Ideon start-up ready for the stock exchange

Posted: May 06, 2010 by Daniel Vámosi Martinussen

Øresund IT member Ideon Science Park has, through its Bioincubator, a strong candidate, PharmaLundensis, to the Swedish stock exchange, Aktietorvet.

The young biotech company in Lund has patented the treatment of their strong drug candidate, called IodoCarb, against the lung decease KOL. With such potential in the pipeline the company needs to raise SEK 6 million for further development.

Apart from an emission towards current owners, bringing in SEK 1 million, the company expects to encourage the remaining investments through a listing on the Swedish stock exchange.

"We expect that the listing will ease the raising of the financial resources required for our clinical studies," says CEO Staffan Skogvall to news agency Rapidus.

The company expects to finish the development of the drug candidate in three years at the earliest.

Source: Rapidus