9 January 2012 - Avexxin AS, a Norway-based biopharmaceutical group developing therapies for inflammatory diseases, said on Monday that it had received the second tranche of a financing A round with existing shareholders.

The freshly raised funding will enable the company to advance the development of its lead compound against psoriasis, with a proof-of-concept trial expected to begin in late 2012.

Apart from psoriasis, the company is also involved in preclinical development trials of drug candidates for other chronic inflammatory conditions.