News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Pantec Biosolutions AG Closes CHF 20 Million Financing


7/20/2010 6:36:18 AM

RUGGELL, Liechtenstein--(BUSINESS WIRE)--Pantec Biosolutions AG, a privately-owned company developing innovative technologies for transdermal drug delivery, today announced the closing of a CHF 20 million investment achieved by two financing rounds. The StemCell Holding AG, an Austrian investment company in the life sciences sector, acted as lead investor. No further terms were disclosed.

The investment strengthens Pantec’s financial position and paves the way for the next strategic steps in Pantec´s development. The money raised in this financing round will be used to drive the development of P.L.E.A.S.E.® IVF, i.e. the Company’s two proprietary transdermal hormone patch candidates in combination with P.L.E.A.S.E. (Painless Laser Epidermal System) for In-Vitro Fertilisation (IVF) therapy, up to market approval and to further fund the market launch of their new P.L.E.A.S.E.® Professional product line for dermatology applications.

Dr. Christof Boehler, CEO of Pantec Biosolutions, commented: “We are delighted that our new investor StemCell Holding has shown such a solid commitment to Pantec and our visions for the future of needle-free IVF treatment. This financing will allow us to move ahead with the clinical development of the P.L.E.A.S.E. ® IVF platform and visualise our goal of reaching market approval in Europe.”

StemCell Holding's CEO remarked: “Pantec’s unique technology platform, combined with a strong know-how in laser technology and drug delivery, makes the Company a unique and exciting enterprise with a vast potential for success. Our decision to invest was also driven by excellent results in the due diligence process and Pantec Biosolutions' convincing management team".

Following this successful financing round, Pantec will also add two new members to the Company’s Board of Directors: Dr. Manfred Asamer, CEO of Asamer Holding AG and Dr. Werner Lanthaler, the current CEO of Evotec and the ex-CFO of Intercell.

About Pantec Biosolutions and P.L.E.A.S.E.® Pantec Biosolutions AG is a private drug delivery company specialised in using laser microporation technology to deliver large molecular weight drugs into the epidermis for local or systemic uptake. Its proprietary P.L.E.A.S.E.® (Painless Laser Epidermal System) platform enables efficient, needle-free and painless administration of biopharmaceutical drugs, in varying and individualised dosages, through partnered patch technology. The technology is currently in clinical trials for the delivery of IVF hormone therapy, a market with an estimated value of US$1.5 – 2 billion.

Pantec Biosolutions’ P.L.E.A.S.E.® platform is available both for the development of the Company’s own pipeline and for penetration into new markets through strategic partnerships. Pantec Biosolutions is based in Ruggell, Liechtenstein.

About StemCell Holding AG Stemcell Holding AG is a private equity investment vehicle with a strategy to invest longterm in biomedical and hightech companies.

Contact:

Pantec Biosolutions AG Dr. Christof Boehler CEO t: +423 377 7800 e: info@pantec-biosolutions.com or College Hill Life Sciences Dr. Douglas Pretsell Associate Partner t: +49 (0)89 57 00 18 06 e: douglas.pretsell@collegehill.com


Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES