7. January 2026

Fossar Advisor to EpiEndo in an EUR 9 million CB issue

EpiEndo Pharmaceuticals has completed the issuance of convertible bonds in the amount of EUR 9 million, equivalent to approximately ISK 1.3 billion. The issuance is structured such that EUR 5 million represents new capital, while EUR 4 million is an extension of existing convertible bonds that were issued two years ago. Participants in the offering include both private investors as well as institutional investors Birta Pension Fund, the Pension Fund for State Employees, and the Vestmannaeyjar Pension Fund.

The financing enables EpiEndo, a pharmaceutical company in the clinical development phase, to further develop its lead compound glasmacinal, which is the first drug in a new class of anti-inflammatory medications. Glasmacinal shows strong promise as a treatment for chronic respiratory diseases such as chronic obstructive pulmonary disease (COPD), which is the third leading cause of death worldwide.

The company plans to continue the development of glasmacinal and is in discussions with major international institutional investors and pharmaceutical companies regarding the financing of a large Phase 2b clinical trial. Before Phase 2b can commence, important work must be completed in the areas of chemistry, manufacturing, and quality control (CMC), and part of the bond issuance will be used to fund this preparatory work.

The structuring and placement of the issuance were handled by the corporate finance advisory team of Fossar Investment Bank.