Existing investor Bayern Kapital and participated in the round as did new investor Hanseatic Asset Management and vasopharm chairman Andrew Clark.
The company will use the funds for the preparation of a Phase III clinical study of its compound VAS203, an allosteric nitric oxide synthase inhibitor used for the treatment of traumatic brain injury.
VAS203 has met all clinical endpoints for safety and demonstrated strong evidence of clinical benefit in the Phase IIa European NOSTRA trial completed in 2012, said vasopharm.
Vasopharm CEO Christian Wandersee sadi, “VAS203 has demonstrated safety and tolerability in two clinical Phase I studies with single and repetitive dosing schedules.
“In the Phase IIa NOSTRA trial, we also observed a significant improvement in recovery of patients in the drug group.
“We will now take all the necessary steps to prepare for a Phase III trial that meets the expectations of patients, clinicians, the regulatory and reimbursement agencies, as well as potential pharma partners.”
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