Sunstone Life Science Ventures makes a €5 million investment into the Finnish women’s health company Forendo Pharma to finance clinical studies in endometriosis.
Sunstone has announced its first investment out of its Life Science Ventures Fund IV into Forendo Pharma, a Finnish clinical stage drug development company focusing on novel treatments in women’s health. The investment is designated to finance the continuation of Forendo Pharma’s positive Phase Ia study in post-menopausal women into Phase Ib in pre-menopausal women, and later Phase II for the treatment of endometriosis.
Sunstone will be joining a syndicate of reputable active international investors such as Novo Seeds, Novartis Venture Fund, Vesalius Biocapital III and M Ventures (Merck).
Women’s health – an area with immense need of investments
Claus Andersson, Sunstone General Partner, will join Forendo Pharma’s Board of Directors.
“Sunstone sees women’s health as an area with immense need of investments and with trending popularity. Endometriosis is a perfect example as approximately 8% of all pre-menopausal women are affected with moderate to severe pain, infertility, and impaired quality of life as a consequence. We are very pleased to make this first investment under our new Fund IV, which earlier this year had its first closing at €80 million, and with a target of €150 million at final closing,” said Claus Andersson.
A tissue specific treatment of endometriosis
In March 2019, Forendo Pharma successfully completed a Phase Ia study of its lead program FOR-6219, a novel oral formulation of a tissue specific treatment of endometriosis. FOR-6219 was found to be safe and well tolerated.
Endometriosis is a chronic condition affecting up to 10% of women in the reproductive age and causes recurring pain symptoms, infertility and impaired quality of life. Currently available treatments for endometriosis have limitations in efficacy or cause harmful side effects due to estrogen depletion.