Swedish drug developer InDex Pharmaceuticals seals €15m VC investment


Swedish drug developer InDex Pharmaceuticals has closed a €15m new rights issue led by industry-focused venture capital firm NeoMed Management.

Current shareholders, including VC firms SEB Venture Capital and Industrifonden, participated with 75 per cent of the invested capital.

In conjunction with the investment, Dr Erik Amble, managing partner and founder of NeoMed, has been appointed as a new member of the company’s board of directors.

Amble said, “InDex Pharmaceuticals’ Kappaproct is a late-stage product candidate that meets a significant unmet medical need of this seriously ill patient group. The InDex team is impressively well qualified, and we look forward to working with them to build significant value for both patients and investors.”

Founded in 1997, NeoMed has established five healthcare-focused funds to date.

Copyright © 2014 AltAssets