Strong VC-trio invest in PharmaSurgics wound healing product
PharmaSurgics AB has received SEK 17 million to complete the preclinical development of their candidate drug (PXL01). The primary indication for PXL01 is the prevention of post-surgical adhesions and the clinical documentation will start in Q1 2009.
The investment round led by Karolinska Development also included Östersjöstiftelsen and Midroc New Technology.PharmaSurgics is developing a novel pharmaceutical product for the prevention of post-surgical adhesions, based on the human protein lactoferrin.
Adhesions are bands of harmful scar tissue that develop after all types of surgical procedures and cause symptoms such as chronic pain, bowel obstruction, infertility and impaired mobility. The extensive problems associated with adhesions cause severe pain to millions of patients annually and lead to huge costs for healthcare systems across the globe.
Existing products on the market have failed to show clinical efficacy and have been associated with adverse effects or complicated handling.
The patented drug candidate PXL01 has demonstrated an excellent effect and safety profile in preclinical studies and the first clinical trial on patients are planned for the second half of 2009.
PharmaSurgics goal is to be first to market with a pharmacological product for the prevention of post-surgical adhesions.
PharmaSurgics in Sweden AB (“PharmaSurgics"), develops and commercializes a novel treatment for preventing harmful scarring and promoting wound healing after surgery. PharmaSurgics product concept is based on proprietary synthetic peptides of human lactoferrin which have strong anti-inflammatory and anti-infectious properties. The company was founded in 2005, based on extensive research by Dr. Inger Mattsby- Baltzer and Professor Kjell Olmarker at Sahlgrenska University Hospital, Göteborg, Sweden. PharmaSurgics offices and laboratories are located in Biotech Center in Göteborg.