Empros Secures 80 MSEK Funding To Support Development Of Obesity Treatment Candidate – EMP16
Empros Pharma AB has secured 80.000.000 SEK through private investments. The investment was led by Flerie Invest and will be used to accelerate the development of the obesity drug product EMP16, as well as strengthening the team.
Arvid Söderhäll, CEO of Empros commented: “The obesity market is one of the most attractive and immature life science markets. All the media buzz surrounding weight loss medications is focused on GLP-1 drugs but it is our belief that they are not a silver bullet and other treatments will be required. As in any other large indication, a variety of targets and Modes of Action are needed. EMP16 is by far the most mature project in its segment and this makes it a unique asset, particularly as it is an oral product with a robust safety profile. If all goes to plan, we will launch EMP16 in the US during 2027 and this will make it the next obesity drug out of the blocks after Mounjaro”.
On February 7th, Empros announced the first tranche investment of 40 msek, and with this second tranche the entire financing amounting to 80 msek is secured. The second trance payment follows after the initiation of the SESAM trial as announced on April 24th. Empros is now fully financed to reach the next value inflection point expected in Q1 2024. The topline data from the SESAM trial and data from a pharmacodynamic/pharmacokinetic trial will be announced simultaneously.
EMP16 follows the FDA 505(b)2 regulation and therefore the phase 3 trials will be very lean and cost effective. It also means that the safety risk in the remaining clinical program is also low. It only remains to demonstrate efficacy as the safety of active pharmaceutical ingredients has already been characterised after decades of use by millions of patients.
Canaccord Genuity is acting as exclusive business development advisor for EMP16 and organizations with an interest to commercialize EMP16 are encouraged to contact Issac Jacob at Canaccord.
ABOUT EMPROS
Empros founded in late 2013 and have since then developed EMP16, an oral, fixed-combination, modified release formulation of orlistat and acarbose for the treatment of obesity. EMP16 product has demonstrated its safety, tolerability and efficacy in several trials, most recently a proof-of-concept clinical trial, published in Obesity: Effects of a novel weight‐loss combination product containing orlistat and acarbose on obesity: A randomized, placebo‐controlled trial. (Holmbäck et al. 2022, Obesity) . The Empros team shares the same long term goal as it’s prime investor Flerie; to bring EMP16 to the market.
ABOUT FLERIE AB
Flerie is an active long-term global biotech and pharma investor based in Stockholm and London managing a portfolio of over 30 companies in Europe, Israel and the US. The focus is on enabling pioneering organisations operating in the drug development and services space to succeed by providing them with resources and expertise. Flerie was founded in 2010 by Thomas Eldered, who also co-founded and built Recipharm to be one of the world’s top five pharmaceutical contract manufacturers. For more information, please visit www.flerie.com