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

01.02.2010

Helsinki – The Academy of Finland is restructuring its funding instruments. The purpose of the reform, which will be finalised in fall 2010, is to give greater clarity and flexibility to Finnish researchers, and to improve the...

FinlandFinland

19.09.2009

Helsinki – According to a new survey, Finnish high-tech growth companies raised almost a51m in the first half of 2009, 17% down on the first half of 2008. Second quarter funding decreased by more than 50% from the same period in...

FinlandFinland

13.07.2009

Helsinki – The Finnish government has announced plans to introduce tax incentives for companies with high research and development activities. At the end of June, a working group from the Ministry of Employment and Economy (MEE)...

FinlandFinland

05.06.2009

Espoo – Finnish pharmaceutical and dia­gnostics company OrionA/S has agreed to pay Abbott US$18m to re-acquire the rights to the intravenous formulation of its heart failure treatment levosimendan, which is marketed as...

FinlandFinland

29.04.2009

Helsinki – The Finnish Funding Agency for Technology and Innovation (Tekes), and the forest-based industry organised in the Finnish Forest Cluster have announced the five-year-research programme “Future Refinery” (FuBio), a...

FinlandFinland

21.02.2009

Helsinki – The Finnish Government has set up a new innovation policy. As its starting point, the Science and Technology Policy Council adopted the report “Review2008” in December, which outlines Finland’s new national strategy...

FinlandFinland

07.10.2008

A Helsinki – The causes of human anxiety disorders are largely unexplored, so there are currently no targeted drugs available for treatment. That’s why Finnish researchers from the Academy of Finland Research Programme on...

FinlandFinland

14.08.2008

Helsinki – A proposal for national innovation strategy has laid down new outlines for reforming Finland’s innovation policy, and has presented an action programme for their implementation. The proposal was submitted on June 12th...

FinlandFinland

20.05.2008

Helsinki – The Technology Academy Finland, an independent foundation established by Finnish industry, has announced the 4 finalists for the 2008 Millenium Technology Prize, which is awarded for technological innovation that...

FinlandFinland

19.03.2008

Helsinki – A study conducted by the research arm of the global assurance firm Allianz SE for the Lisbon Council, a Brussels-based think tank, has concluded that Finland already fulfills all of the criteria for the so-called...

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