| Swedish neuroscience
company raises 12 €million |
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| Stockholm,
September 10 2003. - NeuroNova
has completed a new round of financing for 109,5 MSEK (MEuro 12, MUSD 13).
The investors include HealthCap, Investor Growth Capital, a wholly owned
subsidiary of Investor AB, and Scandinavian Life Science Venture. |
| |
| NeuroNova
is a Swedish company founded in 1998. The company has 20 employees and is
based in Stockholm. NeuroNova develops novel treatments for disorders of
the brain and nervous system and has developed a strong patent portfolio
around the company's main research area, the formation of new neurons in
the adult brain. |
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| "We
have been very successful in converting our discoveries on the
regenerative capacity of the brain into potential products. The new
financing allows us to accelerate our most advanced projects towards
clinical trial phase and to strengthen our neurogenesis technology
platform. We are now better placed to commercialise our technology and
establish collaborations with larger biotechnology and pharmaceutical
companies", says NeuroNova's CEO, Anders Haegerstrand. |
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| Björn
Odlander has been elected Chairman of the board and Carl Gustaf Johansson
new board member. Chairman Lennart Philipson is retiring from the board. |
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| Björn
Odlander is a founding partner of the Odlander Fredrikson Group, which
manages the HealthCap Funds. Carl Gustaf Johansson was previously vice
President at Astra AB and AstraZeneca PLC, where he was responsible for
the North American operations. |
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| "We
are extremely pleased with the additions of Dr Björn Odlander and CG
Johansson to our board. Dr Odlander has extensive experience in building
financially strong companies and bringing them through successful IPOs. CG
Johansson has a unique network and vast experience from the pharmaceutical
industry from his outstanding career at Astra AB and AstraZeneca PLC.
Outgoing Chairman Lennart Philipson is retiring from the board and we are
very grateful for his contribution during the build-up phase of NeuroNova",
concludes NeuroNova's CEO, Anders Haegerstrand. |
About NeuroNova
The company was founded in 1998 by Dr Jonas Frisén and Dr Ann Marie
Janson, Karolinska institute in Stockholm. NeuroNova is discovering and
developing novel treatments for disorders of the brain and nervous system,
such as Parkinson's disease, Alzheimer's disease, spinal cord injury and
stroke. Technologies being developed by NeuroNova include protein and
small molecule drugs that stimulate endogenous precursor cells (stem or
progenitor cells) to become neurons in the adult brain. Other technologies
also include methods for culturing and transplanting immature neurons in
the adult brain. Find out more about NeuroNova at: www.neuronova.com |
For more information, please contact:
Anders Haegerstrand, NeuroNova AB: +46-8-786 09 01; +46-70-575 50 37
Björn Odlander, HealthCap: +46-8-442 58 50
De Facto Communications plc
No.1 London Wall Buildings,
London Wall, London EC2M 5PG, UK
tel: +44 (0)20 7496 3300 fax: +44 (0)20 7496 3355
direct line: +44 (0)20 7496 3313
email: e.murray@defacto.com
web: http://www.defacto.com
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