S Bio will utilize the proceeds to primarily fund the development efforts of its two lead compounds, SB939, a HDAC inhibitor, and SB1518, a JAK 2 inhibitor, both in Phase I clinical trials.
Jan-Anders Karlsson, CEO of S Bio, said: “As part of the financing, we would like to welcome Jean-Philippe Tripet, managing partner of Aravis to our board of directors. Mr Tripet, with his extensive knowledge and experience in the life sciences arena, is a valuable addition to the board.
“This financing round is recognition of the progress we have made in rapidly and effectively developing our compounds. We look forward to having our lead compounds tested in Singapore, US and other international trial sites and advancing them further into Phase II development.”