Danish biotech company Zealand Pharma has got back on its feet after some years of management unrest and a failed stock exchange listing, writes financial daily newspaper Børsen. Consultant company Frost & Sullivan will give Zealand Pharma an award in the near future for being Europe's best in research and development, and according to Zealand Pharma's new Canadian MD David Solomon, the company could be ready for a stock exchange listing in Q3 this year despite the global economic crisis.
The optimism in Zealand Pharma is in strong contrast to the biotech industry in general where lack of venture capital is threatening the viability of a number of the country's promising biotech companies.
David Solomon says: "Zealand [Pharma] is now a promising company with global potential. We have and will continue to have our base in Denmark, but we could easily be listed in other countries such as Switzerland or USA if that is more suitable". Solomon adds that Zealand Pharma is also looking at becoming stock exchange listed via an acquisition of a stock exchange listed player in the pharmaceutical industry.
Zealand Pharma's most important and valuable product is ZP10, a drug for the treatment of type 2 diabetes which the company is developing in collaboration with the world's second largest pharmaceutical company, France's Sanofi-Aventis.
Zealand Pharma focuses on the discovery and development of peptide-based drugs. The company writes on its website that its pipeline includes one compound in phase III clinical development, one compound in phase II, three compounds in phase I and two in preclinical phase. Based in Copenhagen and employing 65 people, Zealand Pharma has existing clinical development partnerships with Sanofi-Aventis, Helsinn Healthcare and Wyeth.