The US-Scandinavian real estate entrepreneur Rutger Arnhult has, via his private company M2 Asset Management AB, agreed to invest in New York based Intrance Medical Systems Inc.
“Investing in the life science segment is not new to me. The product has been validated by regulatory agencies in EU and a strategic buyer of the EU asset which is now in commercial phase – the product works and is accepted by the market,” says Rutger Arnhult. He continues “beside the commercial potential in the US, I want to be a part of a company that can change people’s lives in a positive way.”
Intrance is a private biopharmaceutical company focused on the development and commercialization of its lead clinical product for the treatment of advanced Parkinson’s disease in the U.S., Canada, Mexico, South America, Japan, and Taiwan. The company is currently raising a series A round of USD 15 million to initiate clinical trials for anticipated FDA approval and subsequent commercial launch in the US in late 2024.
Previously, Erik Selin has committed to invest 8 out of the USD 15 million and Rutger Arnhult has now agreed to invest an additional USD 3 million and becomes a significant shareholder of the company.
“I am delighted to welcome Rutger Arnhult as shareholder in the company. The Series A round is now fully subscribed and will be closed over the next few days. However, we are in talks with additional investors and the board has agreed to a capped over-subscription,” says Chairman and Co-founder Ulf Rosén. “The timing of providing significant financial resources to the company plays well into the plan to initiate the clinical development program, obtain IND clearance and subsequent pivotal study initiation planned for early 2022.”
Intrance Medical Systems
Intrance Medical Systems (IMS) was established in 2018 as an independent spin-out from Swedish Lobsor Pharmaceuticals AB, founded by Ulf Rosén and Roger Bolsöy. Lobsor developed and patented the triple combination of levodopa/carbidopa and entacapone for infusion directly into the small intestine via a light wight wearable pump. In the later stages of the disease, oral medication becomes cumbersome and complex with a deterioration of day-to-day functionality and Quality of Life (QoL). By infusing the active substances directly into the small intestine, medication can be controlled with regained functionality and QoL. The product system is currently commercialized in Europe under the name Lecigon by STADA/Britannia who acquired Lobsor Pharmaceuticals in September 2020. IMS owns a portfolio of patents and patent applications covering USA, Canada, and Japan. Beside these countries, IMS also has the commercial rights in South/Central America.
Photo of the Lecigon pump