BRIEF—Gesynta Pharma raises 6 million euros

Sweden’s Gesynta Pharma has raised 6 million euros ($6.7 million) to help develop its lead candidate GS-248. The firm is aiming to take the therapy into Phase II trials in 2020.

The candidate is a selective mPGES-1 inhibitor under development for the treatment of microvascular diseases in chronic inflammatory conditions.

As well as helping complete Phase I testing, the funds will enable the firm to conduct studies to detect a further candidate from a recently-acquired late-stage discovery portfolio.