Norgine provides over $8 million to Azanta to fund clinical development pipeline

Norgine Ventures, the business entity of privately-owned European pharma company Norgine, has provided financing of up to 7 million euros ($8.8 million) to Danish specialty pharma company Azanta Danmark in an investment to help it fund its late-stage clinical development pipeline and grow commercial sales.

Azanta specializes in marketing and distributing biopharma products in the treatment of orphan oncology and women’s health indications, as well as addiction medicine. It is currently commercializing a portfolio of a dozen specialty pharmaceuticals, and is developing its pipeline of proprietary products.

It has been focused in recent years on the development and commercialization of Nimoral, its proprietary formulation of nimorazole, as an adjuvant treatment in the radiotherapy of head and neck cancer. Azanta began a Phase III trial in the first half of 2014.