Vicore Pharma: Interim Report April-June 2023
Stockholm, August 24, 2023 – Vicore Pharma Holding AB (STO: VICO) (“Vicore”), unlocking the potential of a new class of drugs – angiotensin II type 2 receptor agonists (ATRAGs), publishes the interim report for the second quarter 2023.
Important events during the second quarter
- In May, Vicore reported new interim 36-week data from the phase 2a trial (AIR) in idiopathic pulmonary fibrosis (IPF) demonstrating sustained disease stabilization and increase in lung function in IPF patients.
- In May, Vicore announced the first patient dosed with C21 in an exploratory trial of endothelial dysfunction using EndoPAT®
- In May, Vicore strengthened the Board of Directors with the election of Dr. Elisabeth Björk and Dr. Michael Buschle.
- In May and June, Vicore announced patent protection for enteric coated formulations of C21 in the US and EU.
- In June, Vicore carried out share issuances of in total 29,875,000 shares at a subscription price of SEK 16.75 per share, raising SEK 500 million (USD 46 million) before transaction costs. Pro forma financial position, including net proceeds from the share issuances, as of June 30, 2023, amounts to approximately SEK 586 million (USD 54 million).
Important events after the period
- In July, Vicore announced that Ahmed Mousa has been appointed as the new CEO starting in September.
- In July, Vicore established a wholly-owned US subsidiary, Vicore Pharma US Inc.
- In August, Vicore announced the results of the exploratory trial using EndoPAT®, as a tool to assess the effect of C21 on endothelial function. Results were inconclusive due to high intra-individual variability.
