Biosergen secures fully covered SEK 39.9M rights issue for antifungal pipeline
What's the deal? BiosergenDealroom has a profile for this one. Try Dealroom →, a Swedish biotech developing antifungal treatments, has completed a fully covered rights issue of 79.84 million shares at SEK 0.5 each, raising SEK 39,920,000 (about $4.1 million).
The capital will fund clinical development of BSG005, its lead drug candidate for life-threatening fungal infections in immunocompromised patients.
Why now? BSG005 is in Phase I trials and has shown a favourable safety profile in early studies. The fresh capital pushes Biosergen towards potential market entry between 2026 and 2027.
The company last raised SEK 42.2 million in October 2022 to advance the same study.
What could go wrong? Phase I is early, and many drug candidates fail before reaching the market. Biosergen also depends on its development partner, India's Alkem LaboratoriesDealroom has a profile for this one. Try Dealroom →, to move the programme forward.
The signal: As an early-stage biotech, Biosergen is leaning on incremental rights issues — this SEK 39.9 million raise follows SEK 42.2 million secured in October 2022 — to bridge the long, capital-intensive path of antifungal drug development. With BSG005, a variant of nystatin engineered for improved properties, the company is betting that orphan drug designation and a serious unmet need can offset the inherent risks of staying in Phase I more than three years on.
Read more: AInvest
Image credit: theglobalpanorama
