Pergamum to develop Karolinska dermatology and wound healing companies

Pergamum AB has announced its formation; Pergamum will commercialize the Karolinska Development dermatology and wound healing interests, and create a broad-based therapeutic company in its focus areas.

The Pergamum product pipeline consists of five development projects, three of which are undergoing clinical trials. Indications covered within the portfolio include improved wound healing and reduced scar formation, healing hard-to-heal-wounds, the prevention of bacterial and fungal infections, atopic dermatitis and infected wounds and burns.

Pergamum CEO Magnus Precht will present Pergamum at the Rodman & Renshaw Annual Global Investment Conference in New York September 9-11, 2009 and will be available for one-on-one meetings with investors and potential partners during the conference.

"Pergamum represents a unique approach to developing new biopharmaceuticals in the dermatology and wound care markets," said Magnus Precht, CEO of Pergamum AB. "The fact that the group is working within related fields means we are able to build capabilities and specialist knowledge tailored to the needs of the group. We will provide individual projects with access to technical skills and key competencies without creating bureaucratic layers. This should translate into improved quality, cost savings and, ultimately, a shorter path to regulatory approval. It also means we have a broader, more attractive offering when meeting with pharma companies to discuss eventual sales or licensing opportunities," added Mr Precht.

Pergamum's current projects include: wound healing (Omnio Healer), atopic dermatitis / anti-inflamatory (BioCis Pharma), atopic dermatitis / anti-infective (DermaGen), anti-adhesion / wound healing (PharmaSurgics), and wound healing for chronic wounds (Lipopeptide). Karolinska Development owns 64% of Pergamum, with the other owners being Ostersjostiftelsen (The Foundation for Baltic and East European Studies) and Midroc New Technology.

Karolinska Development's CEO, Conny Bogentoft, said, "We are extremely pleased with this new initiative. By consolidating all of our interests in the dermatology and wound healing field in this way we have created an extremely resource-efficient business model. It should provide both more effective project development and greater efficiency when seeking exit opportunities."