Pharmalink completes $1M funding round to support Ph II testing
Pharmalink AB has completed a funding round raising 8.0 million Swedish kronor ($1.0 million) via an issue of new preferential shares to existing shareholders. The privately-held Swedish drug company noted that previous ownership ratios were maintained.
The proceeds of the new issue will be used to further accelerate the development of Pharmalink's prioritized Phase II projects. These include Nefecon, a treatment of IgA nephropathy; Xepol, the first potential treatment of the neurology indication, post-polio syndrome; and Busulipo, a safer alternative for myeloablation prior to bone-marrow transplantation.
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