IRELAND - Fountain Healthcare leads $70m Amarin financing

Other investors include Abingworth, Sofinnova Ventures, Longitude Capital, Great Point Partners, Tavistock Life Sciences Company, RA Capital, APG Asset Management and Orbimed Advisors.

The round consists of $66.4m in cash proceeds and $3.6m from the conversion of convertible bridge notes. In exchange for the $66.4m, Amarin will issue 66.4 million American Depository Shares (ADS) with a purchase price of $1.00 and a warrant to purchase 0.50 of an ADS. The warrants will have a five year term.

In consideration for the $3.6m of bridge notes, the company will issue 4 million ADS, with a purchase price of $0.90 and a warrant to purchase 0.50 of an ADS. Dublin-based Amarin is a clinical stage biopharmaceutical company with a focus on cardovascular disease. The company's lead product is AMR101, a prescription grade Omega-3 product for the treatment of hypertriglyceridemia and mixed dyslipidemia.

Amarin also has a number of non-core programmes for partnering in the area of central nervous system disorders, including Huntington's disease, myasthenia gravis and Parkinson's disease.

The new funding will be used to advance the company's two phase 3 clinical trials with AMR101.

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• Early-stage
• UK / Ireland