Dilafor raises SEK 51 million to facilitate Phase IIb clinical study with tafoxiparin

STOCKHOLM, SWEDEN – September 27, 2016. Dilafor AB, a drug development company focusing on the development of tafoxiparin for obstetric indications, today announced it has successfully completed a financing round raising SEK 51 million (US$5.9 million) from new and existing investors. The new financing round was led by Lee's Healthcare Industry Fund and Rosetta Capital, and the syndicate included Östersjöstiftelsen, Praktikerinvest PE AB, Pila AB and Dilafor’s largest existing shareholder, KDev Investments, an investment fund jointly owned by Karolinska Development (Nasdaq Stockholm: KDEV) and Rosetta Capital. Dilafor’s lead candidate, tafoxiparin, a modified form of heparin, is in clinical development to decrease theincidence of protracted labor both after induction of labor and after spontaneous onset of labor. Protractedlabor (i.e labor that lasts more than 12 hours) is the main cause of emergency surgical deliveries, such ascaesarian section. The condition is often associated with complications for both mother and child.Tafoxiparin has shown in a Phase II clinical trial encouraging evidence that it can shorten labor time. The successful completion of the financing round enables Dilafor to facilitate a Phase IIb dose finding trial with tafoxiparin trial in Northern Europe, which is planned to start before the year end 2016. The study will include women with slow progress of labor after a spontaneous onset. Lena Degling Wikingsson, CEO of Dilafor, said: “This planned clinical study is an important event in the clinical development program for tafoxiparin. There is no available treatment today to help these women that have high risk of fetal and maternal complications as a consequence of slow progress and protracted labor. With support of long-term investors, Dilafor has now secured the financial resources needed to reach this next crucial milestone in the development of this promising candidate, and to identify a dose to takeforward into the final stages of clinical development.” Jason Chow, CFO of Lee’s Healthcare Industry Fund, said: “"We are delighted to strengthen our partnership with Dilafor by becoming a shareholder as well. Woman Health is one of our focused areas and we look forward to the advancement of Dilafor's lead program Tafoxiparin into the final stages of clinical development." Dr. Torsten Goesch, Director of Rosetta Capital, said: “ There is a strong medical need within the women health area targeted by Tafoxiparin and we are excited to support the company to reach this important milestone in the clinical development of the product”

The release as fetched from its publisher. dilafor.com ↗