Innovative psoriasis therapy, only a few years away
(16.8.2007) During summer 2007, Valderm has received further considerable funding from SEED Capital Denmark and a group of private investors to complete Phase IIA trials of a promising psoriasis treatment. This innovative therapy has demonstrated positive results in pre-clinical studies and may be on the market in just a few years.
Behind Valderm's product lies the observation that certain anthracycline analogues are surprisingly nontoxic, and ideal for dermatological use.
Valderm was founded in 2003 and exemplifies a company that has been, from the outset, developed by SEED Capital Denmark.
"Any doubts regarding unwanted, adverse affects and stability were swept away during the first few years of the company's life, and we are now confident that we have a clear path for product development. This has given us hope that we will actually be able to develop an innovative product for psoriasis, based on our own original idea, which is extremely rare and very gratifying," says Bjarne Bymose, MD, founder and Board member of Valderm.
In early 2006, Elisabeth de Darkó stepped in as CEO for the company. She has previously initiated products for dermatological use.
"We were very pleased that Elisabeth decided to contribute to Valderm, where we see a rare fit of competencies and interests. Elisabeth has been key in securing a faster than normal proof of concept in animals (a validated human graft model of psoriasis), because she has a network within the scientific community and was able to motivate an interest in the project from internationally highly respected scientists." says Carsten Schou, Partner, Seed Capital.
The Chairman of the Board, renowned biotech entrepreneur Leif Helth Jensen, says,
"I have been involved in a number of biotechnology, pharmaceutical, and other startup companies over the years, but I rarely see companies with such a short time to market in the pharmaceutical area. In my opinion, the risk profile of the company is highly attractive, due to a very low burn rate combined with a high level of documentation, as well as extensive market knowledge. In the competitive arena, we have observed nothing really new on the way for the mild to moderate group of patients, except perhaps new Vitamin D analogues that will be subject to generic competition due to patent run-outs. Therefore, we see a strong business case behind Valderm."
Valderm believes that the innovative therapy that has demonstrated positive results in pre-clinical studies will be attractive to patients and will most likely be on the market in a few years.
Please visit our portfolio description of Valderm
Web: www.valderm.dk
Read relevant article in Børsen "Valderm udfordrer Leo på psoriasismedicin" (August 17, 2007, in Danish only)
For further information, please contact
Ole Bitsch-Jensen , Investment Manager
Phone: +45 45256782
(Published: August 17, 2007)