UNION therapeutics completes 62 million DKK private placement to support clinical program
Hellerup, Denmark, 1 December 2022 – UNION therapeutics A/S (UNION), a privately-held, multi-asset, clinical stage, pharmaceutical development company focused on immunology and infectious diseases, today announced the completion of a 62 million DKK capital raise from a group of existing and new investors through issuance of new shares.
The proceeds enable accelerated development of UNION’s clinical pipeline with the two lead molecules orismilast and niclosamide. UNION is developing orismilast modified release (MR) tablet as a potential first-in-class or best-in-class treatment for immunological diseases, currently in development for psoriasis, atopic dermatitis (AD), and hidradenitis suppurativa (HS), as well as niclosamide nasal spray currently in development for the prevention of COVID-19 for immunocompromised patients.
Kim Kjøller, Chief Executive Officer of UNION therapeutics said:
“UNION is approaching a new stage of development with expected data read out from ongoing mid-to-late-stage clinical trials in four different indications within the next 12 months. In each of these indications, we hold the potential to address significant unmet needs for millions of patients worldwide, and we appreciate the continued support from our investors in realizing this potential.”
Contacts
Morten Boesen, Chief Financial Officer, UNION therapeutics A/S
+45 2381 5487
morten.boesen@uniontherapeutics.com
Sarah Toft-Jørgensen, Director of Communications and IR, UNION therapeutics A/S
+45 5385 3044
About UNION therapeutics
UNION therapeutics is a privately held, multi-asset, clinical stage, pharmaceutical development company focused on immunology and infectious diseases. The company is currently working with two complementary chemistry classes, spanning immunology and microbiology with multiple candidates in clinical development. UNION is headquartered in Hellerup, Denmark, and led by an international team combining biotech entrepreneurs and seasoned pharma executives, with a track record of developing and launching more than fifteen marketed drugs. Read more at www.uniontherapeutics.com