Astion Pharma strengthens capital base

Copenhagen, Denmark-based Astion Pharma says it has raised 37.1 million Danish kroner ($6.5 million) of new capital and is strengthening its development activities in the field of dermatology. The capital was provided by the existing shareholders and will primarily be used to fund the firm's clinical projects and two late-stage preclinical development candidates.

Astion Pharma is focusing on developing pharmaceuticals for the treatment of severe skin diseases. It currently has three development projects in Phase II clinical studies for the treatment of hand dermatitis, seborrheic dermatitis and cutaneous lupus erythematosus in addition to a broad portfolio of product candidates and research programs in earlier phases. It claims to have achieved significant and favorable results in several of the company's development projects.