Strong financing round for Danish Action Pharma A/S

The Medicon Valley Academy member Action Pharma A/S has received venture capital to assure rapid development of the company’s pipeline of novel pharmaceuticals targeted at several major indications. A consortium of investors has invested 6 Mio Euro plus an option for investing additional 3 Mio Euro. The investors are InnovationsKapital (Sweden), Growth Foundation (Denmark) and Incuba Ventures (Denmark).

Action Pharma A/S has a pipeline with 8 drug candidates in different stages of drug development. The most advanced program concerns drug candidates to prevent organ damage in connection with e.g. myocardial infarction or major surgery for life threatening cardiovascular diseases. In addition Action Pharma has drug candidates targeted at type II diabetes and obesity.

The 6 Mio Euro and the option for additional 3 Mio Euro allows Action Pharma to reach essential milestones in the development of the drug candidates and the company towards and IPO. In the process towards this we have worked closely together with the teams of the venture capital companies that have invested in Action Pharma A/S” comments Søren Nielsen, CEO of Action Pharma A/S.

The venture capital will finance the development of the company through 2007.

Source: Press-release 26.10.2006.

Read more at the Action Pharma homepage.