Diurnal Group (DNL): Capital increase to support commercial plans
Diurnal (DNL) is a commercial-stage specialty pharmaceutical company focused on diseases of the endocrine system. Its two lead products target rare conditions where medical needs are currently unmet, with the aim of building a long-term ‘Adrenal Franchise’. Following regulatory approval, DNL will launch Alkindi in key European markets in 2018 through its own commercial infrastructure. Meanwhile, the company is pushing forward with Alkindi and Chronocort clinical trials in the US. To maintain this positive momentum, DNL has announced a Placing to raise gross new capital of up to £11m and, concomitantly, converting its debt into equity.Diurnal Group is a pharma company developing products for the life-long treatment of chronic endocrine conditions. Co. is focused on addressing clinical and patient needs in hormone replacement, initially by developing and marketing products for the rare orphan diseases congenital adrenal hyperplasia and adrenal insufficiency. Co.'s products include Infacort®, an immediate-release hydrocortisone preparation targeting Adrenal Insufficiency (including Congenital Adrenal Hyperplasia) in children under six years of age in Europe and 16 years of age in the U.S.; and Chronocort®, a modified-release hydrocortisone preparation, initially targeting Congenital Adrenal Hyperplasia in adult patients.
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