Stockholm, 16 November 2023. Asarina Pharma AB (publ., “Asarina” or “the Company”) today provides an update on its partnering activities and financial status related to lead compound, Sepranolone in Tourette Syndrome.
In recent months, the Company and its financial advisor have reached out to a broad group of potential partners. As of the middle of November, the Company has a number of on-going dialogues with companies which have expressed interest in Sepranolone.
It is not clear when these dialogues will come to a conclusion and there is no certainty that a partnership can be established on satisfactory terms.
In parallel, the Company has implemented significant savings, primarily by reducing staff costs. Furthermore, the Company has obtained a convertible loan of SEK 1 million from its major shareholder. This means that Asarina has the necessary financial resources to conduct the current partnering activities.
Peter Nordkild, CEO: “We knew that finding a partner for Sepranolone would take time. We are hopeful that we will eventually find a partner who can contribute to bringing Sepranolone further on in its clinical development. In the meantime, we have taken measures to strengthen our financial capability.”