Intrance Medical Systems Inc., a subsidiary of Sweden-based Intrance Holdings AB, secured USD $8m in funding.
Swedish real estate investor Erik Selin made the investement through his private company, Erik Selin Fastigheter AB. Mr. Selin has agreed to become the anchor investor as part of a Series A financing round of USD $15m, becoming the largest shareholder next to the founders.
Funding will be used to initiate the U.S. clinical development program for its fixed-dose combination treatment of carbidopa, entacapone and levodopa for enteral infusion in advanced Parkinson’s disease patients. The product is currently marketed as Lecigon® in the Nordic countries and certain European markets.
Led by Ulf Rosén, Chairman of the Board and Co-founder, Intrance Medical Systems was established in 2018 as an independent spin-out from Sweden-based Lobsor Pharmaceuticals AB, founded by Ulf Rosén and Roger Bolsöy.
Lobsor developed and patented a triple-combination of carbidopa, entacapone and levodopa for infusion via a lightweight, wearable pump that delivers the drug directly into the small intestine for the treatment of advanced Parkinson’s disease.
Intrance’s product system is currently commercialized in Europe under the name Lecigon® by STADA/Britannia which acquired Lobsor Pharmaceuticals in September 2020. Intrance owns a portfolio of patents and patent applications covering the U.S., Canada and Japan. In addition to these countries, Intrance has the commercial rights in South/Central America as well.
Intrance Medical Systems is a private biopharmaceutical company focused on the development and commercialization of its lead clinical product for the treatment of advanced Parkinson’s disease in the U.S., Canada, Mexico, South America, Japan and Taiwan. Its lead product, known as Lecigon® in Europe, is a fixed-dose combination treatment of carbidopa, entacapone and levodopa, for enteral infusion in advanced Parkinson’s disease patients. The product is commercially launched in several key markets and rapidly gaining market share and user acceptance. The company is planning to advance its U.S. clinical development program in this target indication and has filed an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA).
FinSMEs
20/09/2021