EpiEndo announced securing a €2.7 million convertible loan agreement from the European Innovation Council Fund.
EpiEndo Pharmaceuticals, a Reykjavik, Iceland-based pharmaceutical company developing a proprietary portfolio of compounds for the treatment of inflammatory disorders, announced that it secured a convertible note of €2.7 million ($3.3M).
The money was raised from the European Union via its European Innovation Council Fund.
EpiEndo Pharmaceuticals, founded in 2014 and led by CEO Fredrik Lehmann, is focused on novel solutions for chronic airway diseases as is developing a proprietary portfolio of compounds with epithelial barrier enhancing properties. The company is currently working on a new candidate drug, EP395, designed as a treatment for chronic obstructive pulmonary disease (COPD). The drug is expected to be ready for a market launch in 2029.
EpiEndo previously raised €4.5 million in grants and equity money in 2019.