Recipharm and LIDDS signs contract for production of Liproca® Depot and investment in LIDDS
15 December 2015: Recipharm and LIDDS have signed an exclusive collaboration agreement regarding scale-up of the production process and commercial manufacture of Liproca® Depot, LIDDS patented targeted treatment for prostate cancer. The agreement will be an important component for the upcoming Phase IIb study which is planned to start in 2016. In connection with the agreement, Recipharm invests SEK 5 million in a private placement, thus becoming the third largest shareholder of LIDDS.
"LIDDS' technology platform is highly interesting as it potentially can be used for other, already approved therapies which may lead to shorter development time for new products. We are looking forward to collaborating with LIDDS through contributing our technical expertise within production, and thus delivering a more gentle treatment for prostate cancer patients in the future", says CarlJohan Spak, EVP Development & Technology at Recipharm.
"We are very pleased that the agreement with Recipharm has been signed, as it is an important part of the preparations for the next clinical study. Recipharm is a well-reputed company with high quality, cost-effective processes for manufacturing. In addition, Recipharm has extensive experience collaborating with different types of organisations across the world. This agreement will strengthen the attraction for out-licensing of Liproca® Depot", says Monica Wallter CEO of LIDDS.
Contact information Carl-Johan Spak, EVP Development & Technology Recipharm, +46 8-6025 313, [email protected] Monica Wallter, CEO LIDDS, +46 (0)737 07 09 22,[email protected] For media enquiries, please contact Tristan Jervis or Alex Heeley at De Facto Communications on: E-mail:[email protected] or [email protected] Tel: +44 (0) 207 735 8166