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Bio-tech company needs Seed Funding.
Posted by:
Heinz Tschudi
on 5/7/2008 2:31:10 AM
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Funding Needed
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Above $1mil
Category:
Biotechnology
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Description:
Bioplatin AG is a Swiss based company which has the exclusive license rights outside of China to sell the licenses of a newly developed platinum based anti cancer drug which proved to be as effective as today’s chemotherapeutic drugs but does not have the toxicity and ill side effects of those. This drug, Dicycloplatin, DCP, has been developed at the University of Beijing and went successfully through Chinese clinical phase I trials. Clinical phase II is now on the way in China. Patent protection is already given in all major markets, especially in the US, the European Union and Japan.
DCP showed extraordinary good results against Bronchial Carcinoma and liver cancer. For both diseases there are only unsatisfactory or no treatments and the case numbers are high enough to justify the drug development financially.
The shareholders and the management of Bioplatin look for an investor to finance the clinical phase I and phase II trials for EMEA as well as for the US market which are necessary to market DCP respectively its license. The total investment looked for is US $ 13 millions. (6.5 millions for Phase I and 6.5 millions for Phase II) The management and board already invested US $ 4 millions of their own money into the development up to today.
DCP will compete with existing and new broadband chemotherapeutic drugs on a market which is expected at least to double in volume during the next five years. Although there are new drugs in the development process which do not fight the cancer cells but try to suppress their development it is also expected that there will be the need for chemotherapy for the next 20 years at least.
The estimated revenue licensing out DCP will be up to US $140 millions upfront payments linked to milestones and additionally about US $ 440 millions out of royalties linked to the expected DCP revenue.
After the clinical tests of Phase I and II in either Europe or in the USA, the DCP license can be sold to a major pharmaceutical company. Some of them already expressed their interest to license in DCP after successfull tests.
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