Diabact pharmaceutical company gets capital infusion of 40 million Swedish crowns from issue of new shares

Diabact pharmaceutical company gets capital infusion of 40 million Swedish crowns from issue of new shares Björn Forsman becomes new CEO of Diabact Diabact AB of Uppsala, Sweden, a pharmaceutical company working in the field of drug delivery, has received a 40 million Swedish crown capital infusion, thanks to an issue of new shares. Drug delivery means that the active pharmaceutical substance is given a dosage form that is adapted to the properties of the substance and the condition to be treated. The HealthCap KB venture capital company acted as underwriters for this issue. Björn Forsman was appointed the CEO of Diabact AB, succeeding Thomas Lundqvist, both one of the founders of the company and the previous CEO. Björn Forsman was previously the head of the Aesthetics business unit of the Q-Med, a company quoted on the stock exchange. During the course of almost 25 years, he has held positions in international pharmaceutical companies such as Janssen-Cilag, Kabi Vitrum and Pharmacia. Thomas Lundqvist has assumed the position of Director of Research and Development at Diabact AB. "The capital infusion of 40 million crowns now received by Diabact will give us excellent opportunities to develop the Company's technical platforms in order to commercialise current and future products successfully," observes Björn Forsman, CEO of Diabact. "There are many factors that promote the development of drug delivery as a separate niche, one of which is the public sector demand for cheaper and more efficient medications. Diabact develops, manufactures, documents and registers new pharmaceuticals, based on patented pharmaceutical forms. With the help of these innovative forms, Diabact adds value to new, as well as older existing medications. Diabact, on its own, or in collaboration with researchers and other companies, develops medications based on unique technology. The Company intends to apply to be quoted on the Stockholm Stock Exchange within three to five years. The Company is conducting a number of interesting pharmaceutical projects based on platforms for those indications in which the Company has expertise. One pharmaceutical project, Rapinyl® is intended to treat acute pain. The product is now being documented for break-through pain in cancer. Rapinyl® is based on the Company's patented technical platforms regarding fast-acting effects and rapid disintegration of pharmaceutical forms. The project is currently in clinical phase II. Diabact, itself, has developed and registered a patented medication, called Diabact® UBT for the diagnosis of the Helicobacter Pylori ulcer bacteria. This product is now being marketed in Sweden and Finland. Negotiations are being conducted for distribution agreements on a large number of European markets. Diabact, based in Uppsala, currently employs a staff of twelve. The Company has a production plant that is approved by the Medical Products Agency of Sweden, and satisfies international requirements for the development and production of pharmaceuticals. In Uppsala, there is a biomedical network that includes university departments, the academic hospital, the Medical Products Agency and other biomedical companies, and offers us many fine opportunities for the development of new pharmaceutical products. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/05/15/20040622BIT20070/wkr0001.pdf