Aqilion project company Adenovir Pharma liquidated
Today AQILION AB announced that the extraordinary general meeting of the project company Adenovir Pharma AB resolved to liquidate the company. According to the decision, liquidation will begin on November 1, 2019.
Adenovir Pharma developed an antiviral medication (APD-209) to treat and potentially even to prevent the contagious eye disease epidemic keratoconjunctivitis (EKC), which is caused by a virus. The phase 2 trial with ADP-209 did not provide conclusive results since the number of patients in the study was insufficient to achieve statistical significance. This has made continued development and the possibility of selling the project difficult.
“It is always a disappointment when a project does not develop as desired. A successful drug discovery project requires solid science and step-by-step data-driven research and development. In the case of Adenovir Pharma, the company was founded based on solid innovative research and the project has developed according to plan until the phase 2 study. Demonstrating that a completely new innovative treatment works in patients is the goal throughout the entire development phase and no matter how a study is planned, you can only learn how effective the treatment is after completing the trial. In the case of Adenovir Pharma, the study results were not sufficient to motivate either a buyer or the existing owners to continue to advance the project to new clinical trials, which has contributed to the decision for voluntary liquidation,” says Sarah Fredriksson, chairman of the board of Adenovir Pharma AB and CEO of AQILION AB.
Adenovir Pharma AB was founded in 2008 by AQILION AB (at that time under the company name Partners för Utvecklingsinvesteringar inom Life Sciences, P.U.L.S. AB) together with its partners and the innovators behind the project idea. Aqilion continued to be the largest owner of Adenovir Pharma since its inception.
For more information, please contact:
Sarah Fredriksson, chairman of the board of Adenovir Pharma AB and CEO of AQILION AB, +46(0)70 261 4575, sarah.fredriksson@aqilion.com
About AQILION AB
Aqilion is a Swedish life science company that identifies unique pharmaceutical projects at an early phase in the drug discovery process and develops them in preparation for clinical trials. The goal is to demonstrate the clinical and commercial potential of the medical innovation to attract industrial partners and buyers, who in turn have the capacity to continue clinical development and take the product to market. The business model is based on involvement at an early stage and close collaboration with the innovator, regardless of whether the project is initiated by an external researcher, internal development project, or industrial partner. Aqilion prefers projects aimed at niche markets. Specialty medications and orphan drugs are of particular interest.
Aqilion has its headquarters in Helsingborg. Please visit www.aqilion.com.