• 25 February 2014
    InDex Pharmaceuticals Closes $20 m Financing Round, Welcomes NeoMed as New Shareholder

    InDex Pharmaceuticals today announced the successful closing of a USD 20 million / EUR 15 million new rights issue. NeoMed led the oversubscribed financing round while current shareholders participated with 75% of the invested capital.

    In summer 2014, InDex Pharmaceuticals expects to report data from a Phase III study with its lead product candidate Kappaproct®, which is being developed for the treatment of severe Ulcerative Colitis (UC) – a debilitating, chronic inflammation of the large intestine.

    In conjunction with the investment, Dr. Erik Amble, Managing Partner and founder of NeoMed Management, has been appointed as a new member of the company’s Board of Directors. Dr. Amble has over 25 years of experience with venture capital investments in Europe and the U.S.

    ”We are very pleased to welcome NeoMed as a shareholder,” said Jesper Wiklund, CEO of InDex Pharmaceuticals. “NeoMed brings extensive experience with drug development as well as a strong network of industry contacts. These will be major assets as we move our lead drug candidate Kappaproct towards the market.”

    Erik Amble, Managing Partner of NeoMed Management added: “InDex Pharmaceuticals’ Kappaproct is a late-stage product candidate that meets a significant unmet medical need of this seriously ill patient group. The InDex team is impressively well qualified, and we look forward to working with them to build significant value for both patients and investors.”

    Since 2012, Kappaproct® has been investigated in the COLLECT trial, a European multicenter Phase III study to evaluate the effectiveness and safety for the treatment of chronic active, refractive ulcerative colitis (UC) patients. Kappaproct® is a DNA-based immunomodulatory sequence (DIMS) targeting the toll-like receptor 9 (TLR9). Primary endpoint of the COLLECT study is induction of clinical remission in severe UC patients, who have failed all other medical treatments and whose only remaining treatment option is colectomy.