APEIRON Biologics closes oversubscribed financing round of EUR 17.5 million for the development of APN01 against COVID-19
DGAP-News: APEIRON Biologics AG
/ Key word(s): Financing
APEIRON Biologics closes oversubscribed financing round of EUR 17.5 million
Expansion of the ongoing phase II clinical trial to USA and Russia planned
"We would like to thank our existing and new investors as well as the public institutions and banks who support our development activities for urgently needed treatment options," said Peter Llewellyn-Davies, CEO of APEIRON Biologics AG. "It is particularly gratifying that the financing round was oversubscribed and that we were also able to attract renowned and future-oriented investors as new shareholders."
APN01 (rhACE2) is one of the most advanced drug candidates for the treatment of COVID-19 and one of the few therapy approaches specifically directed against the corona virus. According to experts, if the current phase II study is positive, accelerated market approval could probably take place.
The company plans to expand the Phase II trial, which has been launched in Austria, Germany, Denmark and the UK, to the USA and Russia. The double-blind, randomized, placebo-controlled study aims to treat 200 patients with severe COVID-19 disease.
About APEIRON Biologics AG
APEIRON Biologics AG, is a European private biotechnology company based in Vienna that specializes in the discovery, development and commercialization of novel immunotherapies for cancer and respiratory diseases. The approved product Qarziba(R) and APEIRON's projects and technologies are based on a strong patent portfolio and partnerships with leading pharmaceutical companies and academic institutions.
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03.06.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.