Euroscreen announces name change to Ogeda and completion of Series B financing
New identity reflects Ogeda's successful transition to GPCR drug discovery & development
October 19, 2016, 7 a.m. CET - Euroscreen today became Ogeda. The new corporate identity, as Ogeda, reflects the Company's primary focus on the discovery and development of first-in-class small molecule drug candidates targeting G-Protein Coupled Receptors (GPCRs). Ogeda also launched a new corporate website that is accessible on: www.ogeda.com
The launch of its new corporate brand follows the successful completion of the second and final tranche of the Company's EUR 18 million Series B financing, which was first announced in October 2015. The second tranche of funding was subject to the completion of clinical milestones with lead product ESN364, which is currently in three parallel Phase IIa trials for Menopausal Hot Flashes, PolyCystic Ovary Syndrome (PCOS) and Uterine Fibroids. All milestones were achieved ahead of schedule and the additional funds will be used to fully finance the ongoing clinical programs.
Jean Combalbert, CEO of Ogeda, said: "Our new identity reflects our ambition to continue to explore new frontiers in the discovery and development of medicines based on our long-established expertise in GPCRs. With the successful completion of the Series B funding round and our lead clinical trial program for ESN364 on track, we look forward to continued progress in inventing and developing innovative treatments in areas of significant unmet need."
Ogeda's services unit Euroscreen Fast, offering an integrated services solution for GPCR R&D projects, will continue to operate under its current name as a business unit of Ogeda.
Ogeda is a Belgium-based, privately owned Drug Discovery Company developing first-in-class small molecule drug candidates targeting G-Protein Coupled Receptors (GPCRs). The Company's orally-available and highly specific lead product ESN364 is currently in Phase II clinical development for the treatment of Women's Health Disorders. Ogeda has additional small molecules targeting GPCRs in preclinical development in multiple therapeutic areas including CNS, endocrinology and inflammation. Ogeda is backed by leading investors, including Vesalius Biocapital, Fund+ and SRIW. For more information, please visit: www.ogeda.com
ESN364 is a proprietary, oral, small-molecule, discovered and developed by Ogeda for the purpose of the treatment of Women's Health Disorders. ESN364 is superior to the existing, marketed GnRH ligands as it reduces levels of the ovarian hormones estrogen and progesterone in a non-castrating manner as required for the safe, effective treatment of UF and Endometriosis. In addition, its selective action on gonadotropins uniquely positions ESN364 for the treatment of PCOS. Furthermore, its mechanism of action to mimic the neuronal effects of estrogen to control body temperature supports the use of ESN364 to directly and safely address the basis for Hot Flashes in menopausal women.
|Ruth Devenyns||Jean Combalbert|
|Chief Financial Officer||Chief Executive Officer|
|+32 71 348 500||+32 71 348 520|
|Consilium Strategic Communications|
|Chris Gardner, Jonathan Birt, Hendrik Thys and Melissa Gardiner|
|+44 20 3709 5700|
Last updated on: 23/10/2016
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