Anamar

ANAMAR MEDICAL BEGINS OUT-LICENSING OF NEW MCR AGONIST, OBTAINS SEK 50 MILLION IN NEW FINANCING

Pressmeddelande   •   Nov 16, 2006 10:06 CET

The biotech company AnaMar Medical AB has secured SEK 50 million in new financing from its principal owners prior to out-licensing its first drug candidate, AMAP102, which has been documented for rheumatoid arthritis.

AnaMar Medical has initiated efforts to out-license its first drug candidate, AMAP102, a melanocortin receptor (MCR) agonist. The compound offers a novel strategy for treating inflammation and has been documented for rheumatoid arthritis.

Prior to out-licensing AMAP102, AnaMar Medical is strengthening its balance sheet through a commitment from its largest owner, Koncentra Holding, to subscribe for new shares for SEK 50 million, of which LinkMed, the second largest owner, has the opportunity to subscribe for shares for SEK 7.5 million.

"AnaMar Medical is the first company in the world to introduce an MCR agonist with anti-inflammatory effect. We feel it has the potential to reach large patient groups in need of effective treatment forms," says AnaMar Medical President Owe Gårlin. "Starting licensing discussions with the firm support of our owners puts us in a
good negotiating position."

A new class of drugs to treat rheumatoid arthritis, called TNF-alpha inhibitors, was launched earlier in the decade. These drugs have grown strongly, with sales reached 8 billion dollars in 2005. Treatments are relatively expensive and are administered intravenously. Like these drugs, AMAP102 blocks the protein TNF-alpha, but in contrast AMAP102 can be administered orally. It also has an effect on other substances in the inflammation process, such as IL-6 cytokines.In preclinical studies AMAP102 has been documented for rheumatoid arthritis, though it is also expected to be effective against other inflammatory diseases. AnaMar Medical intends to license AMAP102 for use against a broad spectrum of such diseases, offering future partners the opportunity to develop the compound for arthritis, asthma, Crohn's disease and ulcerative colitis, Alzheimer's disease, atherosclerosis, cancer, multiple sclerosis (MS), etc.

For further information, please contact:
Owe Gårlin, President, phone +46 31 732 4142, e-mail: owe.garlin@anamar.com

 

About AnaMar Medical AB
AnaMar Medical is a biomedical company specializing in degenerative joint diseases. It was founded in 1998 to commercialize a unique technology and knowledge platform built up at the University of Lund. The largest owners are Koncentra Holding and LinkMed.

About rheumatoid arthritis
Rheumatoid arthritis is an inflammatory disease affecting approximately 1 percent of the population of the Western World. The disease, which affects patients of all ages, is characterized by inflammation of multiple joints, usually resulting in severe discomfort for the patient.