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BioCis Pharma and Lx Therapies merge
TURKU, Finland—Two Finnish companies, BioCis Pharma Oy and Oy Lx Therapies Ltd., have merged to create Laurantis Pharma Oy, a clinical-stage specialty pharmaceutical development company.
Founded in 2003, BioCis is a clinical-stage drug-development company focused on unmet needs such as inflammation, allergy and cancer. Its development programs address dermatology, ophthalmology and urology. BioCis' patented ProtoDynamic Therapy technology regulates intracellular pH, including the proton or hydrogen ion concentration inside cells. The company has a Phase II program in atopic dermatitis, a Phase I program in bladder cancer and a preclinical program in dry eye syndrome.
Oy Lx Therapies, founded in 2008, is a drug discovery company focused on developing gene-mediated therapies for the prevention and treatment of diseases of lymphatic vasculature. The initial focus of the company is on breast cancer-related lymphedema, a relatively common complication of breast cancer treatment for which there is currently no cure or effective treatment.
In connection with the creation of the new company, Dr. Riku Rautsola, was appointed president and CEO of Laurantis Pharma. In addition, Inveni Capital and Helsinki University Funds made an investment in Laurantis Pharma.
"We are very excited about having the capacity to a build a competitive specialty pharmaceutical company with a strong technology base. Laurantis Pharma is well-positioned to reach several significant clinical milestones for its lead products in the next two to three years," Rautsola said in a statement. "This provides the unique opportunity to build Laurantis Pharma from an early clinical development company to a successful specialty pharmaceutical company in the coming years."
Lasse Leino, previously CEO of BioCis Pharma, will become chief operating officer of Laurantis Pharma.