Newron raises CHF27m
Neurology specialist Newron Pharmaceuticals S.p.A. (Milan) has raised gross proceeds of CHF 27m through a private placement of new shares via an accelerated book-building process.
The company placed 2,000,000 new shares at CHF 13.50 per share with institutional investors. The new shares represent 11.2% of the new total number of outstanding shares of 17,817,418. Newron said it will use the proceeds to finance R&D, clinical trails, particularly focusing on ist schizophrenia candidate evenamide and company operations
Newron has a focus on developing drugs for orphan indications and products that need specialized regulatory and development efforts. The company announced it is seeking opportunistic additions to the its pipeline.
Stefan Weber, CEO of Newron, commented: With Xadago® (safinamide) launched in twelve European countries by our partner Zambon and in the USA, by US WorldMeds, Newron’s focus is now on the results of its ongoing and potentially pivotal study with Sarizotan in Rett Syndrome, an orphan CNS disease, as well as completing the design of a potentially pivotal study with evenamide (NW-3509) in schizophrenia.
Roberto Galli, Newron’s Vice President of Finance, added: The funds raised are expected to support our activities through 2019, well beyond key inflection points of our pipeline products.
SLAS - Alexandra Csuport Photography
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