During August and September AcuCort AB implemented a preferential new share issue amounting to MSEK 6, which was over-subscribed. The share issue was implemented in order to provide capital for the operations and to broaden the ownership in preparation for a planned listing in 2017.
AcuCort has developed a rapidly dissolving film containing the well-documented glucocorticoid Dexamethasone, which is used by allergics, among others. In the EU and the US alone there are at least 25 million people at risk for severe allergic reactions from food or insect stings.
“We are very satisfied with the share issue. The new capital will primarily be used for preparation of studies required for market approval in the EU and the US, and for a more in-depth analysis of the US market,” says AcuCort Chairman of the Board, Sten R Sörensen.
The share issue was subscribed for by more than 40 private investors, including both new and previous shareholders. The majority owner of AcuCort AB, life science company P.U.L.S. AB, also took part in the share issue.
User-friendly and faster uptake
Allergic reactions can occur suddenly and then AcuCort’s rapidly dissolving film, Dexa ODF, is ideal as the package is no larger than a business card and therefore easy to always carry with you. The film dissolves rapidly when placed on the tongue and the medical effect is activated. This distinguishes the product from tablets that should first be dissolved in water and then swallowed, which may be very cumbersome in an acute situation.
AcuCort has previously carried out a so-called bioequivalence study, demonstrating that the rapidly dissolving film Dexa ODF is comparable to the corresponding dose of Dexamethasone in tablet form. The study also shows that the absorption of the active substance is 23% faster with the film.
“A fast uptake of the active substance, the fact that no tablet needs to be swallowed and access to water is not required are important benefits in stressed situations such as acute allergic reactions, not least for persons with difficulties to swallow. We therefore have great expectations on Dexa ODF as we are convinced that the product will add significant value for the user,” says Mats Lindfors, CEO of AcuCort.
The company aims for regulatory approval of Dexa ODF in the EU in 2018.
For more information, please contact
Mats Lindfors, CEO, AcuCort AB, +46 (0)70 790 5815, firstname.lastname@example.org
About Dexa ODF
AcuCort’s Dexa ODF (Oral Dissolvable Film) is a novel, smart, patented product. It contains the glucocorticoid Dexamethasone, which is a well-known, well-used and well-documented anti-inflammatory substance. Dexa ODF is a thin, rapidly dissolving user-friendly film that dissolves on the tongue, not requiring swallowing or water. The film is kept in a small and convenient package designed to be easy to carry around by those in need.
Millions of patients around the world every year use drugs containing glucocorticoids against allergic reactions and croup. But also cancer patients suffering chemotherapy-induced nausea and vomiting (CINV) use this type of drug. A major disadvantage is that these drugs are not perceived as user-friendly or require assistance by medical staff. For example, the need for first dissolving the tablets in water may be felt to be very cumbersome in an acute situation, by the affected person as well as by persons assisting the patient. The patient may have difficulties swallowing, so a rapidly dissolving film that is placed on the tongue, with the same effect as a tablet, may have a wide range of applications in the future.
AcuCort AB was incorporated in the project portfolio of P.U.L.S. AB in 2011. The company develops and commercializes Dexa ODF, a rapidly dissolving oral film containing the glucocorticoid Dexamethasone. The product can among other things be used for the treatment of acute allergic reactions, croup and CINV (chemotherapy-induced nausea and vomiting).
P.U.L.S. AB (Partners för Utvecklingsinvesteringar inom Life Sciences) is a unique life science development company. PULS invests in projects at an early stage and develops the innovations in close collaboration with the innovators from ideas to attractive investment projects for the industry. Since 2002 PULS has started 10 project companies and exited three, one of which has been listed (LIDDS). PULS has its headquarters in Helsingborg, Sweden. Active project companies are: AcuCort, Adenovir Pharma, Glactone Pharma, Laccure, Oncorena and Trophea. www.pulsinvest.se.
P.U.L.S. AB (Partners för Utvecklingsinvesteringar inom Life Sciences) är ett unikt utvecklingsbolag inom life science. PULS investerar i tidiga projekt och aktivt utvecklar dem i nära samarbete med innovatörerna hela vägen från idé till attraktiva projekt för industrin. Sedan 2002 har PULS startat tio projektbolag och avyttrat tre, varav ett är börsintroducerat (LIDDS). PULS har sitt huvudkontor i Helsingborg. PULS pågående projekt är: AcuCort, Adenovir Pharma, Glactone Pharma, Laccure, Oncorena och Trophea. www.pulsinvest.se.