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news.Finland-based drug development company BioCis Pharma has received almost E1.6 million new R&D financing. The money is specifically targeted for the clinical testing of the company's dermatology products.
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The financing consists of a significant product development loan from the Finnish Funding Agency for Technology and Innovation, Tekes, and an equity funding from Midroc New Technology, a Swedish venture capital company.
Lasse Leino, CEO of BioCis Pharma, said: “The new financing will further speed up the clinical Phase I/II program of our topical emulsion cream product. It is our intention to carry out up to four separate clinical studies in healthy volunteers and patients with inflammatory skin conditions, such as atopic dermatitis.”
Goran Linder, CEO of Midroc New Technology, said: “BioCis Pharma is an interesting investment opportunity because its technology is based on a physiological substance occurring naturally in the body. The company fits well in our portfolio.”