Flarin Holdings completes first round of fundraising for new drug
Flarin Holdings Limited has completed its first round of fund-raising by IW Capital. Flarin Holdings was recently demerged from Infirst Healthcare Limited in order to provide greater focus on the rapid commercialisation of Flarin.
Flarin is a unique and patent protected lipid formulated ibuprofen which at a dose of 1200 mg/day has shown to be as effective as 2400mg/day of standard liquid ibuprofen capsules in patients with acute joint pain. Flarin’s unique lipid formulation also helps to shield the stomach from damage.
“The very positive response we have had from presenting Flarin to new investors has given us great confidence in taking Flarin to the next stage of its commercial development,” says Andrew Macmillen, Managing Director. “These new funds give Flarin greater ability to increase investment in marketing in the UK as well as building a network of distributors and licensing partners in other countries.”
Luke Davis, IW Capital chief executive, says: "We are hugely excited to be involved with this innovative pharmaceutical product at an early stage in its commercial development. It is also key to be able to work with such an experienced management team in the pharmaceutical and healthcare arena.
“Our research shows that around 20% of private investors are looking to invest within Pharma and Biotech while half of this group is put off by Big Pharma. With this in mind we were not surprised that the initial investment target for Flarin was over-subscribed by IW capital’s network of net-worth individuals and independent financial advisors.
“There is a fantastic exit opportunity here with the product already fully developed and on sale in UK pharmacies, meaning there is already an established sales infrastructure in place."