15 December 2015: Recipharm and LIDDS have signed an exclusive collaboration agreement regarding scale-up of the production process and commercial manufacture of Liproca® Depot, LIDDS patented targeted treatment for prostate cancer. The agreement will be an important component for the upcoming Phase IIb study which is planned to start in 2016. In connection with the agreement, Recipharm invests SEK 5 million in a private placement, thus becoming the third largest shareholder of LIDDS.
”LIDDS’ technology platform is highly interesting as it potentially can be used for other, already approved therapies which may lead to shorter development time for new products. We are looking forward to collaborating with LIDDS through contributing our technical expertise within production, and thus delivering a more gentle treatment for prostate cancer patients in the future”, says CarlJohan Spak, EVP Development & Technology at Recipharm.
”We are very pleased that the agreement with Recipharm has been signed, as it is an important part of the preparations for the next clinical study. Recipharm is a well-reputed company with high quality, cost-effective processes for manufacturing. In addition, Recipharm has extensive experience collaborating with different types of organisations across the world. This agreement will strengthen the attraction for out-licensing of Liproca® Depot”, says Monica Wallter CEO of LIDDS.
Contact information Carl-Johan Spak, EVP Development & Technology Recipharm, +46 8-6025 313, carljohan.spak@recipharm.com Monica Wallter, CEO LIDDS, +46 (0)737 07 09 22, monica.wallter@liddspharma.com For media enquiries, please contact Tristan Jervis or Alex Heeley at De Facto Communications on: E-mail: t.jervis@defacto.com or a.heeley@defacto.com Tel: +44 (0) 207 735 8166.
About Recipharm
Recipharm is a leading CDMO (Contract Development and Manufacturing Organisation) in the pharmaceutical industry employing some 2,200 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material including API and pharmaceutical product development. Recipharm manufactures more than 400 different products to customers ranging from Big Pharma to smaller research- and development companies. Recipharm’s turnover is approximately SEK 3.4 billion and the Company operates development and manufacturing facilities in Sweden, France, the UK, Germany, Spain, Italy and Portugal and is headquartered in Jordbro, Sweden. The Recipharm B-share (RECI B) is listed on NASDAQ Stockholm. For more information about Recipharm and our services, please visit www.recipharm.com About LIDDS LIDDS’ goal is to develop medical products with fewer side effects to combat cancer diseases. The company’s most advanced project – the prostate cancer product Liproca® Depot with hydroxyflutamides – has demonstrated positive results in clinical tests with no hormonal side effects. LIDDS’ unique drug development technology releases drugs locally in close connection to the tumour. The medication is released over a long period, which reduces the number of doses. As LIDDS’ technology can utilise pharmaceutical substances that are already approved by the authorities, the development risk and the time and cost taken to obtain market approval is reduced.
About LIDDS
LIDDS’ goal is to develop medical products with fewer side effects to combat cancer diseases. The company’s most advanced project – the prostate cancer product Liproca® Depot with hydroxyflutamides – has demonstrated positive results in clinical tests with no hormonal side effects. LIDDS’ unique drug development technology releases drugs locally in close connection to the tumour. The medication is released over a long period, which reduces the number of doses. As LIDDS’ technology can utilise pharmaceutical substances that are already approved by the authorities, the development risk and the time and cost taken to obtain market approval is reduced. For more information, visit www.lidds.se
