatory diseases Noun 1. inflammatory disease - a disease characterized by inflammation disease - an impairment of health or a condition of abnormal functioning NEC, necrotizing enterocolitis - an acute inflammatory disease occurring in the intestines of premature infants; are also core areas. The technology and drug development platform with first in class drug candidates coupled with a strong patent portfolio gives the company a unique competitive position. The main strategy is to bring drug candidates rapidly through pre-clinical development Pre-clinical development is a stage in the development of a new drug that begins before clinical trials (testing in humans) can begin, and during which important safety and pharmacology data is collected. into clinical trials for subsequent out licensing. The goal is to bring 1-2 compounds into clinical development per year and currently the lead candidates are in clinical development. The business strategy is to commercialize drug candidates after clinical development phase I or II by partnering with major biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. and pharmaceutical companies. CEO - Prof. Soren Nielsen, MD, DMSci. Phone: +45 2324 4533; e-mail: sn@actionpharma.com CFO & VP Business development Jeppe Eyvlesen, MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration Phone: +45 2844 7567; e-mail: joo@actionpharma.com Action Pharma A/S Brendstrupgaardsvej 102 DK-8200 Aarhus N, Denmark www.actionpharma.com This information was brought to you by Waymaker http://www.waymaker.net |
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