Aqilion project company Trophea to be liquidated
Today AQILION AB announced that the extraordinary general meeting of the project company Trophea AB, with its wholly owned subsidiary Trophea Development AB, resolved to liquidate the companies. According to the decision, liquidation will begin on December 28, 2019.
The project company Trophea is developing a potential combination product, a topical gel, for the treatment of skin atrophy (thinning of the skin). It is a known problem that the patient may develop skin atrophy as a side effect of prolonged treatment using potent topical steroids (corticosteroids). The extraordinary general meeting of Trophea AB, with its wholly owned subsidiary Trophea Development AB, resolved on December 19, 2019 to liquidate both companies. Liquidation will begin on December 28, 2019.
Aqilion identifies unique life science ideas that have the potential to become new medications and refines them into commercially interesting projects. Each development project is run separately, sometimes as an individual subsidiary, supported by common central resources. As a result of an inventory and validation of the portfolio companies carried out during the year, Aqilion chose not to continue to invest in Trophea. Aqilion’s decision is based on a proactive risk minimization strategy and a sound business approach, in line with the company’s strategy and business model. After a review of all of the project’s scientific and preclinical data combined with a risk and market analysis prior to the previously planned Phase 2 study, the conclusion is that the current study design is not feasible. The project requires a new start, which Aqilion has chosen not to finance.
“Of course, it is a shame not to be able to continue to invest in all projects in Aqilion’s portfolio. However, it is essential for us to stop investing in or to shut down those development projects that do not meet Aqilion’s objectives, and that we do so at an appropriate time. It is equally important to identify risks early in the projects in order to foster proactive leadership and a sound business approach,” says Sarah Fredriksson, CEO of AQILION AB.The Trophea companies were founded in 2015 by Partners för Utvecklingsinvesteringar inom Life Sciences, P.U.L.S. AB (now known as AQILION AB) along with the network group PULS partners, which was active at the time, and the innovators behind the project idea. Aqilion continued to be the largest owner of Trophea since its inception.
For more information, please contact
Sarah Fredriksson, CEO, 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 prefersprefers projects aimed at niche markets. Specialty medications (high-cost, high complexity and/or high touch drugs) and orphan drugs (drugs to treat diseases so rare that they would be unprofitable to produce without government assistance) are particularly interesting. Aqilion has its headquarters in Helsingborg. Please visit www.aqilion.com.