Asarina Pharma IPO oversubscribed 175%: CEO welcomes new shareholders
With its IPO listing oversubscribed by 175%, Asarina Pharma is firmly in the investor and scientific spotlight. Here, CEO Peter Nordkild shares upcoming research and business highlights with the company’s new shareholders.
"The major commitments we received from large institutional investors in North America, Europe and Sweden reflect a historic shift in attitudes towards women’s health,” says Asarina Pharma CEO Peter Nordkild. “With a strong hereditary element PMDD has gone untreated and undiagnosed for generations. Our business strategy, combined with the pedigree of our research, means a dedicated treatment is finally on the horizon. As scientists, as investors and as a society we’re waking up to how widespread, debilitating and diagnosable conditions like PMDD and Menstrual Migraine are.”
What will the 150 MSEK raised in the IPO be used for? “We will initiate a major study of Sepranolone in Menstrual Migraine before summer 2019. Menstrual Migraine afflicts 1-in-5 women of fertile age, yet as with PMDD present migraine therapies do not work well in these women. Phase III trials including the US for Sepranolone will be carried out from 2021, with market launch set for 2023/4."
That’s the pipeline, what other strategies is the company pursuing? “Becoming a leading speciality pharma company in Women’s Health means taking a serious role in advocating for better understanding and diagnosis of PMDD and Menstrual Migraine. Both for people living with the condition, and for physicians. We’ll be supporting and getting involved with that on both sides of the Atlantic. For example in November we’re sponsoring the PMS Day event in Stockholm. In October we’ll be speaking at an evening for Women Investors and Entrepreneurs in Gothenburg. And our Chief Medical Officer and Scientific Advisory Board are all active in educating and raising research and knowledge about the diagnoses and treatments.”
Finally, the IPO was released to primarily Scandinavian investors on Nasdaq First North. How important is it that Asarina Pharma is a Scandinavian company? “Scandinavia has always had a proud record and strong, progressive values when it comes to women’s rights and health. The fact that the world’s first dedicated treatment for PMDD comes from Sweden is important. The company is built on over 40 years’ research from Umeå University and business-wise we are aiming to create and manage Sepranolone in Scandinavia as an independent company.”
For further information, please contact:
Peter Nordkild, CEO, Asarina Pharma AB
Phone: +45 25 47 16 46, e-mail: peter.nordkild@asarinapharma.com
TO THE EDITORS
About Asarina Pharma AB
We are a Swedish biotech company developing Sepranolone, the world’s first dedicated treatment for premenstrual dysphoric disorder (PMDD) and other menstrual-related conditions. Our product pipeline is built on over 40 years’ research into menstrual-related disorders like PMDD and menstrual migraine. With our new family of GAMSA compounds (GABAA Modulating Steroid Antagonists), we aim to deliver a new generation of safe, targeted treatments for still widely untreated conditions, and to become a leading specialty pharma company in Women’s Health. For more information, please visit: www.asarinapharma.com
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