Camurus, a pharmaceutical company specialising in developing innovative specialty medicines based in Lund, receives half a billion SEK (54 million EUR) investment from various investors, writes 8till5.
The company recently announced a rights issue on Stockholm stock exchange, Nasdaq. Among the investors are Martin Gren, founder of Axis, and Erik Paulsson, founder of Peabs. With the newly invested capital, Camurus is valued at 2 billion SEK (215 million EUR).
The Skane-based company has made two other agreements in recent years that could bring in even more capital to fund upcoming research projects. In 2013, Camurus signed an agreement with Novartis, the largest healthcare company to develop a drug for the treatment of neuroendocrine tumors and abnormal physical growth. In 2014, Camurus signed a partnership with Braeburn Pharmaceuticals to develop a drug against opioid dependence. If the candidate products turn out to be working, Camurus is estimated to gain more than 7 billion SEK (750 million EUR) in payments from these collaborations.
Our dedicated research and development efforts along with new discoveries have resulted in the innovative product candidates in our pipeline. Products that are now advancing towards the market that may fundamentally change and improve treatments for millions of patients worldwide suffering from severe and chronic disease such as opioid dependence, pain, cancer, acromegaly, and neuroendocrine tumours. – says Fredrik Tiberg, CEO of Camurus.