Finnish Industry Investment Ltd. and the Swedish investment company Karolinska Development III AB, an affiliated company of Karolinska Institutet Holding AB, have invested 1.5 million EUR to BioCis Pharma Ltd. that develops new therapies for inflammation, allergy and cancer.
The customers of BioCis Pharma include other pharmaceutical companies that have a special interest in dermatology and oncology. The company technology is based on the therapeutic properties of cis-urocanic acid. The first products are being developed for topical treatment of inflammatory skin conditions, such as dermatitis and psoriasis, and for cancers and pre-cancers of the skin. In addition, BioCis Pharma has a product candidate for bladder cancer therapy.
" With this investment, we will speed up our product development projects. We aim to start the first clinical study with healthy subjects and patients in early next year", says Dr. Lasse Leino, the CEO of BioCis Pharma.
" We are targeting global markets, and currently, we are engaged in commercialisation negotiations with several potential customers", Leino continues.
"BioCis Pharma fits very well in our life science portfolio and we believe that our international networks and strategic expertise of the industry will give a lot of benefit to BioCis Pharma", says Investment Manager Lennart Hansson, Karolinska Development.
"BioCis Pharma has several advantages: The products are safer and better tolerated than the current therapies. In addition, the virtual company business model and an organisation with an effective cost structure are strengths for BioCis Pharma. Furthermore, a co-investment by an international investor gives a positive message", justifies Investment Manager Leila Ylikahri from Finnish Industry Investment.
Founded in 2003 and based in Turku, Finland, BioCis Pharma Ltd. has three full-time employees. BioCis Pharma Ltd is an innovative drug development company with business idea to develop drug therapies based on a novel therapeutic principle. BioCis Pharma is targeting unmet medical needs in substantial therapeutic markets including inflammation, allergy, and cancer. www.biocis.com
Karolinska Development invests in and develops early stage life science companies built on world class innovations. We manage three portfolios of more than 40 selected life science companies, aiming to create value through active ownership and management. Through early investments and operative work in our companies, KD aims to transfer world class innovations into commercial applications, while improving human health. www.karolinskadevelopment.ki.se
Finnish Industry Investment Ltd is a government-owned investment company. The company invests the proceeds accrued from the privatisation of state-owned companies in promoting the growth and internationalisation of Finnish businesses. Finnish Industry Investment invests in capital funds and also directly in companies. The targets are in all sectors. The company´s investments and investment commitments amount to some MEUR 430. www.teollisuussijoitus.fi
CEO Lasse Leino
, BioCis Pharma Ltd,
mobile +358 40 849 4694, lasse.leino(at)biocis.com
Investment Manager Leila Ylikahri
, Finnish Industry Investment Ltd.,
mobile +358 50 357 7053, leila.ylikahri(at)industryinvestment.com
Investment Manager Lennart Hansson
, Karolinska Development III AB,
mobile +46 (0)706 310 031, lennart.hansson(at)kab.ki.se