BALLERUP, Denmark, June 14, 2012 /CNW/ - LEO Pharma is now actively
searching for new global or territorial partners to deliver promising
new compounds for its dermatology-focused pipeline. Corporate VP hopes
to sign two or more new deals before the end of 2012.
After successfully gaining FDA approval in April for Picato(R), a novel
treatment for solar keratoses, LEO Pharma has initiated a global search
for new partners within dermatology.
"Last year, we changed our R&D focus to concentrate solely on
dermatology. We are now a dermatology company, and we're searching for
partners and opportunities to strengthen that position," says Kristian
Lykke Fick, who is spearheading the partner search as Corporate Vice
President of Corporate Business Development. He says that LEO Pharma
last year spent EUR 141m on Research & Development, close to 15 percent
of the company's revenue.
This year, LEO Pharma entered its first multi-million-dollar
collaboration in January by signing an in-licensing deal with U.S.
biotech company Virobay Inc. to develop an oral treatment for
When searching the globe for new partners, LEO Pharma focuses equally on
existing and new therapeutic areas. The company currently has products
indicated for psoriasis, atopic dermatitis, eczema and solar keratoses.
"Basically, any opportunity within prescription dermatology with a sales
potential above EUR 75m has our interest. We seek early- and late-stage
compounds as well as new delivery systems. Besides our current
therapeutic focus, we'll be looking for drug candidates targeted at,
for example, acne, rosacea, vitiligo, skin cancer and orphan skin
diseases," says Kristian Lykke Fick and continues:
"We typically consider 500 opportunities annually, of which we find 100
interesting enough for further dialogue. In the end, we move about 10
of them to due diligence. I hope we'll find a handful of these most
promising candidates at this year's BIO convention. If everything works
out well, we can sign another two to three significant deals this
LEO Pharma has more than 5,000 employees in 61 countries with total
revenue of EUR 1,039m in 2011. This makes it the third-largest
pharmaceutical company in Denmark, preceded only by H. Lundbeck and
Novo Nordisk. The BIO International Convention will be held June 18-21
in Boston and is the largest global partnering event for the
biotechnology industry with more than 15,000 participants.
Link to fact sheet about LEO Pharma [http://www.leo-pharma.com/Files/Billeder/LEO_corporate_images/graphics/LEO
PharmaCorporate Media Fact Sheet_FINAL.pdf]
SOURCE LEO Pharma Inc.
For further information:
Kristian Lykke Fick, Corporate Vice President, Corporate Business Development, Mobile: +45-41-37-11-22, E-mail: firstname.lastname@example.org