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MetrioPharm closes financing round of CHF20 million

13.12.2018 09:42

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Biotech company MetrioPharm has closed a financing round D. The funds will be used to further the advance the development of its lead compound which is currently in Phase II clinical testing in the indication psoriasis.

MetrioPharm is a pharmaceutical development company developing drugs for chronic inflammatory diseases such as psoriasis, arthritis, and multiple sclerosis towards the goal of reversing and preventing diseases of aging. Its lead compound MP1032 is currently in Phase II clinical testing (in the indication psoriasis). The company expects the results of this study in mid-2019. MetrioPharm plans to conduct another Phase II proof-of-concept study in a musculoskeletal indication.

The company has now closed its series D financing round. MetrioPharm CEO Wolfgang Brysch: "We are pleased to have completed the current financing round as planned in 2018. Altogether, new shares with a total issue amount of CHF 20 million were committed. These funds will enable us to further advance the development of our lead compound MP1032 and expand our portfolio of indications."

Rudolf Stäger, Chairman of the Board of MetrioPharm AG: "We would like to thank all the shareholders who again participated in this financing round for their confidence - and also all new shareholders. We warmly welcome you all to MetrioPharm AG. Together we will work towards fully developing the enormous potential of our lead compound MP1032".

(Press release)
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