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Astion Pharma Strengthens Capital Base by DKK 37.1 Million


3/8/2007 11:47:16 AM

COPENHAGEN, Denmark, March 8 /PRNewswire/ -- Astion Pharma A/S raised DKK 37.1 million of new capital and is strengthening its development activities in the field of Dermatology. The capital was provided by the existing shareholders.

Astion Pharma, is focusing on developing pharmaceuticals for the treatment of severe skin diseases. The Company currently has three development projects in Phase II clinical studies for the treatment of hand dermatitis, seborrheic dermatitis and cutaneous lupus erythematosus in addition to a broad portfolio of product candidates and research programs in earlier phases.

Astion has achieved significant and favorable results in several of the Company's development projects. The capital increase will primarily be used to fund the clinical projects and two late-stage preclinical development candidates.

"Our shareholders' support of our strategy strengthens us in our projection that we will start up Phase III clinical studies within 12 to 18 months," said Henrik Moltke, CFO.

Astion Pharma A/S develops pharmaceutical products for the treatment of skin diseases. It is estimated that one person in four worldwide will suffer from a skin disease sometime in life, causing a deterioration of their quality of life. It is the Company's goal to become a leading player in the treatment of skin diseases for which there is currently a major need for new and better therapies. Astion Pharma has a strong platform of proprietary technologies for the development of new and innovative products. The Company pursues development activities through a strong international network of scientific partners and leading contract research organisations. The Company currently has three development projects in Phase II clinical studies in hand dermatitis, seborrheic dermatitis and cutaneous lupus in addition to a large portfolio of product candidates and research programmes in earlier phases. For additional information please visit our web site: www.astion.com.

Astion Pharma A/S

CONTACT: Contact person: Henrik Moltke, CFO, Tel: +45-2244-5404, E-mail:hkm@astion.com



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