Avexxin Completes Series B Round Financing
TRONDHEIM, Norway, November 12, 2012 /PRNewswire/ –
Avexxin AS, a company focusing on the development of novel small molecule therapeutics
for patients suffering from chronic inflammatory conditions, announces the closure of a
financing B round with new and existing shareholders.
Avexxin’s lead project against psoriasis is expected to enter clinical trial phase
I/IIa early 2013. The company also has pre-clinical development programs against
rheumatoid arthritis and glomerulonephritis.
Avexxin’s compounds target the group IValpha phospholipase A2 (GIValphaPLA2) enzyme,
which regulates cytokine induced activation of the pro-inflammatory transcription factor
nuclear factor-kappaB (NF-kappaB). This target has proven to play an important role in
many chronic inflammatory disorders.
Mikael Oerum, CEO of Avexxin: “We are pleased that the company has received
significant interest from new investors. The new funding will allow the completion of
clinical Proof-of-Concept in psoriasis in the spring of 2013, and the advancement other
programs in the company portfolio. Avexxin will over the next period be actively looking
for partners for its psoriasis project and other programs.”
For further information, please contact: Avexxin AS (http://www.avexxin.com) Mikael Oerum, CEO Tel: +45-40-64-00-04 e-mail: email@example.com or firstname.lastname@example.org
SOURCE Avexxin AS