Aqilion sells shareholdings in portfolio company Glactone Pharma
AQILION AB is selling its entire stake in the portfolio company Glactone Pharma AB to Daniel Lifveredson Invest AB. The purchase price is divided into a smaller amount as initial payment at the time of takeover and an additional payment based on Glactone Pharma's future performance.
Glactone Pharma AB was founded in 2012 as a project company within what was then known as Partners för Utvecklingsinvesteringar inom Life Sciences, P.U.L.S. AB, now known as AQILION AB. Glactone Pharma develops innovative new drug candidates for treatment of late-stage prostate cancer (castration-resistant prostate cancer). The innovators’ idea is based on a naturally occurring molecule that has been shown to bind to and block STAT3, which is overactive in cancer cells, and contributes to the unrestrained growth of castration-resistant prostate cancer cells. Since STAT3 is involved in many of the central disease processes in cancer, STAT3 blocking is considered to be one of the most promising new methods for treating various types of cancer.
In accordance with Aqilion's strategy and business model, the company has inventoried its respective holdings in the portfolio companies. Aqilion's assessment is that Glactone Pharma will have better opportunities and conditions for its successful continued development under a new principal owner, for which reason Aqilion has now sold its entire stake in the company.
“Glactone Pharma’s research and development is both thorough and innovative. With a new principal owner in place, the company will have the opportunity to develop both existing intellectual property rights and completely new drug candidates. I look forward to following Glactone Pharma’s progress, since its innovators, along with its management and owners, now have excellent prospects for successful future development,” says Sarah Fredriksson, CEO of Aqilion.
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 prefers 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.