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Asarina Pharma

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Asarina Pharma updates on partnering and financials

MAR

Stockholm, 16 November 2023. Asarina Pharma AB (publ., “Asarina” or “the Company”) today provides an update on its partnering activities and financial status related to lead compound, Sepranolone in Tourette Syndrome.

In recent months, the Company and its financial advisor have reached out to a broad group of potential partners. As of the middle of November, the Company has a number of on-going dialogues with companies which have expressed interest in Sepranolone.

It is not clear when these dialogues will come to a conclusion and there is no certainty that a partnership can be established on satisfactory terms.

In parallel, the Company has implemented significant savings, primarily by reducing staff costs. Furthermore, the Company has obtained a convertible loan of SEK 1 million from its major shareholder. This means that Asarina has the necessary financial resources to conduct the current partnering activities.

Peter Nordkild, CEO: “We knew that finding a partner for Sepranolone would take time. We are hopeful that we will eventually find a partner who can contribute to bringing Sepranolone further on in its clinical development. In the meantime, we have taken measures to strengthen our financial capability.”

For further information, please contact:
Peter Nordkild, CEO, Asarina Pharma AB
Phone: +45 25 47 16 46
E-mail: peter.nordkild@asarinapharma.com

Jakob Dynnes Hansen, CFO, Asarina Pharma AB
Tel: +45 5132 3698
E-mail: jakob.dynnes@asarinapharma.com

About Asarina Pharma
Asarina Pharma is a Swedish biotech company developing Sepranolone for allopregnanolone-induced stress- and compulsivity-driven disorders. Our product pipeline is built on over 40 years of research into allopregnanolone-related neurological disorders. With our new family of GAMSA compounds (GABA-A Modulating Steroid Antagonists) we aim to deliver a new generation of safe, efficacious drugs for neurological conditions from Tourette syndrome to Obsessive Compulsive Disorder that still lack safe, efficacious pharmaceutical treatments.

This information is information that Asarina Pharma is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-11-16 08:33 CET.

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Asarina Pharma updates on partnering and financials

Datum 2023-11-16, kl 08:33
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Asarina Pharma updates on partnering and financials
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