FinlandFinland

BioTie TherapiesRaises Capital

17.06.2003

Turku - In order to secure financing until the end of 2004, BioTie Therapies Corp. aims to raise about Euro10.5 million of new capital through a new issue pursuant to the shareholders pre-emptive subscription right by the end of June. The issue would secure cover of the self-financed sharing of drug development projects, for which the National Technology Agency (Tekes) granted additional funding of Euro5.9 million as subsidies and loans in April. The funding will be paid - excluding Euro1.4 million of advance loan payments - after Tekes approved the budgets for the proposed projects' costs.
Upon securing funding for its operations, a licensing agreement will come into force, through which the Japanese Seikagaku Corp. will have the exclusive rights to BioTie's VAP-1 antibody against inflam-matory diseases as well as the rights of commercial exploitation of the patents in Japan, Taiwan, Singapore, New Zealand and Australia.
BioTie Therapies has further completed two phase-III studies of Nalmefene, an opioid receptor antagonist, intended for the treatment of alcoholism without psycho-social therapy. It reduced the number of heavy drinking days almost by half. Results from a phase-II study of patients suffering from pathological gambling suggest that Nalmefene also reduces gambling related urges. BioTie is seeking a licensing partner for both programmes.

FinlandFinland

11.02.2011

Helsinki – Using laser light to destroy tumour cells lodged in lymphatic vessels can halt the spread of cancer, Finnish researchers headed by Tuomas Tammela have demonstrated. Their approach to destroy the tumour cells, which use...

FinlandFinland

03.11.2010

Turku/Freiburg – EU researchers led by scientists at the University of Turku have begun designing a bacterium able to produce liquefied petroleum gas (LPG) from sunlight. “We have all the parts to put the ability for production...

FinlandFinland

19.09.2010

Rajamäki/Darmstadt – A cooperation project between AB Enzymes Oy and Royal Oy has resulted in the discovery of an enzyme that enables washing temperature to be dropped to as low as 10° C. The project is being funded by the SymBio...

FinlandFinland

08.07.2010

Turku – Finland’s Faron Pharmaceuticals Ltd. has announced a cooperation with German biotech company Priaxon AG to create new scaffold structures to modify the AOC3-protein function and its ligand interaction with orally...

FinlandFinland

09.06.2010

Tampere – Short people are at greater risk of developing heart disease than tall people, according to a meta-analysis of 52 populations-based studies including 3 million people by Finnish researchers (Eur. Heart J.,...

FinlandFinland

12.05.2010

Reykjavik – Researchers from the Icelandic bio­tech company deCODE – together with colleagues from 23 institutions in a dozen countries – have determined that genetic factors influence both nico­tine dependence and the incidence...

FinlandFinland

11.05.2010

Turku – Finnish Biotie Therapies Corp. confirmed that its oral phospho­diesterase 4 inhibitor ELB353 has proven safe and pharmacologically active in a Phase I study. Pharmacokinetic data point to the suitability of ELB353 for a...

FinlandFinland

07.03.2010

Helsinki/Hinxton – Finland has pledged EUR1.85m to help create world-class bio­informatics, biobanking and translational research infrastructures, the European Bioinformatics Institute (EBI) at the European Molecular Laboratory...

FinlandFinland

04.02.2010

Helsinki –Finland is investing EUR1.9m in creating world class bioinformatics, biobanking and translational research infrastructures. The investment comes as part of the linkage of three large EU projects ELIXIR, BBMRI, and...

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