Lipum is supported by Horizon 2020, the EU framework program for research and development, and was granted 23 MSEK for the development of a biological pharmaceutical for treatment of chronic inflammatory diseases. In addition to this grant another 25 MSEK was raised in 2019. Now the capital needed to maintain the momentum has been secured in an 8 MSEK share issue.
– It has been a turbulent period on the financial market and I am grateful for the support from our shareholders. Current activities will increase our value and an interesting period is ahead of us, says CEO Einar Pontén.
Lipum lead candidate drug SOL-116 is a fully humanized monoclonal antibody, directed towards the unique target protein bile salt-stimulated lipase (BSSL), for treatment of chronic inflammatory diseases. A series A funding round is planned in beginning of 2021 to finance the preparation and start of clinical trials.