Uppsala, Sweden – April 4, 2019 – Gesynta Pharma AB announces in a press release completion of a 6 MEUR financing round, to provide funds for early clinical development of its lead candidate, GS-248. The company also writes that a consortium consisting of venture capital investor Industrifonden and a group of private life sciences investors provides financial and strategic support to Gesynta’s development programs and brings the company to its next pivotal milestone, to make GS-248 ready for Phase II clinical trials in 2020. In connection with the financing round, Gesynta strengthens its board through the addition of non-executive directors Bita Sehat, Investment Manager at Industrifonden, and William Gunnarsson, accomplished life science investor at BWG Invest sarl.
Gesynta Pharma, who owns all the rights to OX-MPI (GS-248), aims to develop a treatment for the microvascular diseases in chronic inflammatory conditions.
For more information read the full press release attached below.