Amarin secures $52.8m to promote cardiovascular drug

Irish pharmaceuticals group Amarin has secured $52.8 million in new capital through the placement of shares with new and existing investors.

The company intends to use the proceeds to support the commercialisation of its Vascepa drug, which is used to treat patients at risk from cardiovascular disease.

The purified Omega-3 fish oil drug is given to patients at risk from cardiovascular disease due to elevated blood fat levels.

Shares of Amarin jumped 48 per cent last month after it receiving a significant upgrade from a US brokerage and after it announced a licensing agreement for Vascepa in China.

The company’s shares had been under pressure after US regulators shut the door its plans to extend the market for its Vascepa in treating patients at risk from cardiovascular disease due to elevated blood fat levels.