EU research grants awarded to three of Karolinska Development’s portfolio companies
STOCKHOLM, SWEDEN – December 13, 2013. Karolinska Development today announced that its portfolio companies Pergamum, Inhalation Sciences Sweden (ISS) and XSpray Microparticles have been awarded research grants totaling more than EUR 1 million within the framework of the international research project FORMAMP. The goal is to develop new ways to treat infectious diseases in order to reduce the problem of antibiotic resistance.
”The three portfolio companies are engaged in potentially pioneering activities in the anti??infective area – Pergamum’s antimicrobial peptide DPK-060 has been documented in a Phase II clinical trial and both XSpray and ISS develop technologies to transport drug substances to the right place in the body. The EU project provides us with increased opportunities to exploit synergies between the involved companies’ knowledge and projects,” says Torbjörn Bjerke, CEO of Karolinska Development.
In the EU project FORMAMP (Innovative Nano Formulation of Antimicrobial Peptides to Treat Bacterial Infectious Diseases), a team of researchers, coordinated by the SP Technical Research Institute of Sweden, will develop new strategies for the treatment of infections. A total of 16 partners are engaged in the project, which has a total budget of over SEK 90 million and runs over four years. Karolinska Development’s portfolio company Pergamum has been allocated EUR 250 000, ISS EUR 384 000 and XSpray Microparticles EUR 401 000. The project was launched at a kick-off meeting in Stockholm on 12 December 2013.
For further information, please contact:
Torbjörn Bjerke, CEO, Karolinska Development AB
Phone: +46 (0)72 744 41 23, e-mail: torbjorn.bjerke@karolinskadevelopment.com
Benjamin Nordin, IRO, Karolinska Development AB
Phone: +46 (0)73 093 60 80, e-mail: benjamin.nordin@karolinskadevelopment.com
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About Karolinska Development AB?
Karolinska Development aims to create value for patients, researchers, and investors by developing innovations from world-class science into products that can be sold or out-licensed with high returns. The business model is to: SELECT the most commercially attractive medical innovations; DEVELOP innovations to the stage where the greatest return on investment can be achieved; and COMMERCIALIZE the innovations through the sale of companies or out-licensing of products. An exclusive deal flow agreement with Karolinska Institutet Innovations AB, along with other cooperation agreements with leading universities, delivers a continuous flow of innovations. Today, the portfolio consists of 35 projects, of which 16 are in clinical development. For more information, please visit www.karolinskadevelopment.com.