Nanologica one step closer to milestone payment

Vicore Pharma AB (publ) will decide on an acquisition of INIM Pharma AB, where Nanologica AB is a minor shareholder, in an Extraordinary General Meeting. If the acquisition is carried out Nanologica will be paid a licence fee of 2 MSEK and a project based on Nanologica’s technical platform, licensed by INIM Pharma, will start.  

Vicore’s main focus is pulmonary diseases where the company’s drug candidate, C21, is facing a clinical phase II study within IPF, Idiopathic Pulmonary Fibrosis. The acquisition of INIM Pharma, will expand the project portfolio with an additional substance. This substance is intended for local treatment of severe interstitial lung diseases, such as IPF, according to the license agreement INIM and Nanologica AB entered in May, in which Nanologica’s formulation technology is applied on validated immunomodulatory drugs.

The acquisition of INIM Pharma is something we welcome as it creates a clear path forward towards clinical for Nanologica’s technical platform. It is a highly interesting project and we look forward to working with Vicore. This also means that a first payment of 2 MSEK for the license agreement will be paid out and that Nanologica, through the acquisition, also acquires a small ownership of Vicore, says Andreas Bhagwani, CEO of Nanologica.

Vicore’s acquisition of INIM will be through an issue of shares for consideration other than cash, whereupon Nanologica AB receives an ownership of 0,525 percent. The acquistion is subject to approval by an Extraordinary General Meeting (Vicore) expected to be held on Aug 13th, 2018.

For more information, please refer to the press release from Vicore.

 

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.

About Vicore Pharma Holding AB (publ)

Vicore Pharma AB develops drugs that act through the AT2 receptor. The company’s drug candidate C21 aims to improve the treatment of idiopathic pulmonary fibrosis, a rare disease for which C21 has been granted orphan drug designation both in the EU and USA. In addition, C21 is explored pre-clinically for a number of diseases where the AT2 receptor plays an important role. I-Tech AB is an associated company to Vicore Pharma Holding. The company has developed and commercialized Selektope®, an effective chemical agent used as an antifouling ingredient in antifouling paints. The companies are based in Astra Zeneca’s Bioventurehub in Mölndal. The company’s share (VICO) is listed for trading on Nasdaq First North in Stockholm with Erik Penser Bank as Certified Adviser. For more information, please refer to www.vicorepharma.com.

 

Press release as pdf

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