InDex Closes Financing Round
Stockholm - The Swedestart Life Science KB fund, managed by CapMan, invested Euro3.9 million in InDex Pharmaceuticals AB, with an option to invest another Euro1.6 million. With this investment the Swedestart fund becomes one of the major shareholders in the Stockholm-based company, together with Life Equity Sweden and SEB Företagsinvest. The funds invested will be used to finance InDex' current research projects including Kappaproct® for the treatment of the inflammatory bowel disease, which is currently in phase II clinical trials in five European countries.
“We are very enthusiastic about reaching this agreement with CapMan. Our collaboration with Serono concerning Kappa-proct runs according to plan and we can now put more resources behind many of our research and product development activities in the company,” said Svante Rasmuson, CEO of InDex.
“InDex has an interesting pipeline of products under development, including Kappaproct and a new test for diagnosing IBD subtypes,” commented Björn Nor-denvall, investment director at CapMan. InDex develops RNA blocking drugs as well as diagnostic/prognostic tools inflammation and cancer.