Nemysis Ltd Completes Second Round of Financing
Nemysis Limited, the Dublin-based pharmaceutical and healthcare Company focused on iron deficiency/anemia and gluten sensitivity has announced that it has completed a €2.65M capital raise.
DUBLIN, May 9, 2020 (Newswire.com) - Nemysis Limited, the Dublin-based pharmaceutical and healthcare Company focused on iron deficiency/anemia and gluten sensitivity, has announced that it has completed a €2.65M capital raise.
Currently a research-based Company, Nemysis has three high-potential products in its development pipeline, and it intends to use the net proceeds of the Placing to:
- Expand clinical development of IHAT, its novel nanoparticulate iron, and prepare for potential commercialization in Europe.
- To advance its other product pipeline and, in particular, the pre-industrialization process of E40, the Company's novel endopeptidase for the enzymatic management of gluten intolerance and sensitivity.
Marco Cartolari, Executive Director, said: "We are very pleased with the progress we have made in the past year, and this financing will allow us to build on the momentum from all the positive development achievements on our innovative iron particulate product. Today's oversubscribed private placement shows investors' trust in Nemysis' progress and potential."
While furthering its preparatory activities for the worldwide commercialization of IHAT, the Company will now be able to accelerate its development plan for its other pipeline products in the gluten sensitivity area.
Cartolari's remarks continued: "We appreciate the continued support of our existing shareholders and are glad to have added new investors. I'm delighted that such experienced, biotech and healthcare investors have decided to join our existing shareholders.
Nemysis Ltd, a healthcare and pharmaceutical company, is focussed on nutritional and pharmaceutical solutions that can protect against some of the negative consequences of nutrient deficiency, nutrient intolerances and sensitivities, paying particular attention to the need to safeguard the human microbiome.
· Nemysis's novel nanoparticulate iron is the first natural ferritin mimic, which can correct human iron deficiency and anemia, without negatively impacting the gut microbiome. Safety and efficacy have been demonstrated in controlled-repeat-dose clinical trials.
· Nemysis's novel E40 endopeptidase is gastric, trypsin and chymotrypsin resistant. It has been shown to destroy all the immuno-stimulatory epitopes of gluten, quenching the exacerbated inflammatory response of primed, gluten-sensitive and hyper-responsive human T cells. It is, therefore, suitable for the enzymatic management of gluten intolerance and sensitivity.
Nemysis, Food Supplements, Iron, Nano-Particulate Iron, Iron Deficiency/Anemia, IDA, Celiac Disease, CD, Non-Celiac Gluten Sensitivity, NCGS / NCWS, Pharmaceuticals, Biotech, IHAT, E40, Ireland Endopeptidase
Danilo Casadei Massari
Chairman of the Board
7 D'Olier Street
Source: Nemysis Ltd