LU Bioscience increases position in ProNoxis
LU Bioscience continues to invest in ProNoxis AB following successful fulfilment of milestone. LU Bio has invested SEK 3,0 million in two tranches and holds now a position in ProNoxis of 19%.LU Bioscience has a long term intention to continue investments in successful portfolio companies. ProNoxis has achieved the first milestone according to the development plan with good results.
"I value the progress made in ProNoxis" says Thomas Andersson, CEO of LU Bio. "We closely monitor the achievements and progress in our portfolio companies in order to successfully build our investment company within the field of bioscience."
ProNoxis is a spin out company from Redoxis and is focused on developing anti-inflammatory therapeutics that act through the NADPH oxidase complex (NOX2), an invention based on the research by Prof Rikard Holmdahl and Dr Peter Olofsson.
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