Initiator Pharma secures funding for IPED2015 clinical Phase 2b study - signs financing agreement with MAC Clinical Research worth up to 23 MSEK
Initiator Pharma A/S, a clinical-stage biotech company today announced that it has secured funding of the continued Phase 2 clinical development of IPED2015 in organic erectile dysfunction (ED), through a convertible credit agreement worth up to 23 MSEK with the UK's largest independent clinical development organization, MAC Clinical Research. The agreement gives MAC Clinical Research the right to convert the credit into Initiator Pharma shares up to approximately 23 MSEK at a share price of 7.5 SEK upon the full completion of a planned Phase 2b study.Within the agreement, MAC Clinical