Nanologica licenses part of its technology platform to INIM Pharma AB, a company set up by HealthCap. The new company is focused on certain therapeutic areas. Nanologica will obtain a minor ownership in the company, receive a fee of 2 MSEK when the company has been financed, and additional 1 MSEK for every project that goes into clinical trial, as well as remuneration for development work carried out for the new company.
The license agreement is Nanologica’s first and covers usage of the technology platform together with three pharmaceutical classifications. Nanologica has previously conducted projects with around fifteen pharmaceutical companies that have evaluated the technology platform. During 2016 Nanologica concentrated its work within drug delivery areas in which the platform has proven to be best suited. Since then additional projects have been carried out and are ongoing. Nanologica is also financing its own development project towards clinical applications based on the technology.
”The license agreement with INIM Pharma marks an important milestone for Nanologica and our platform in drug delivery. INIM Pharma works according to a set plan for taking at least one, but probably several projects into clinical trials, which means that in addition to remuneration we also receive brand new and commercially valuable data”, says Andreas Bhagwani, CEO of Nanologica.
”Nanologica’s formulation technology has a unique ability to handle poorly soluble substances and make them accessible as pharmaceuticals”, says Carl-Johan Dalsgaard, Venture Partner of HealthCap and founder of INIM Pharma.
As a step in the working process for developing pharmaceuticals the new company will conduct pre-clinical toxicolgy trials and manufacture material according to GMP standards. Nanologica will be able to use documentation for other non-conflicting purposes.
For additional information, please contact:
Andreas Bhagwani, CEO of Nanologica
Ph: +46 70 316 17 02 or e-mail andreas.bhagwani@nanologica.com
ABOUT NANOLOGICA AB (publ)
Nanologica develops nanoporous silica for applications in life science. The company focuses on two business areas: drug delivery and chromatography, a technology used for the separation and purification of products on the market and in development. Nanologica’s core competence is to apply its unique know-how in the field of material science for developing nanoporous silica particles with unique characteristics. Based in Södertälje, Sweden, Nanologica has 16 employees from eight nationalities of which eight are PhDs. For more information, please visit www.nanologica.com.