Recipharm Takes Equity Stake in Swedish Biopharm Company Isofol MedicalBy
Recipharm, a contract development and manufacturing company based in Jordbro, Sweden, and Isofol Medical AB, a Gothenburg, Sweden-based clinical-stage biopharmaceutical company, have formed a collaboration for Isofol's lead drug candidate Modufolin, a folate-based compound developed to increase the efficacy and reduce the side effects of antimetabolites used in cancer treatment. Also the venture capital arm of Recipharm has invested SEK 8 million ($1.1 million) to take an equity stake in Isofol.
Isofol is currently evaluating Modufolin in two clinical Phase I/II studies. Isofol formed an exclusive supply and license agreement for Modufolin with Merck KGaA in 2013. Isofol now has a license to all Merck patents for Modufolin.
Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material, and pharmaceutical product development. Recipharm currently manufactures more than 200 different products to both Big Pharma and smaller research- and development companies. The company operates development and manufacturing facilities in Sweden, France, the UK, Germany, and Spain.