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
MetrioPharm AG, a clinical stage pharmaceutical development company, announced 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".
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.