Biovitrum Enters Development Agreement with Swedish Biotech Company Synphora
Biovitrum has entered an agreement with the Uppsala-based biotech company Synphora regarding a new drug candidate (JB991) for the treatment of the skin disease psoriasis and other conditions. JB991 is a prostaglandin derivative, i. e. a substance which is based on prostaglandin, a local hormone that naturally occurs in the body and plays an important role for the control of inflammation. JB991 is in development by Synphora. The project is currently undergoing a clinical Phase I study.
Under the terms of the agreement Biovitrum will co-finance Synphora's ongoing study and, if the study is successful, also the following Phase II study with a maximum of SEK five million in total. Synphora remains fully responsible for developing JB991 up to and including clinical phase IIa. In return for the investment Biovitrum will after Phase IIa , under certain provisions, be entitled to acquire the project according to predetermined terms.
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