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Danish drug developer Action Pharma A/S raises EUR6m in financing round.

NORDIC BUSINESS REPORT-27 October 2006-Danish drug developer Action Pharma A/S raises EUR6m in financing round(C)1994-2006 M2 COMMUNICATIONS LTD

Danish biopharmaceutical company Action Pharma A/S said on Friday (27 October) that it has raised EUR6m in a new financing round.

The participants in the financing round were Swedish company InnovationsKapital and the Danish investors Growth Foundation and Incuba Ventures. The investors have an option of investing a further EUR3m in the company.

The investment allows Action Pharma to reach essential milestones in the development of its drug candidates, and takes the company closer to an IPO, according to Soren Nielsen, CEO of Action Pharma.

Action Pharma is based in Aarhus, Denmark. The company's core therapeutic focus is organ protection in severe cardiovascular diseases, such as myocardial infarction and post-surgical organ failure, as well as treatment of obesity, diabetes and inflammatory diseases. Action Pharma has a pipeline with eight drug candidates in different stages of drug development.

One British pound (GBP) is worth approximately 1.48 euros (EUR).

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Title Annotation:Action Pharma A/S
Publication:Nordic Business Report
Article Type:Brief article
Geographic Code:4EUDE
Date:Oct 27, 2006
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