iCoat Medical, the Swedish pharmaceutical company pioneering drug development for comprehensive prevention of the innate immune system, has successfully completed a Pre-IPO capital raise of SEK 40 million. iCoat Medical will use the funding for its upcoming First In Human – study and advance its two product families TUM012 and TUM020.
TUM012 is a novel treatment with a purpose to minimize ischemia-related inflammation arising from kidney and other solid organ transplantations. iCoat Medical will focus on kidney transplants in its First In Human – study but will in parallel advance its preparations for additional indications.
“The organ transplant market is a large and rapidly growing segment in the pharmaceutical industry driven by the global deficit of organs available for transplantation, the severe economic costs of kidney treatments and our expanding population. We have a unique opportunity to leverage our significant experience and patented technology platform to build a portfolio of Orphan Drug Designated – pharmaceutical products targeting Ischemia Reperfusion Injuries with blockbuster potential. With this funding, we take one step forward towards becoming a pharmaceutical company in clinical stage. We are very grateful for the support and trust from existing and new investors” says Peder Waern, CEO of iCoat Medical.
ABG Sundal Collier acted as Sole Financial Advisor to iCoat Medical.
Advokatfirman Lindahl i Uppsala acted as legal advisor to iCoat Medical.
Peder Waern, CEO
M: +46 703 31 31 03