Pantech Biosolutions AG, a Liechtenstein-based developer of transdermal delivery solutions for large-molecular weight drugs, has raised CHF 6.3 million ($5.67m) in Series A funding. Gamma Capital Partners of Austria led the round, and was joined by other undisclosed European investors.
Pantec Biosolutions AG, a private drug delivery company specialising in laser micro-poration technology for the transdermal delivery of large molecular weight drugs, has announced the successful initiation of its Series A equity investment round raising CHF 6.3 million (EURO 3.84 million, US$ 5.67 million).
Austrian venture capital firm, Gamma Capital Partners, will be leading the investment round. The Gamma Capital Partners investment will be complemented by investments from a group of prominent private investors from various industries around Switzerland, Austria, Germany and Liechtenstein . Gamma Capital Partners will invest in Pantec Biosolutions with finance drawn from the firm’s Luxemburg based fund, Gamma III SICAR.
This new investment will enable Pantec Biosolutions to further develop its device and drug patch technology with the aim of replacing the required hormone treatment regime of daily injections made over a period of several weeks during In Vitro Fertilisation (IVF), with a simpler regime of epidermal preparation and IVF hormone patches. The Company’s current business model is focussed on developing a variety of therapeutic treatments which encompass the IVF therapy regime.
Pantec Biosolutions has developed a laser micro-poration device LEDDT� (Laser Easy Drug Delivery Technology) for large molecular weight drug delivery such as IVF hormones, placing the Company in a strong position for later stage licensing or its own commercialisation. Pantec Biosolutions has also developed a preclinical pipeline of identified biopharmaceutical therapies for LEDDT� transdermal application to resolve unmet medical needs in selected therapeutic areas. Dr. Christof B�hler, CEO of Pantec Biosolutions, commented: “We are delighted to receive strong support from such an impressive syndicate of investors. This is undoubtedly further validation of our LEDDT� platform and targeted business strategy. We are impressed by Gamma Capital Partner’s investment track record and their understanding of the drug delivery field. This new investment from Gamma Capital Partners will be accompanied by additional investment from our current shareholders.”
Burkhard Feurstein , Managing Director of Gamma Capital Partners AG, said: “The experience and entrepreneurial drive of the Company’s founders and executive team, the fast and highly effective execution of the project since its inception and, last but not least, the scope of Pantec’s drug delivery platform and the market opportunity that this presents, convinced us that Pantec Biosolutions has all the elements in place to become an outstandingly successful company.”
About Pantec Biosolutions and LEDDT�
Pantec Biosolutions is a private drug delivery company specialising in laser micro-poration technology to deliver large molecular weight drugs into the epidermis for systemic or topical uptake, removing unwanted therapeutic side effects including drug degradation. Its proprietary LEDDT� (Laser Easy Drug Delivery Technology) platform enables efficient, needle free and painless application of biopharmaceutical drugs, such as IVF hormones, in varying and individualised dosages through partnered patch technology.
The Company’s LEDDT� platform is available both for the development of the Company’s own pipeline and for penetration into new markets through strategic partnerships. The technology is currently in clinical trials for the delivery of IVF hormone therapy, a market with an estimated value of US$1.5 � 2 billi