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SomPharmaceuticals S.A.. (4/29/14). "Press Release: SomPharmaceuticals Closes Series A Financing". Lausanne.

Organisation Organisation SomPharmaceuticals S.A.
  Group Amryt Pharma (Group)
Products Product G02113 (SomPharmaceuticals)
  Product 2 venture capital
Index term Index term SomPharmaceuticals–SEVERAL: investment, 201404 private placement CHF750k Series A
     


SomPharmaceuticals S.A., a biopharmaceutical company developing novel therapies for rare diseases, announced today the closure of its Series A financing with an additional private placement of 750,000 CHF. Taken together with other private and public funding sources, SomPharmaceuticals' total gross proceeds reached its 1,100,000 CHF funding target.

"The additional private placement represents confidence in our lead development program, G02113, for the treatment of acromegaly and neuroendocrine tumours," stated Dr. Alan G. Harris, Chairman of the Board of SomPharmaceuticals. "By targeting two key somatostatin receptors, we believe that SomPharmaceuticals could develop an important new therapy for the sizeable populations of both acromegaly patients (50%) and neuroendocrine tumour patients who are currently not adequately controlled by or become 'resistant' to currently approved therapies."

The Series A funding will be used to complete the preclinical development of G02113 for acromegaly and to explore other potential preclinical candidates from the Company's somatostatin analogue library. SomPharmaceuticals anticipates initiating a Phase I/IIa clinical study of G02113 in octreotide-resistant acromegaly patients in Q1 2015.


About G02113

The Company's lead candidate therapy, G02113, is a dual-receptor specific somatostatin analogue which has enhanced affinity for the two somatostatin subtype receptors (SSTR) 2 and 5 that control hormones released from pituitary tumours causing acromegaly and also neuroendocrine tumours. G02113 is designed to overcome the limited efficacy of established somatostatin analogues, while avoiding the diabetogenic effects of newer somatostatin analogues.


About SomPharmaceuticals S.A.

Sompharmaceuticals S.A. is a biopharmaceutical company based at the Biopôle in Epalinges-Lausanne, Switzerland focused on developing novel anti-tumour somatostatin analogue peptide medicines and diagnostics for patients with rare diseases, who have unmet medical needs and whose treatments represent major market opportunities.


Contact

John Watson
General Manager
Phone +41 798183128
E-mail john.watson@sompharmaceuticals.com

   
Record changed: 2017-04-02

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