BioGaia invests in development of a drug against NEC The

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Nov 12, 2013 at 2:15 AM

BioGaia invests in development of a drug against NEC

The board of BioGaia has decided to invest in the first phase of a long-term project aimed at developing a drug with rigorous hygiene, analysis and documentation requirements, to treat the highly fatal disease Necrotising Enterocolitis (NEC), which affects premature infants. BioGaia will invest SEK 42 million in the project over a two-year period. The project will be driven by BioGaia’s subsidiary Infant Bacterial Therapeutics (IBT), of which 9% is owned by the company’s President, Staffan Strömberg, and its Research Director, Eamonn Connolly. The remaining 91% is owned by BioGaia. IBT will develop a new formulation and a manufacturing process that are wholly adapted to the stringent quality requirements placed by the FDA (the U.S. Food and Drug Administration) for a biological drug and the product’s area of use in neonatal intensive care units. The company’s assessment is that around SEK 26 million of the total of SEK 42 million will be capitalised in IBT, which will result in costs of approximately SEK 8 million per year in 2014 and 2015. Should the drug development not be completed it is BioGaia’s intention to market the formulation under a different product category. In August this year the company was granted “Orphan Drug Designation” for the use of Lactobacillus reuteri in a drug to treat NEC. In addition to tax credits, this qualifies the sponsor of the drug for various incentives from the US government, seven-year exclusivity and certain support from FDA in the application process leading to an approved drug. IBT has had a first meeting with the FDA regarding the possible development of a drug. Parallel to this, discussions are underway with other parties on financing of the drug development project. A decision on the continued development of a drug will be made if and when reasonable financing is obtained. ”We consider the NEC project very promising since we have already been granted ”Orphan Drug Designation” and, with a limited impact on earnings, can create additional value in a project that can lead to a valuable drug with the potential to save lives and become a very profitable product. If we don’t reach all the way we will still have succeeded in developing a product that is ideally adapted for use in neonatal intensive care units, which opens a new market for our products,” says Peter Rothschild, President BioGaia. Latest press releases from BioGaia 2013-10-29 BioGaia expands network in the oral health field 2013-10-23 BioGaia AB Interim report 1 January-30 September 2013 2013-10-10 Lactobacillus reuteri Protectis only probiotic effective in treating colic BioGaia has published this information in accordance with the Swedish Securities Market Act. The information was issued for publication on 12 November 2013, 08:00 am CET. For additional information please contact Peter Rothschild, Chief Executive Officer, BioGaia: 46 8 555 293 00 BioGaia is a healthcare company that develops, markets and sells probiotic products with documented health benefits. The products are primarily based on the lactic acid bacterium Lactobacillus reuteri, which has probiotic, health -enhancing effects. The class B share of the Parent Company BioGaia AB is quoted on the Mid Cap list of the NASDAQ OMX Nordic Exchange Stockholm. www.biogaia.com

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Voter Events by Valley Community Healthcare Aim to Empower

Here's a game-changer for the community. Valley Community Healthcare (VCH) is stepping up, proving that healthcare doesn't just stick to check-ups and prescriptions. It's about the whole shebang—community empowerment included. This October, VCH is hosting two incredible voter events, collaborating with the Los Angeles County Registrar-Recorder's Mobile Voting Program....

LG OLED evo W6: UAE Roadshow Starts with a Bang

They've done it again, folks. LG Electronics is out there kicking up a storm with their all-new OLED evo W6 True Wireless Wallpaper TV, and they're bringing the action straight to the UAE's doorsteps. Imagine taking a stroll and stumbling upon this technological marvel at some fancy spot like The Lotus Lounge at Anantara The Palm Dubai Resort. This ain't just a TV, it's a...

Innventure Faces Major Lawsuit Over Misleading Investors

Missteps at Innventure: A Costly Lesson in Investor Trust The stock market is no stranger to drama, but Innventure's saga feels like a page ripped right out of a thriller novel. You’ve got accusations, alleged fabrications, and a swift drop in stock prices that’s left some investors shaking their heads. The company, nestled under the ticker NASDAQ:INV, finds itself...

Hyliion Class Action Deadline Nears for Investors

Potential Shockwaves for Hyliion Investors Investors are having a showdown with Hyliion (NYSE:HYLN) these days. With the looming October 27, 2026, deadline to jump into a securities class action, it seems Hyliion's latest escapade smells worse than a fish market on a hot day. We’ve got allegations here stronger than your uncle’s morning coffee. Understanding the Legal...

Weifang's Cultural Resurgence: A Global Epigraphy Fest

A Historical Meltdown into Global Recognition Welcome to the ride where ancient stones talk and cultural borders vanish. We're diving into the beating heart of Weifang, a place you're probably hearing about now because the town's hosting a packed international media tour. And, for a change, this isn't just another tourist trap; it's a cultural adrenaline shot to the arm,...

AEVEX Facing Class Action Deadline Amid Stock Turmoil

Investors are no strangers to the rough and tumble of stock markets, but things get downright messy when trust is shattered. That's the sorry saga unfolding with AEVEX, where shareholders are feeling the heat after a sharp nosedive in stock value. The clock is ticking to join the class action, and any AEVEX investor worth their salt should pay attention. Unraveling...

Masimo's smartSET™ Revolutionizes Patient Monitoring

Breaking Ground in Patient Monitoring Let's dive into the gritty details behind Masimo's latest FDA-nod: the smartSET™ system. This gizmo ain't your ordinary pulse oximeter; it's a next-gen hand-holder for the medical world, poised to ride the AI wave straight into the clinic. They've cracked open a new way for clinicians to peek behind the curtain of patient vitals,...

Top 5 Most Recently Viewed Articles

Legal Action Initiated for Investors of Telix Pharmaceuticals Ltd.

Class Action Lawsuit for Telix Pharmaceuticals Ltd. Investors Levi & Korsinsky, LLP has initiated a notification for investors in Telix Pharmaceuticals Ltd. The class action lawsuit aims to provide compensation for investors who have suffered losses. This action pertains to allegations of securities fraud impacting the company's reputation and financial integrity....

Parcel Perform Elevates E-commerce Delivery with AI Decision Intelligence

Revolutionizing E-commerce Delivery with AI In today’s landscape, AI is significantly altering the way consumers engage with e-commerce. Parcel Perform is at the forefront of this shift, urging businesses to 'Think Bigger on AI.' With Artificial Intelligence redefining the customer journey, a superior delivery experience has become paramount for success in online...

Exploring New Innovations and Trends in China's Development

Emerging Terms and Innovation from China's Latest Sessions In recent discussions, many revolutionary buzzwords have captured attention, signaling China’s aspirations for progress. New phrases like "funds and resources used to serve the people," "embodied AI," and "gazelle companies" reflect the ongoing transformation in sectors spanning government finance, technology,...

Digital Realty Welcomes Paula Cogan as New EMEA Director

Digital Realty Appoints Paula Cogan as Managing Director Digital Realty (NYSE: DLR), a leading global provider specializing in cloud- and carrier-neutral data center solutions, has announced the appointment of Paula Cogan as Managing Director and Head of the EMEA region. This strategic move is set to amplify Digital Realty’s growth in this essential market segment....

Investors Urged to Act Before Deadline in DXC Class Action

DXC Technology got hit with a class action lawsuit back in 2024 that sent ripples through the investor community. The Law Offices of Frank R. Cruz put out the call, reminding shareholders about an impending deadline to file a lead plaintiff motion. You buying DXC during the specified dates? You might wanna pay attention—this ain't just another legal shuffle. Financial...