EsoCap AG announced that a capital increase has been authorized by the Extraordinary General Assembly, held on April 11, 2019, followed by successful completion of a private placement financing. The proceeds of the private placement will be used to complete a clinical proof-of-concept trial in eosinophilic esophagitis (EoE).
“We are delighted to have secured the financial resources to advance EsoCap’s innovative technology rapidly toward the clinic,” said Isabelle Racamier, EsoCap AG CEO. “This financing allows EsoCap AG to run the planned clinical trial in EoE and to conduct feasibility studies in other esophageal diseases.”
The private financing round includes investments from existing, as well as new, investors with a strong entrepreneurial and life sciences background. This funding is instrumental, as it gives a solid financial position while moving into the clinical development phase.