By Lisa Kerner
Erie, Pa., March 13 - Egalet a/s said it has closed a $27.6 million round of financing in a private placement.
The company will use the proceeds to take its leading proprietary drug candidates in the therapeutic areas of heart disease and pain management through final pivotal studies and to leverage its Egalet and Parvulet technologies.
The financing was jointly led by new investors Atlas Venture and Index Ventures. Current investors, Bio Fund, Dansk Kapitalanlaeg, Danske Bank and QueQuoin Holdings Ltd. also participated in the financing.
"Securing this major new funding and attracting leading international investors, such as Atlas and Index, demonstrates the significant opportunity inherent with Egalet," chief executive officer Jan Quistgaard said in a company news release.
"The support shown by our new and existing investors positions the company extremely well for future commercial success."
Seppo Makinen, senior partner, Bio Fund, was appointed chairman of Egalet's board of directors. Dr. Regina Hodits of Atlas Venture and Francesco de Rubertis of Index Ventures also joined Egalet's board.
Located in Copenhagen, Denmark, Egalet is a drug-delivery company focusing on formulation and development of oral controlled-release products.
| Issuer: | Egalet a/s
|
| Issue: | Private placement
|
| Amount: | $27.6 million
|
| Investors: | Atlas Venture (lead), Index Ventures (lead), Bio Fund, Dansk Kapitalanlaeg, Danske Bank, QueQuoin Holdings Ltd.
|
| Announcement date: | March 13
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
