Munich, Germany – 07 January 2013. Priaxon, an emerging pharmaceutical company based in Germany, today announced a collaboration with GlaxoSmithKline (GSK) to research and develop small molecule modulators of protein-protein-interactions. Priaxon will provide its innovative and proprietary small molecule drug discovery expertise which is particularly suited to investigating the modulation of protein-protein interactions (PPIs). PPIs play an important role in many cell signaling pathways and cell-surface receptor-ligand interactions that become dysregulated in disease states. (more…)
Fortel Management and Inveni Capital have invested nearly 1 million euro in BioSilta and EnBase technology. Fortel Management Oy administers the investment fund ”Oulun Seudun Hyvinvointirahasto Ky”, which invests on growth companies in areas of Oulu and Kainuu (www.fortelman.fi).
Tuesday, 04 September 2012 18:52
Laurantis Pharma Completes Funding Round for Research Program
(Boston, Mass., Turku, Finland / 4 September 2012) Laurantis Pharma today announced successful completion of a funding round, which raised € 5.64 million (US$7.02 million). A significant amount of the financing was secured from Broadview Ventures, Inc., which served as a catalyst for raising funds from Inveni Capital, Aloitusrahasto Vera, Helsinki University Funds, and Veritas.
The Broadview funding will support the first human trial for Lymfactin, which has potential to become the first treatment for breast cancer-associated lymphedema. Lymfactin uses an adenoviral vector to deliver vascular endothelial growth factor (VEGF-C) during transplantation of lymph nodes in order to avoid lymphedema. (more…)
Onbone’s wood composite material, manufactured from wood chips and biodegradable plastic, has been selected as the winner of the business category of the Productive Idea competition in the Varsinais-Suomi and Uusimaa regions. The next step for the regional winners will be the judging by the national jury. (more…)
Laurantis Pharma today announced that it has completed a phase 1 clinical study with its Cis-urocanic acid eye drops. The objective of the study was to investigate the tolerability and safety of the ophthalmic product as well as pharmacokinetics after single and repeated dosing. In total, 37 healthy adult volunteers were recruited in the study. (more…)
On Lymphedema Awareness Day, Researchers Present Pre-Clinical Data Offering Cautious Hope for Breast Cancer Patients Suffering From Secondary Lymphedema
Lymphedema Awareness Day was established to support the needs of patients with lymphedema and to raise awareness for the need to develop new treatment options. Today, researchers have presented investigational pre-clinical data on the first potential pharmacologic agent used in combination with surgery for the treatment of breast cancer associated lymphedema at the Gordon Research Conference for Molecular Mechanisms in Lymphatic Function & Disease. (more…)
New specialty pharmaceutical company will target inflammatory diseases and cancers
BioCis Pharma Oy and Oy Lx Therapies Ltd. announced today that the companies have combined to create Laurantis Pharma Oy (“Laurantis Pharma”), a clinical-stage specialty pharmaceutical development company. The new entity has a broad portfolio of first-in-class products based on two proprietary technologies. The Company’s lead products target the treatment of a variety of inflammatory diseases and conditions including atopic dermatitis, dry eye syndrome, interstitial cystitis, and lymphatic disorders, as well as the treatment of bladder cancer. In connection with the creation of the new Company, Riku Rautsola, PhD, was appointed as President and CEO of Laurantis Pharma. In addition, Inveni Capital and Helsinki University Funds made an investment in Laurantis Pharma.
“We are excited about the potential created by forming this new company. We have a broad portfolio, cost-efficient operation model, and several upcoming clinical milestones in the next couple of years,” said Dr. Rautsola. “This provides the unique opportunity to build Laurantis Pharma from an early clinical development company to a successful specialty pharmaceutical company in the coming years.”
Riku Rautsola has more than 25 years of international biopharmaceutical experience, most recently as President and CEO of VIRxSYS Corporation in the United States. Previously, Dr. Rautsola held various senior executive positions, among others, at Boehringer Ingelheim, Beiersdorf and Fresenius, and served on the board of directors of the Finnish drug development company Biotie Therapies.
“We are very excited about having the capacity to a build a competitive specialty pharmaceutical company with a strong technology base. Laurantis Pharma is well positioned to reach several significant clinical milestones for its lead products in the next two to three years,” said Lasse Leino, COO of Laurantis Pharma and previously CEO of BioCis Pharma.
Laurantis Pharma’s pipeline includes proprietary and patent-protected formulations and applications of cis-urocanic acid (cis-UCA), a locally acting anti-inflammatory and antiproliferative agent. Clinical candidates include an emulsion cream for atopic dermatitis (human and veterinary use), an intravesical product for the the treatment of non-muscle invasive bladder cancer and inflammatory conditions of the bladder such as interstitial cystitis, and an eye drop product for dry eye syndrome. The Company is also developing Lymfactin™, a vascular endothelial growth factor C (VEGF-C) in an adenoviral vector, for the treatment of secondary lymphedema. The first indication will be breast cancer-associated lymphedema.
About Laurantis Pharma
Laurantis Pharma Oy is a privately held specialty pharmaceutical company based in Finland. Laurantis Pharma Oy was formed in 2010 through the merger of two independent companies, BioCis Pharma Oy and Oy Lx Therapies Ltd. More information can be found at www.laurantis.com.
Woodcast by Onbone was granted the Chemical Industry Innovation Award on 23 April 2012. The Award was presented at the Chemical Industry Federation of Finland Theme Forum. In the reasoning, the product was characterised as a revolutionary innovation with significant global market potential. (more…)
Medeia Therapeutics Ltd has been accepted to the final stage of the Young Innovative Company (YIC) program financed by Tekes after successful completion of the previous tranche in February 2012. The overall size of the program is EUR 1.7 million. The funding is targeted to speed up and support the growth and internationalization of Medeia’s business.
“Medeia succeeded especially in revenue generation and development of strong IPR portfolio” says CEO Milla Koistinaho. “The business development goals set for us in the previous tranche were challenging, but at the same time very motivating, and they helped us focus on the value creation and preparations for international breakthrough. We look forward to achieving the next steps in the development and commercialization of our R&D portfolio. Medeia can now leverage resources that are critical for the execution of our near-term business development plans.” Koistinaho adds.
The second phase of Young Innovative Company funding can be granted in several tranches depending on the speed of company growth. The companies included in the final phase are those whose business model and expertise are at a level that guarantees the company a sustainable competitive advantage and rapid growth on the international market. In order to fund rapid growth, the company must also have significant external funding, typically from private equity investors.
Only a limited number of companies have achieved the final stage in YIC program and even fewer of these winners are life science companies. Altogether 68 companies have been accepted to the second phase of the program, of these only 13 are in the field of life sciences. Medeia is among the 2-3 Finnish life science companies that have reached the final stage in YIC program.