The privately owned Danish biotech company Union Therapeutics has completed a capital injection of DKK 62 million.
The money comes from a group of existing and new investors through the issue of new shares. According to Union, the income makes it possible to speed up the development of the company’s clinical pipeline with the two lead molecules orismilast and niclosamide.
Orismilast is currently in two different phases 2 studies, and the US FDA has granted so-called fast-track status to the drug candidate, which can potentially treat psoriasis, atopic eczema, and the chronic skin disorder hidradenitis (HS).
“Union is approaching a new phase in development with expected data from ongoing clinical trials in four different indications within the next 12 months. Within each of these indications, we have the potential to address the significant unmet need for millions of patients worldwide, and we appreciate the continued support from our investors to realize this potential,” says CEO Kim Kjøller in the press release.
Read the full article at KapWatch right here.