Brussels, Belgium, November 30, 2012 –
Euroscreen, a drug development company focused on the development of novel GPCR drug concepts including next generation sex hormone control in woman’s health announced today that it has completed a €10 million Series A preferred stock financing led by Vesalius Biocapital II Partners and SRIW (Société Régionale d’Investissement de Wallonie SA).
The proceeds of the round will mainly be used to develop its main advanced product ESN364 for the treatment of endometriosis, a disease that affects 6-10% of women in childbearing age.
"We have been delighted to work with Vesalius and SRIW, and other new shareholders as LSRP (Life Sciences Research Partners VZW); SPDG (Société de Participation et de Gestion SA) and Hunza Ventures, in addition to our existing shareholders, to maximize Euroscreen’s potential to advance our lead program, ESN364 into clinical development.
Jean Combalbert, Euroscreen's CEO said "We thank those existing shareholders participating in this new financing round which included Fortis Private Equity, Compagnie du Bois Sauvage SA, Ackermans & Van Haaren NV, our university-based shareholders and some of our individual faithful shareholders”.
"These proceeds will be primarily used to fund the pre-IND, Phase I and initial Phase II clinical development of our ESN364 drug candidate in endometriosis,” Mr. Combalbert continued. “We expect to file for our IND with the FDA in mid-2013 and to begin Phase I clinical trials before the end of the year.
The availability of strong biomarkers will permit us to understand both safety and efficacy of our product candidate. We plan to advance into Phase II proof of concept studies in 2014."
Alain Parthoens, managing partner at Vesalius said, We are also excited about Euroscreen's pipeline of drug candidates for future development in other indications.”
Euroscreen has discovery and licensing partnerships with Boehringer-Ingelheim, Grunenthal, HGS, Monogram Biosciences, Novartis and Pfizer.
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