ResoTher Pharma ApS, a Danish biotech company, today announces the successful completion of a new share issue. The transaction was completed with share subscriptions from existing and new investors in collaboration with North Finance A/S, a Danish corporate finance advisor.
“ResoTher Pharma is very pleased to announce the results of the capital raise. This round significantly expands our investor base and paves the way for future success with our novel peptide drugs, targeting resolution of inflammation”, says CEO Lone Veng. Proceeds of the round will fund preparation for and conduct of phase I trials for RTP-026, the company’s lead drug candidate aimed at reducing cardiovascular injury following heart attack. The phase I trials are expected to start in Q4 2021.
The round, originally intended to raise DKK 25-35M, was oversubscribed by 45%. In an effort to satisfy investor demand, the company expanded the offering with additional 8800 shares, for additional proceeds of DKK 3.8M, to cover repayments of debts.
“We are grateful for the very enthusiastic support of both existing and new investors”, says CEO Lone Veng “and have used the momentum to strengthen the company financially, so we are better equipped for our future journey. Also, the capital infusion will enable us to advance our lead asset, RTP-026, into human clinical testing in 2021, executing on our strategy to validate the safety and effectiveness of this promising new medicine in humans”.
For further information, please contact:
Chief Executive Officer
M: +45 41889570
About ResoTher Pharma
ResoTher Pharma is a Danish biotech company focussed on novel peptide drugs for resolution of inflammation. The company’s research is based on scientific discoveries and IP acquired from the William Harvey Research Institute at Queen Mary University, an institution under Barts and the London School of Medicine and Dentistry. The goal of the company is to develop safe and effective treatments for patients suffering from inflammatory disorders based on a novel immune-modulating principle, FPR2 agonism, resulting in rapid resolution of inflammation and induction of tissue regeneration. The company´s lead asset RTP-026 is being developed as a tissue protective treatment for heart attack patients, an area of great unmet medical need.