AOP Health supports Shield Therapeutics plc's strong growth path in the USA
The company grants Shield Therapeutics plc a new convertible loan in the amount of US $10 million
Vienna, December 14, 2022, After many years as a shareholder of Shield Therapeutics plc, AOP Health has become the company's principal equity investor.
Through a commercial partnership with the global healthcare company Viatris Inc, a convertible loan from AOP Health, and the recently completed equity raise, Shield Therapeutics plc has raised a total of $33 million, which will be used to expand its commercial effectiveness including a significant expansion of field, digital and direct to consumer marketing. This will enable a significant further increase of sales of Accrufer® in the US. AOP Health has participated in the capital raise at its current ownership percentage.
Andreas Steiner, Group Chief Executive Officer of AOP Health International Management AG: "AOP Health accompanies and supports Shield Therapeutics as we believe in the potential of its lead product, Accrufer® (USA) or Feraccru® (Europe), a non-salt-based oral therapy for iron deficiency in adults. We are therefore supporting the company's next important step, the expansion in the U.S. market."
Together with Viatris and enabled by AOP Health’s capital and equity boost, Shield Therapeutics expects to significantly increase sales in the U.S. market.
"In line with our mission to improve the quality of life of patients, we would like to use this investment to provide better access to therapy for those affected in the U.S."
Learn more here about Shield Therapeutics plc
About AOP Health
The AOP Health Group incorporates several companies including AOP Orphan Pharmaceuticals GmbH with its seat in Vienna, Austria (“AOP Health”). The AOP Health Group is the European pioneer for integrated therapies for rare diseases and in critical care. Over the past 25 years, the Group has become an established provider of integrated therapy solutions operating from its headquarters in Vienna, its subsidiaries and representative offices throughout Europe and the Middle East, as well as through partners worldwide. This development has been made possible by a continually high level of investment in research and development on the one hand and a highly consistent and pragmatic orientation towards the needs of all its stakeholders on the other – especially the patients and their families as well as the doctors and healthcare professionals treating them. Find out more at aop-health.com.
Nina Roth, MAS
Head of Corporate Communications