TURKU, Finland, September 9 /PRNewswire/ -- BioCis Pharma Ltd announced that it has received almost 1.6 million EURO new R&D financing. The money is specifically targeted for the clinical testing of the company's dermatology products.
"The new financing will further speed up the clinical phase I/II programme of our topical emulsion cream product. It is our intention to carry out up to four separate clinical studies in healthy volunteers and patients with inflammatory skin conditions, such as atopic dermatitis" says Lasse Leino, CEO of BioCis Pharma.
The financing consists of a significant product development loan from the Finnish Funding Agency for Technology and Innovation, Tekes, and an equity funding from Midroc New Technology AB, a Swedish venture capital company.
"BioCis Pharma is an interesting investment opportunity because its technology is based on a physiological substance occurring naturally in the body. The company fits well in our portfolio" says Göran Linder, CEO of Midroc New Technology AB.
BioCis Pharma is developing a novel product for the treatment of skin atopy, skin allergies and mild to moderate psoriasis which is currently in clinical testing. The company is also developing other proprietary products which are in late preclinical or early clinical development phase.
BioCis Pharma Ltd is an innovative drug development company, developing drug therapies based on a novel, patented therapeutic principle. BioCis Pharma is targeting unmet medical needs in several therapeutic areas including inflammation, allergy and cancer. The company's main investors are Karolinska Development AB (publ.), Finnish Industry Investment Ltd., and Etra Invest Ltd.
Contacts: Dr. Lasse Leino, CEO, BioCis Pharma Ltd. Mobile phone +358-40-849-4694 lasse.leino@biocis.com
Contacts: Dr. Lasse Leino, CEO, BioCis Pharma Ltd., Mobile phone +358-40-849-4694, lasse.leino@biocis.com
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