Danish biotech company LifeCycle Pharma raises major investment  

2005.05.18
Danish biotech company LifeCycle Pharma has gained a DKK 114 mn investment from new international investors including US based Alta Partners and existing investors

Danish biotech company LifeCycle Pharma has gained a DKK 114 mn (USD 19.4 mn) investment from two new international investors, USA's second largest biotech investment fund Alta Partners and the Swiss capital fund Adamant, as well as from existing investors Lundbeck, Novo and Nordic Biotech. Dr Jean Deleage, co-founder and director of Alta Partners will join LifeCycle Pharma's Board of Directors.

The investment will be used to advance LifeCycle Pharma's main drug projects from clinical phase to registration. One of these drugs is an improved formulation of fenofibrate, LCP-Feno, a cholesterol-lowering product created with the company's MeltDose technology. LifeCycle Pharma has achieved positive results in a pivotal clinical trial of LCP-Feno, and expects to file for market registration in H2 this year.

LifeCycle Pharma is based in Hørsholm north of Copenhagen. The company has developed a clinically validated drug-delivery platform that solves the insufficiencies of drugs with low water solubility, thereby improving the bioavailability of marketed drugs and new chemical entities (NCEs). LifeCycle Pharma collaborates with Recordati S.p.A and Lundbeck. The news is reported by financial daily newspaper Børsen.

Link > LifeCycle Pharma 

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