The News

Biolipox successfully completes million financing round – Scandinavian Life Science Venture new investor

10/01/2005

Biolipox, a Swedish research-intensive pharmaceutical company in respiratory and inflammatory diseases announced today that it has successfully completed a million private placement. The Series C round was led by Scandinavian Life Science Venture (SLSV), and included existing investors HealthCap, Apax Partners, Sofinnova Partners, Auriga Partners and Crédit Lyonnais Private Equity. Rigele Abilock, Senior Partner at SLSV has joined Biolipox’s Board of Directors.

“We are delighted to complete this financing with such an outstanding syndicate of investors,” says Torbjörn Bjerke, Biolipox’s President & Chief Executive Officer. “We are pleased to have attracted a new investor of high calibre, and we are grateful for the continuing support of our international investor base. We are now well-positioned to develop our clinical and pre-clinical programs rapidly to the next stage. One project is aimed at developing the first new class of drugs since the launch of the COX-2 inhibitors, with a novel mechanism of action for the treatment of pain and inflammation. We are also very fortunate to be able to tap into the expertise of Rigele Abilock in business strategy and the U.S. biotech industry” concludes Dr. Bjerke.

Leveraging on its knowledge in the inflammatory field, especially the arachidonic acid cascade – transformation of arachidonic acid to substances that affect a number of inflammatory processes in the body – Biolipox has built a portfolio of potential blockbusters within the field of respiratory and anti-inflammatory therapy.

“Biolipox’s novel programs in asthma and inflammatory disease show exciting and timely promise to address aspects of treatment in which current pharmaceuticals such as arthritis and pain products may be falling short” says Rigele Abilock, Senior Partner at SLSV. “Biolipox has a strong product portfolio and a broad experience base that covers major therapeutic areas such as asthma, rhinitis and pain. We have spent considerable time surveying the landscape of biotech product development companies and Biolipox is well equipped to emerge as a strong player,“ Rigele Abilock asserts.

Sales of respiratory drugs, of which asthma is the main indication, amounted to USD 28 billion in 2003. Arthritis and pain represented USD 12.4 billion, or three percent of global pharmaceutical sales in 2003, with a year-over-year growth of six percent. Biolipox’s project portfolio includes a clinical Phase II program in allergic rhinitis and pre-clinical programs with novel mechanisms for treating respiratory and inflammatory diseases.

For further information, please contact:

Dr. Torbjörn Bjerke, President and CEO, Biolipox AB (publ)
+46 (0) 708 66 19 90 mobile or + 46 (0)8 545 28 140 direct office

Peter Hein, Vice President and CFO
+46 (0) 8 545 28 153

Biolipox AB (publ) is a Swedish, research-intensive pharmaceutical company focusing on the development of new, effective drugs for the treatment of respiratory and other inflammatory diseases such as asthma, Chronic Obstructive Pulmonary Disease (COPD), rhinitis, pain and arthritis (inflammatory diseases of the joints). Biolipox’s scientific platform is represented by research into the metabolism of arachidonic acid – arachidonic acid is an endogenous substance that indirectly influences several inflammatory processes in the body.