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DermaGen AB Receives Over 1 Million Euros From a New Share Issue
Date:4/2/2008

LUND, Sweden, April 2 /PRNewswire/ -- DermaGen AB today announced a cash injection from Midroc New Technology AB who now joins existing owners, Karolinska Development and Ostersjostiftelsen. The capital will be used for the further development of DermaGen's first candidate drug. The majority will be used to initiate a clinical phase 2a study in patients with Atopic Dermatitis (AD), for which the company has already received approval, and to further develop the company's R & D pipeline.

"We are pleased that the company has attracted a new investor. Both Karolinska Development and Ostersjostiftelsen continue to invest, reinforcing the financial strength of the company and enabling us to carry out a clinical trial with DPK-060. This is a novel antimicrobial treatment for AD, and our lead antimicrobial candidate for topical use, it will be tested in a phase 2a study in patients during 2008," says Jan Alenfall, CEO of DermaGen.

The move towards clinical activities marks a new phase for DermaGen and new members of the board of directors have been appointed to support this.

Jonas Frick, CEO Resistentia AB, was elected as Chairman of the Board of Directors at the annual meeting on the 31st of March. "DermaGen is a very exciting company and I am looking forward to contributing to the successful development of DermaGen's novel treatment options," says Jonas Frick.

Goran Linder, CEO of Midroc New Technology will also become member of DermaGen's Board of Directors. "As a pharmaceutical research company, DermaGen represents a new type of investment focus for Midroc New Technology, we see this as an extremely exciting new opportunity," says Goran Linder, CEO of Midroc New Technology.

Global sales of anti-infective drugs reached $44.5 billion in 2005 and will likely double over the next 5 years. Worldwide sales of products used in AD therapy are growing rapidly due to the increasing prevalence of the disease and are expected to reach $2 bi
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SOURCE DermaGen AB
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