Leading US-Swedish entrepreneur Rutger Arnhult invests in Intrance Medical Inc’s advanced stage Parkinson’s disease treatment system
Stockholm, Sweden, November 2, 2021: Leading US-Scandinavian real estate entrepreneur Rutger Arnhult has, via his private company M2 Asset Management AB, agreed to invest in New York based Intrance Medical Systems Inc. Intrance is a private biopharmaceutical company focused on the development and commercialization of its lead clinical product for the treatment of advanced Parkinson’s disease in the U.S., Canada, Mexico, South America, Japan, and Taiwan. The Company is currently raising a series A round of USD 15 million to initiate pivotal clinical trials for anticipated FDA approval and subsequent commercial launch in the US in late 2024. Previously, Erik Selin has committed to invest 8 out of the USD 15 million and Rutger Arnhult has now agreed to invest an additional USD 3 million and becomes a significant shareholder of the company.
“I am delighted to welcome Rutger Arnhult as shareholder in the company. The Series A round is now fully subscribed and will be closed over the next few days. However, we are in talks with additional investors and the board has agreed to a capped over-subscription.”, says Chairman and Co-founder Ulf Rosén.
He continues “The timing of providing significant financial resources to the company plays well into the plan to initiate the clinical development program, obtain IND clearance and subsequent pivotal study initiation planned for early 2022”.
Intrance Medical Systems (IMS) was established in 2018 as an independent spin-out from Swedish Lobsor Pharmaceuticals AB, founded by Ulf Rosén and Roger Bolsöy. Lobsor developed and patented the triple combination of levodopa/carbidopa and entacapone for infusion directly into the small intestine via a light wight wearable pump. In the later stages of the disease, oral medication becomes cumbersome and complex with a deterioration of day-to-day functionality and Quality of Life (QoL). By infusing the active substances directly into the small intestine, medication can be controlled with regained functionality and QoL. The product system is currently commercialized in Europe under the name Lecigon® by STADA/Britannia who acquired Lobsor Pharmaceuticals in September 2020. IMS owns a portfolio of patents and patent applications covering USA, Canada, and Japan. Beside these countries, IMS also has the commercial rights in South/Central America.
“Investing in the life science segment is not new to me. The product has been validated by regulatory agencies in EU and a strategic buyer of the EU asset which is now in commercial phase – the product works and is accepted by the market” says Rutger Arnhult. He continues “beside the commercial potential in the US, I want to be a part of a company that can change people’s lives in a positive way.”
About Intrance Medical Systems
Intrance Medical Systems, Inc is a private biopharmaceutical company focused on the development and commercialization of its lead clinical product for the treatment of advanced Parkinson’s disease in the U.S., Canada, Mexico, South America, Japan and Taiwan. Intrance’s lead product, known as Lecigon® in Europe, is a fixed-dose combination treatment of levodopa, carbidopa and entacapone for enteral infusion in advanced Parkinson’s disease patients. The product is successfully commercially launched in several key markets and rapidly gaining market share and user acceptance. The company is planning to advance its U.S. clinical development program in this target indication and has filed an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA). For more information, visit intrancemedical.com.
Corporate/Investor Contact:
Patrick Shea Ulf Rosén
Chief Executive Officer Chairman of the Board
Intrance Medical Systems Inc. Intrance Medical Systems Inc.
Patrick.shea@intrancemedical.com Ulf.rosen@intrancemedical.com
About Rutger Arnhult
Rutger Arnhult (born 1967), is a leading Swedish entrepreneur and businessman primarily focusing on real estate investments in both Scandinavia and the US. Has a MSc in Business Management. Having previously worked as a financial analyst, he entered the real estate market in 1996 and built a strong reputation, forming several companies including Corem and Klövern that have listed on the Swedish stock market.
At Klövern, Mr. Arnhult initiated the purchase and developing of projects in Mid-Manhattan starting in 2018 with 1245 Broadway, soon after 28&7 on 7th Av, 417 Park Ave and most recently 118 10th Av. Comprising a total of 400.000 sq.feet of premium quality office premises, this makes him the leading player among a group of Scandinavian real estate investors with projects on Manhattan.
Mr Arnhult’s initial private property company M2 Asset Management, now acts as a holding company for a number of significant investments in several Nordic listed property companies including Corem, Sagax, Wästbygg and Castellum. The latter is the largest listed property company in the Nordics and since March 2021, Mr Arnhult has acted as Chair of the board. He has overseen the recent merger with another major property company Kungsleden and acquired a controlling position in the Norwegian company Entra.
Beside property, M2 Asset Management has also taken part in other investments, including medtech- and biotech projects.
