Gesynta Pharma raises SEK 190 million and will initiate a phase 2 study for OX-MPI in Q4

Uppsala, Sweden – July 7, 2020 - Orexo AB (publ.), (STO:ORX) (OTCQX:ORXOY) – Orexo´s partner Gesynta Pharma which develops first-in-class therapeutics for chronic inflammatory conditions, with OX-MPI (GS-248) as the lead candidate, today announces it has successfully raised SEK 190 million in one of the largest private biotech placements of the year in the Nordics. The funding round was led by European life science fund manager Hadean Ventures, joined by existing investor Industrifonden and private funds.

The investments enables Gesynta to enter a phase 2 study in patients suffering from systemic sclerosis, a disease with a large unmet medical need. The studie is planned to be initiated in Q4, 2020, following the strong phase 1 study results, reported in May 2020.

For more information read Gesynta Pharma´s press release attached below.