Berlin, (18/05/2021) – MerLion Pharmaceuticals GmbH (MerLion), a biopharmaceutical company focused on research and development of novel antibiotics for the treatment of serious bacterial infections, today announced the successful completion of a growth financing round raised via a private placement to European strategic investors.
The funds raised will primarily be used to finance the production and market launch of MerLion’s US FDA and Health Canada approved drug XtoroTM, an otic suspension containing finafloxacin for treatment of ear infections.
In addition to existing investors such as HeidelbergCapital and Vl Partners, new strategic investors such as Denk Pharma GmbH & Co. KG have taken part in the round. Further details were not disclosed.
“This is a significant milestone in our mission to successfully launch Xtoro, an otic formulation of our antibiotic finafloxacin, in the US and Canada,” said Dr. Andreas Vente, Managing Director of MerLion. “This financing is proof of the high potential of our lead drug and the confidence of our investors in our strategy.”
“We invest in projects and technologies that contribute significantly to patients’ healing,” said Stephan Huber, Managing Director at Denk Pharma. “Xtoro is an FDA-approved product for the treatment of Acute Otitis Externa in children and adults. Its superior, fast acting properties will aid patients considerably in their recovery.”