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InDex Gets Cash Boost For Phase III Ulcerative Colitis Drug

Swedish Firm's Cobitolimod Could Be A Blockbuster

 
• By Kevin Grogan

The Stockholm-based company is in a position to start the Phase III program for its ulcerative colitis candidate after raising over $64m in a rights issue.

Swedish flags
Index flying the flag for Swedish biotechs • Source: Archive

It has been a long road but Sweden's InDex Pharmaceuticals Holding AB is moving its investigational ulcerative colitis drug cobitolimod into Phase III armed with a sizeable cash pot following a successful financing.

The Stockholm-based group has signed off a rights issue that has raised SEK533m ($64.2m) consisting of around 444 million new...

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