Recipharm and Isofol Medical in Exclusive Drug Development
Two Swedish drugmakers, Recipharm and Isofol Medical, have agreed to collaborate to strengthen the development program of Isofol's lead drug candidate Modufolin, an endogenous folate-based biomodulator designed to increase the efficacy and decrease the side effects of chemotherapeutic agents used in the treatment of solid tumors.
As part of the agreement, Recipharm Venture Fund, which invests in strategic pharmaceutical and biotechnology companies needing development and manufacturing support, has invested 8 million Swedish crowns in Isofol Medical.
The Gothenburg company, which develops novel products for unmet oncology needs, is currently evaluating Modufolin in two clinical phase I/II studies.
In view of the "promising clinical data obtained to date, we want to secure the long-term manufacture and supply of Modufolin for its future commercialization", said Isofol managing director Anders Rabbe.
The capital injection and the collaboration with Recipharm not only strengthen the ongoing Phase II clinical development program but could also secure the commercialization of Modufolin, he added.
Carl-Johan Spak, EVP Development & Technolog at Recipharm, said the "new, innovative drug" has strong sales potential.