Perfect timing for Anamar finance

 The Medicon Valley Academy member Anamar Medical has received new financing of SEK 50 million from its largest owner, Koncentra Holding. This extra financing will help strengthen the company’s balance sheet before it goes about out-licensing its first drug candidate.

Anamar will shortly out-license its first drug candidate AMAP102, a melanocortin receptor (MCR) agonist. The substance is a whole new working mechanism for the treatment of inflammation and it has been documented for rheumatoid arthritis.

The injection of SEK50 million will help strengthen Anamar’s balance sheet before the out-licensing of AMAP102. The company’s largest owner Koncentra Holding will sign for SEK 50 million of new shares, of which Linkmed, the second largest owner, has the option to sign for shares worth SEK 7.5 million.

”Anamar Medical is the first in the world to present a MCR-agonist with anti-inflammatory effects,” says Managing Director Owe Gårlin. “To start licensing discussions with such early support from our owners gives us a good negotiating position.”

In preclinical studies, AMAP102 was documented for rheumatoid arthritis, but it can also be expected to have an effect on other inflammatory diseases. Anamar aims to license out AMAP102 for use in all types of inflammatory diseases which would give a future partner the opportunity to develop substances for diseases such as asthma, KOL, Alzheimer’s disease, cancer and MS.

Source: BiotechSweden 16.11.2006. 

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