Asarina Pharma, the Sweden-based developer of a treatment for premenstrual dysphoric disorder, has raised €7m ($7.7m) in a funding round backed by clinical trial and drug development services provider Ergomed.
The round also featured private equity firm Idinvest Partners. Ergomed will provide the funding as part of a co-development agreement that will involve it helping Asarina with the phase 2b clinical development of its Sepranolone treatment.
Miroslav Reljanovic, Ergomed’s CEO, said: “We are delighted to be the co-development partner for Asarina as it embarks upon its phase 2b clinical trial program for Sepranolone which has the potential to be a first-in-class therapy for this serious disease.
“This further expands the number of pipeline opportunities where we share in the potential upside as a drug is successfully developed through leveraging our expertise and experience in providing clinical trial services to support such development.”