PureIMS has secured a new investment round. New investor Boost-UP Foundation has joined current shareholders (CardusoCapital venture capital fund, IMDS Medical Devices and LinesBridge Pharma Group) in this round to finance the company’s ambitious growth strategy.
The funds will be mainly used to develop lead program Levodopa Cyclops for US and EEA marketing, of which early clinical studies already demonstrated very rapid onset of action in combating OFF-episodes in Parkinsons’ disease, much faster than other inhaler and non-inhaler alternatives.
With the current investments the company also pursues opportunities to further enthuse pharma/biotech companies for early-clinical endeavours looking for innovative pulmonary delivery options to develop small and large molecules for local and systemic indications. The Cyclops technology is also ideally suited for ‘rescue applications’ in areas with an acute unmet need.
Jaap Wieling, PureIMS’ CEO commented: “I am very pleased with the current investments which enable us to fulfill our desire to take a major step in the company’s development and to capitalise on the opportunities we see for Cyclops for a broad range of molecules and indications, with marketed compounds as well as NCE’s and NBE’s.”