LU Bioscience increases position in ProNoxis
(Thomson Reuters ONE) - LU Bioscience continues to invest in ProNoxis AB following successfulfulfilment of milestone. LU Bio has invested SEK 3,0 million in twotranches and holds now a position in ProNoxis of 19%.LU Bioscience has a long term intention to continue investments insuccessful portfolio companies. ProNoxis has achieved the firstmilestone according to the development plan with good results."I value the progress made in ProNoxis" says Thomas Andersson, CEO ofLU Bio. "We closely monitor the achievements and progress in ourportfolio companies in order to successfully build our investmentcompany within the field of bioscience."ProNoxis is a spin out company from Redoxis and is focused ondeveloping anti-inflammatory therapeutics that act through the NADPHoxidase complex (NOX2), an invention based on the research by ProfRikard Holmdahl and Dr Peter Olofsson.ProNoxis was formed in May 2009 with investments made by LUBioscience (lead investor) and Karolinska Development. ProNoxis hasnow fulfilled the first milestone in the development ofanti-inflammatory therapeutics by defining a set of chemical entitiesthat show good effects both in cell assays and in animal transfermodels. This achieved milestone leads to further investments by thecurrent owners.For more information, please contact:Anki Malmborg Hager, Investment Director, anki(at)lubio.se, telephone+46 768 48 28 22Thomas Andersson, CEO, thomas(at)lubio.se, telephone +46 70 287 00 15About LU Bioscience ABLund University Bioscience AB (LU Bio) was established to helpsatisfy the need to transform high-end research results andinnovations into attractive business propositions through supportingresearchers. LU Bio is an early-stage investor who provides bothcapital and industrial development expertise to enable a fast andefficient development of bioscience inventions. www.lubio.seAbout ProNoxis ABProNoxis develops, produces and markets novel treatments forautoimmune disorders where modification of NADPH oxidase (NOX2)activity is one key for diseases like rheumatoid arthritis, multiplesclerosis and inflammatory bowel disease (IBD). ProNoxis is aspin-out from Redoxis. www.pronoxis.comhttp://hugin.info/141955/R/1354538/328501.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 12.11.2009 - 09:36 Uhr
Sprache: Deutsch
News-ID 8284
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