Cinclus Pharma Raises SEK 250 Million for the Continued Development of a Novel Treatment Against Gastroesophageal Reflux Disease
Cinclus Pharma Raises SEK 250 Million for the Continued Development of a Novel Treatment Against Gastroesophageal Reflux Disease
03/05/20, 2:34 PM
Location
stockholmCinclus Pharma Holding AB ("Cinclus Pharma") announced today that the company has successfully completed a financing round of SEK 250 million to fund the further clinical development of X842 – a clinical-stage drug candidate for the treatment of gastroesophageal reflux disease (GERD). The Fourth Swedish National Pension Fund (AP4) joined as a new major shareholder through the issue, which was also subscribed by, among others, the current shareholders Bengt Julander, Jonas Sjögren and Recipharm Venture Fund. X842 has the potential to alleviate GERD symptoms and heal esophageal injuries more effectively than current pharmaceutical therapies.
Company Info
Location
stockholm, stockholms län, sweden
Additional Info
The Swedish based company Cinclus Pharma Holding AB is the 100% owner of Cinclus Pharma AG, a research-based biotech company, based in Basel, Switzerland. It develops small molecules for the treatment of gastric acid related diseases. Its lead candidate, X842, has successfully completed a Phase I clinical trial. The company have an experienced management team with deep knowledge in the different aspects of drug development and business development, coming from both the multinational sector as well as the biotech sector. The management team is highly experienced in the GI area (AstraZeneca, Glaxo and Novartis). www.cincluspharma.com. About GERD