DENMARK - VC-backed 7TM Pharma receives milestone payment

The milestone was triggered by successful progress in the preclinical development of drug candidates for the treatment of diseases such as peripheral arterial diseases and coronary arterial diseases related to arteriosclerosis.

In January 2005 7TM Pharma entered into the research agreement with P&GP, in which the parties undertook a joint research program into therapeutic angiogenesis with the aim of identifying new pharmaceutical candidates. The basis for this collaboration is 7TM Pharma’s proprietary platform of so-called Y receptor peptides.

Thue W Schwartz, CSO of 7TM Pharma, says: 'The momentum in the collaboration with Procter & Gamble has been stunning. We are far ahead of the ambitious plans driven by a clear synergy between the expertises in the two companies and a highly devoted project team.'

The investors in 7TM Pharma include Index Ventures, Alta Partners, Novo A/S, Johnson & Johnson Development Corporation, The LODH Immunology Fund, Dansk Innovationsinvestering P/S and Baker/Tisch Investments

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