About the transaction:
Umecrine Cognition has successfully carried out a private placement of approx. SEK 35 million to broaden the ownership base ahead of planned IPO and to finance the continued clinical development of the company’s drug candidate golexanalone.
About Umecrine Cognition:
Umecrine Cognition is developing golexanolone, a drug candidate with a completely new type of mechanism of action targeting the GABAA receptor in the brain. The drug candidate acts by attenuating the incorrect activation of the receptor that can occur in a number of cognitive and psychiatric diseases, thus restoring normal nerve signaling. Positive results from a phase 2 study of golexanolone in patients with hepatic encephalopathy, published in the highly regarded scientific journal Journal of Hepatology, justify the initiation of late clinical phase studies and the expansion of the development program to other disease areas of the central nervous system (CNS).
Novel, de-risked approach at validated CNS target offering substantial near-term upside potential
- Pioneer with a distinct approach in new, but validated area of neurobiology in CNS disorders driven by neuroinflammation
- De-risked lead asset, golexanolone, poised for late-stage clinical development and expansion into diseases with blockbuster potential
- Deep bench of expertise among management and BoD with industry/product approval experience, and close cooperation with established network of world-leading key opinion leaders ensures high-quality development programs. Supported by long-term specialist owner with skin in the game