Copenhagen, 30 September 2019 – Sunstone Life Science Ventures today announce it has invested in new portfolio company Stipe Therapeutics ApS (“STipe”), an immuno-oncology company dedicated to developing novel cancer therapeutics based on its first class drugs modulating the STING pathway. This is the second investment of its Life Science Ventures Fund IV. The total financing round is €20 million and proceeds from the financing will be used to prepare the company for clinical development.
Zealand Pharma A/S (“Zealand”) (Nasdaq: ZEAL), a Copenhagen-based biotechnology company focused on the discovery and development of innovative peptide-based medicines, announces positive results in the pediatric Phase 3 trial with dasiglucagon for severe hypoglycemia in diabetes. Dasiglucagon is a potential first-in-class soluble glucagon analog invented and developed by Zealand. It is being developed in the ready-to-use HypoPal® rescue pen: an auto-injector for easy, fast and effective treatment of severe hypoglycemia in people with diabetes.
Sunstone Life Science Ventures today announced its first investment out of its Life Science Ventures Fund IV into Forendo Pharma, a Finnish clinical stage drug development company focusing on novel treatments in women’s health. The investment is designated to finance the continuation of Forendo Pharma’s positive Phase Ia study in post-menopausal women into Phase Ib in pre-menopausal women, and later Phase II for the treatment of endometriosis.
Sunstone today announced that its Life Science Ventures Fund I has made a non-revocable commitment to sell all shares in Nuevolution AB at a price of SEK 32.5 per share.
Nuevolution has been part of Sunstone’s portfolio since 2007 and Sunstone has played an active role in developing the company to a stage that has motivated Amgen to make a bid for it. Sunstone is the biggest shareholder (20.7 %) and has participated in all financings and has been represented on Nuevolution’s board of directors for more than 10 years. During this period Nuevolution has matured from an intriguing startup to a novel discovery platform company, now impacting how small molecules drugs are being developed in the pharmaceutical industry.
Nasdaq Stockholm AB has today decided to admit the shares of Ascelia Pharma AB (“Ascelia Pharma” or the “Company”) for trading on Nasdaq Stockholm with first day of trading tomorrow, Wednesday 13 March 2019. The shares will be traded under the ticker ACE and ISIN SE0010573113. The offering in Ascelia Pharma AB in connection with the listing on Nasdaq Stockholm was, as previously communicated, significantly oversubscribed. The offering provided Ascelia Pharma with approximately SEK 200 million before deductions for expenses related to the offering.