MetrioPharm AG Closes Financing Round of CHF 20 Million
- MetrioPharm closes Private Equity Financing Round D
- Funds to be used for ongoing Phase II study and a Phase IIa study in an additional indication
Zurich, December 11, 2018. MetrioPharm AG, a clinical stage pharmaceutical development company, announces that it has successfully completed the current financing round D. MetrioPharm CEO Dr. Wolfgang Brysch: "We are pleased to have completed the current financing round as planned in 2018. Altogether, new shares with a total issue amount of CHF 20 million were committed. These funds will enable us to further advance the development of our lead compound MP1032 and expand our portfolio of indications."
MP1032 is currently in Phase II clinical testing (in the indication psoriasis). The company expects the results of this study in mid-2019. MetrioPharm plans to conduct another Phase II proof-of-concept study in a musculoskeletal indication.
Rudolf Stäger, Chairman of the Board of MetrioPharm AG: "We would like to thank all the shareholders who again participated in this financing round for their confidence - and also all new shareholders. We warmly welcome you all to MetrioPharm AG. Together we will work towards fully developing the enormous potential of our lead compound MP1032".
MetrioPharm AG is a pharmaceutical development company developing drugs for chronic inflammatory diseases such as psoriasis, arthritis, and multiple sclerosis. Such chronic diseases pose the greatest individual health risk. The goal of MetrioPharm AG is to make the therapy of chronic inflammatory diseases more effective and more tolerable. We hope to achieve a healthspan expansion for patients: We want to stop the progression of chronic inflammatory diseases as early as possible and significantly prolong the healthy lifespan of millions of people.
MetrioPharm AG was founded in 2007 and is headquartered in Zurich with research facilities in Berlin.
MP1032 is the lead compound of a class of proprietary immune modulators developed by MetrioPharm. MP1032 is believed to modulate the oxidative stress-mediated activation state of macrophages and downregulate the M1 state. In contrast to other immune-modulating and disease-modifying drugs, MP1032 does not impact T-cells and preferentially affects macrophages at the sites of inflammation. MP1032 has shown anti-inflammatory activity in animal models of disease and a favorable toxicology profile in pre-clinical studies.
For the first Phase II study with MP1032, the indication psoriasis was selected because this immune-induced inflammatory disease is regarded as a so-called »door-opener indication«. Successes in the treatment of psoriasis have already led to first indications of promise for use in other chronic inflammatory diseases, such as arthritis and multiple sclerosis.
This press release contains forward-looking statements that involve risks and uncertainties and are consistent with MetrioPharm's assessment as of the date of this release. Such forward-looking statements are neither promises nor guarantees, but are subject to numerous risks and uncertainties, many of which are beyond MetrioPharm's control, that could cause actual results to differ materially from those contemplated in these forward-looking statements. MetrioPharm does not assume any obligation to update forward-looking statements with respect to changed expectations or new events, conditions or circumstances on which these statements are based. A liability or guarantee and, if applicable, claims for topicality, correctness and completeness of these data and information are excluded and cannot be derived either explicitly or impliedly.
Head of Investor Relations & Corporate Communications
MetrioPharm Deutschland GmbH
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