Umeå-based biotech company Vakona has raised new capital from a combination of existing shareholders and four new private investors. The funds will enable the company to complete the process development of its innovative active substance as it moves toward the clinical phase.
Umeå-based pharmaceutical company Vakona has been given a capital injection of just over SEK 14 million from five investors to help it develop a new drug to treat acne.
“This is a significant investment for us, as now we can continue with our product development”, says Gabriella Persson, CEO of Vakona.
Umeå-based pharmaceutical company Vakona has signed an agreement with French company GTP Tech to initiate the first manufacturing steps of its acne medicine.
“Production is at a level of quality that enables the medicine to be used in human clinical trials. If all goes well the medicine should be on the market within five to seven years”, says Mats Strömqvist, CEO and Chairman of the Board of Vakona.
Three investors are backing Umeå-based pharmaceutical company Vakona with funding worth millions of SEK.
“We are absolutely delighted and proud to have attracted this investment. It’s a reward for many years of hard work and takes us one step closer to clinical human trials”, says Gabriella Persson, CEO of Vakona.