Pharmasum Therapeutics AS (“Pharmasum” or the “Company”), a neuroscience drug development company, is pleased to announce the successful completion of a share issue of NOK 8.3 million from Norwegian investors. The equity shall match public grants for development of new drugs for Alzheimer’s disease.
The team behind Pharmasum have extensive global experience developing and commercializing novel drugs for neurological diseases, and a solid technological platform supported by structural biology and computational drug design. There is an enormous unmet medical need and substantial interest in new drugs for diseases such as Alzheimer’s disease. “With a focus on the Down syndrome population, we hope to bring a drug for treating cognitive problems and dementia to the patients”, according to CEO Anders Fugelli, formerly of global strategy at GSK and Lytix Biopharma.“The capital together with non-dilutive funds from the Norwegian Research Council and Innovation Norway, allows us to accelerate drug development programs for disease of Down syndrome, such as Alzheimer´s disease and diabetes”, says Fugelli.
For further information, contact:
Anders Fugelli, CEO Andrew A. Parsons, Chairman
+47 924 81 432 +44 7854 029268