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news.Napo Pharmaceuticals has begun trading on the main market of the London Stock Exchange and raised GBP11.9 million in its independent purchase offering to help support its product pipeline.
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Napo Pharmaceuticals is focused on developing and commercializing proprietary pharmaceuticals, in collaboration with local partners, to address major global unmet medical needs in developed and developing countries.
The company is currently developing crofelemer for four distinct product indications including chronic diarrhea in people living with HIV/AIDS (for which indication crofelemer is in phase III development), diarrhea-predominant irritable bowel syndrome, pediatric diarrhea and acute infectious diarrhea.
Napo also has a medicinal product library of over 2,300 plants, which is the subject of preclinical discovery collaboration. The company’s partners include Trine Pharmaceuticals, Glenmark Pharmaceuticals, and AsiaPharm Group.
Napo said that the placing and subscription proceeds of GBP11.9 million pounds ($22 million) before expenses will be used to continue to progress its pipeline, including product registration and launches.