Initiator Pharma A/S, a biotech company that is developing a novel treatment of erectile dysfunction, today announced that they have received an extension of the option agreement for the IP2018 drug candidate from Saniona until 31 March 2020 and furthermore opt to pay back the 5 MSEK bridge loan obtained earlier this year.
The extension of the option agreement, reduced development cost for the filing the IP2018 clinical trial application and the recent award of an Innobooster grant from Innovation Fund Denmark for the clinical development of IPED2015 provides Initiator Pharma with sufficient liquidity to repay the 5 MSEK bridge loan thereby saving the costs of the interests.
`We are making steady progress with the IP2018 drug candidate, however the final clinical trial design to be included in clinical trial application shall be based application based on the learnings from the IPED2015 trial and allow us to obtain approval from the regulatory authorities to start the Phase 2a clinical proof-of-Concept study in 2020.'says CEO, Claus Elsborg Olesen.
For additional information about Initiator Pharma, please contact:
Claus Elsborg Olesen, CEO
Telephone: +45 6126 0035 E-mail: [email protected]
This information is the information that Initiator Pharma is required to disclose under the EU Market Abuse Regulation. The information was provided under the above contact person's auspices, for publication on 18 October 2019.
About Initiator Pharma
Initiator Pharma is a Biotech company established in Aarhus, Denmark. Its main asset IPED2015 represents a novel treatment paradigm for the treatment of Erectile Dysfunction (ED) and will improve the quality of life for the growing number for patients (and their partners) that do not respond or cannot be treated with the current marketed medication.
About Erectile dysfunction
Erectile dysfunction is sexual dysfunction characterized by the inability to develop or maintain an erection of the penis during sexual activity. ED affects more than 150 million men worldwide and that number is expected to increase to more than 320 million by 2025, fueled by aging demographics and increasing prevalence of life style diseases such as diabetes. ED patients have decreased quality of life due to various psychosocial factors such as low self-esteem, depression, sadness, anger, frustration, anxiety, and relationship problems (1,2, 3).
1. Shabsigh R, et al. (1998) Increased incidence of depressive symptoms in men with erectile dysfunction. Urology52(5):848-852.
2. Mccabe MP, Althof SE (2014) A systematic review of the psychosocial outcomes associated with erectile dysfunction: Does the impact of erectile dysfunction extend beyond a man's inability to have sex? J Sex Med11(2):347-363.
3. Nguyen HMT, Gabrielson AT, Hellstrom WJG (2017) Erectile Dysfunction in Young Men-A Review of the Prevalence and Risk Factors. Sex Med Rev5(4):508-520.