Karo Bio fully funded for Phase III of lipid-lowering eprotirome
This article was originally published in Scrip
Karo Bio of Sweden is to raise SEK325 million (£30 million) in a rights issue to fund a Phase III programme for its lead candidate, the lipid-lowering product eprotirome. Karo Bio decided earlier this year following dialogue with the US FDA and potential partners that the development of eprotirome in a broad indication,polygenic dyslipidaemia, would necessitate "a disproportionate investment", said Karo Bio's president and CEO Fredrik Lindgren. It was then decided to develop eprotirome in a niche indication that could be developed at "reasonable investment levels".