Asarina Pharma obtains convertible loan for continued research on neurological conditions including Obsessive Compulsive Disorder

(Stockholm, 31 May 2021) Asarina Pharma AB (publ) has obtained a convertible loan of 5.3 MSEK from Östersjöstiftelsen (ÖSS), one of its key shareholders, for ongoing and upcoming R&D into neurological disorders including OCD (Obsessive Compulsive Disorder).

The convertible loan supplements Asarina Pharma’s current financial resources and will be spent on further exploration of the potential of Sepranolone within neurological diseases. The loan carries an interest rate of 10% p.a. and the maturity date is 30 June 2023. ÖSS has the right at any time before maturity to convert the loan to shares in Asarina Pharma at the volume weighted average share price during the 10 trading days prior to the conversion date.

Peter Nordkild, CEO: “We appreciate the continued support from Österjöstiftelsen, a much-valued, long-time supporter and investor in Asarina Pharma. The additional funding will allow us to further explore the potential of Sepranolone within neurological diseases, including OCD. The WHO lists anxiety disorders, including OCD, as the sixth largest contributor to non-fatal health loss globally.”