BioCis Pharma and Lx Therapies merge

TURKU, Finland—Two Finnish companies, BioCis Pharma Oy andOy Lx Therapies Ltd., have merged to create Laurantis Pharma Oy, aclinical-stage specialty pharmaceutical development company.

Founded in 2003, BioCis is a clinical-stage drug-developmentcompany focused on unmet needs such as inflammation, allergy and cancer. Itsdevelopment programs address dermatology, ophthalmology and urology. BioCis'patented ProtoDynamic Therapy technology regulates intracellular pH, includingthe proton or hydrogen ion concentration inside cells. The company has a PhaseII program in atopic dermatitis, a Phase I program in bladder cancer and apreclinical program in dry eye syndrome.

Oy Lx Therapies, founded in 2008, is a drug discoverycompany focused on developing gene-mediated therapies for the prevention andtreatment of diseases of lymphatic vasculature. The initial focus of thecompany is on breast cancer-related lymphedema, a relatively commoncomplication of breast cancer treatment for which there is currently no cure oreffective treatment.

In connection with the creation of the new company, Dr. RikuRautsola, was appointed president and CEO of Laurantis Pharma. In addition,Inveni Capital and Helsinki University Funds made an investment in LaurantisPharma.

"We are very excited about having the capacity to a build acompetitive specialty pharmaceutical company with a strong technology base.Laurantis Pharma is well-positioned to reach several significant clinicalmilestones for its lead products in the next two to three years," Rautsola saidin a statement. "This provides the unique opportunity to build Laurantis Pharmafrom an early clinical development company to a successful specialtypharmaceutical company in the coming years."

Lasse Leino, previously CEO of BioCis Pharma, will becomechief operating officer of Laurantis Pharma.