As part of ACD440, a drug candidate focused on the treatment of peripheral neuropathic pain, will soon start its planned phase IIa study,
“The offset issuance strengthens the company’s liquidity and we are delighted that Acturum Life has chosen to demonstrate its confidence in AlzeCure and to actively support the further clinical development of ACD440”, said Martin Jönsson, CEO of
“Thus, we choose to invest in promising development work at AlzeCure,” says
ACD440, a TRPV1 antagonist and AlzeCure’s drug candidate for neuropathic pain within the company’s Painless platform, has in a previous phase Ib study shown positive proof-of-mechanism data, i.e. an analgesic effect in man. It was also well tolerated as a topical gel on the skin, indicating good suitability for further clinical development as a local treatment for neuropathic pain.
The transaction in brief
A compensation issue, in accordance with this decision, is, in the opinion of the Board, beneficial for the company and its shareholders because a long-term strengthening of the financial situation of the company takes place. Overall, the issue would contribute to creating value for all of the company’s shareholders.
The issue price is
Context and use of net cash
The board believes that an offsetting issue that strengthens the company’s cash flow and financial position enables related investments that the company has identified. AlzeCure’s projects are in an active development phase and this is a good opportunity to strengthen the Company’s financial situation. The capital provided will be used for studies already communicated and planned, including the upcoming phase II study with ACD440.