Press Release – Lipidor AB successfully completes private placement of 20 MSEK
Lipidor AB, a Swedish drug development company with an ongoing fully financed Phase III study for a psoriasis medication, has successfully completed a private placement of 20 MSEK from Swedish and international investors.
“We have received very positive feedback from both current and new investors on our outlooks as well as on our recent development progress. This private placement enables us to accelerate our development and commercialisation work.” – says Ola Holmund, Lipidor CEO
Proceeds from the private placement will be used to further advance Lipidor’s pipeline, with AKP 03 for bacterial skin infection expected to enter into Phase IIa studies during 2019. Lipidor’s ambition is to have four products based on the company’s formulation technology (AKVANO®) on the market within five years (2020–2024). All products are improved versions, so-called “super generics”, of well-established skin treatments.
Lipidor is currently preparing for an Initial Public Offering (IPO) where the company will raise additional funds to advance and expand the clinical program.
Lipidor develops innovative topical medications by reformulating well-established drug substances for its patented lipid-based delivery platform. The proprietary AKVANO technology improves established skin medications by making them more effective and easier to apply.
Lipidor has a drug (AKP 01) for psoriasis in a fully funded phase III trial under partnership with Cadila Pharmaceuticals, a leading Indian pharmaceuticals company. In addition, Lipidor has three drug candidates in development that are being prepared for clinical trials.
“As we are working with well-known substances, time to market is relatively short and the development risk is limited” confirms Ola Holmlund, Lipidor CEO. “This, combined with the high potential of our advanced pipeline, has attracted significant investor interest.”
Corpura Fondkommission AB acts as Lead Manager and Financial Advisor in connection with the Private Placement and the planned IPO.