Previous preclinical studies conducted by Lipum of the drug have shown very good results and the potential to provide better treatment of, for example, rheumatoid arthritis.
Now, thanks to a targeted new shares issues to institutional and private investors, Lipum has secured an additional SEK 25 million which will allow it to increase the pace of developmental work and means the next phase of producing a therapeutic antibody can begin.
“It’s fantastic news that we can now increase the speed of our development. Our existing and new shareholders believe in Lipum and actively contribute to our continued financing. Their commitment is of course very inspiring and means we are able to hire more people”, says Einar Pontén, CEO of Lipum.
Support from the EU and Vinnova
Lipum has previously been granted SEK 23 million from the EU’s Horizon 2020 program and received project support from Vinnova and SWElife as part of the ‘For better health’ program. For several years Lipum’s founders have also been backed by the national research center SciLifeLab.
The company aims to initiate clinical trials in 2021. In order to fund these trials preparations are being made to list Lipum on Nasdaq First North towards the end of next year.
Lipum has its origins in academic research, primarily at Umeå University, and is currently based at the Umeå Biotech Incubator. The researchers who founded the company are still significant stakeholders and active owners.