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Pharmalink AB completes fundraising


STOCKHOLM, SWEDEN, November 14th, 2008. Pharmalink AB, the privately held Swedish specialty pharma company, today announces the successful completion of a funding round raising SEK 8 million. The funding was via an issue of new preferential shares to the Company’s existing shareholders. 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®, an effective treatment of IgA Nephropathy; Xepol®, the first effective treatment of neurology indication post-polio syndrome; and Busulipo™, a safer alternative for myeloablation prior to bone marrow transplantation.

Pharmalink has achieved several important product development and business related milestones in these projects in recent months including positive Phase III follow-up results for Xepol; promising interim Phase II results for Nefecon; and securing a key US patent for Busulipo.

“The new capital shows the confidence the founders place in our strategic direction and gives us greater strength and flexibility as we seek to maximize the value of our portfolio through the partnering of our Phase II projects,” says Johan Häggblad, managing director of Pharmalink AB.

Bengt Julander, founder and chairman of the board of directors at Pharmalink AB, added, “Pharmalink AB has shown the competence and drive necessary to achieve its objectives. The portfolio has grown considerably in value and every day we take important steps towards realizing the value of our mature projects. We are also active in the in-licensing of new development opportunities to drive the medium term growth of the Company. We believe this approach will deliver significant value to the shareholders.”

For further information, please contact:

Pharmalink:
Johan Häggblad, Managing Director, +46 (0)70 668 0644
Email: johan.haggblad@pharmalink.se
www.pharmalink.se

Citigate Dewe Rogerson:
Chris Gardner/Nina Enegren
Email: chris.gardner@citigatedr.co.uk
+44 (0) 20 7638 9751


About Pharmalink

Pharmalink AB is a privately held Swedish specialty pharma company that develops proprietary pharmaceutical products in fields of unmet medical need. Pharmalink has adopted a reformulation/repurposing strategy and has a vast international network of physicians, biotech companies, CMO:s,CRO:s and specialist consultants. Pharmalink has a track record of introducing more than 15 pharmaceutical products to market. Pharmalink currently has three clinical phase development projects, Nefecon®, Xepol® and Busulipo™, mature for out-licensing to commercial partners and also seeks to refill its development pipeline by inlicensing.


Publisher Contact Information:

Pharmalink
+46 (0)70 668 0644
johan.haggblad@pharmalink.se

Company profile of Pharmalink
Past press releases of Pharmalink.

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