Clinuvel Pharmaceuticals Ltd has raised Euros 15.8 million in a private placement of shares with Australian and European institutions.
The Melbourne-based company will use the money to fund European clinical trials of CUV1647 in treating skin disorders caused by sensitivity to ultra violet light. It has recently received approval for a pan-European Phase III trial of CUV1647 in Polymorphic Light Eruption and approval from the Swiss Regulatory Agency, Swissmedic, to begin a Phase III trial of CUV1647 in Erythropoietic Protoporphyria.
Clinuvel’s Executive Chairman, Dr Roger Aston said, “Our cash reserves now total AUD $63.5 million and place Clinuvel in a favourable position to advance its plans to commercialise CUV1647 across five indications.”
The Melbourne-based company will use the money to fund European clinical trials of CUV1647 in treating skin disorders caused by sensitivity to ultra violet light. It has recently received approval for a pan-European Phase III trial of CUV1647 in Polymorphic Light Eruption and approval from the Swiss Regulatory Agency, Swissmedic, to begin a Phase III trial of CUV1647 in Erythropoietic Protoporphyria.
Clinuvel’s Executive Chairman, Dr Roger Aston said, “Our cash reserves now total AUD $63.5 million and place Clinuvel in a favourable position to advance its plans to commercialise CUV1647 across five indications.”
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