Colotech seeks investors for promising cancer drug development  

2002.11.26
Colotech A/S is preparing for Phase III trials of what could become the first preventive treatment for colorectal cancer

Jyllands-Posten reports that the Danish pharmaceutical development company Colotech A/S is preparing for Phase III trials of what promises to be the first preventive treatment for colorectal cancer. The trials will last for 3 years and will involve 1000 patients across 40 hospital centres in Denmark, Sweden, Germany and UK. Patients in the high risk group for developing colorectal cancer will be selected over the next 18 months. Colorectal cancer is the third most common form of cancer worldwide and has a very low survival rate.

 

Colotech has sufficient capital to finance its activities until the beginning of 2004. The company is looking for potential investors willing to put in DKK 37 million (USD 5 million) to cover the further development of the cancer drug, which could reach the market in 2007, as well as several other research projects which also need investment support. Founded in 1999, Copenhagen based Colotech A/S is owned by Raskov Holding ApS, Heimburger Holding ApS, and the Icelandic pharmaceutical company Pharmaco Hf. In the initial phase Colotech A/S received financial support from VækstFonden (The Danish Growth Fund) and Symbion Science Park.

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