Dutch pharma company PureIMS has secured an undisclosed amount in funding to develop an inhalation product and support partnerships.
During the latest funding round, the company’s existing investors, namely CardusoCapital, IMDS Medical Devices, and LinesBridge Pharma Group, were joined by new investor Boost-UP Foundation.
The company noted that it will use the proceeds to create the lead programme, Levodopa Cyclops, for marketing in the EEA and the US.
Early clinical studies have already shown that this drug has a quick onset of action in treating Parkinson’s disease’s OFF-episodes, proving to be much quicker than other inhaler and non-inhaler alternatives.
The company noted that with its current investments, it is exploring ways to further inspire pharmaceutical and biotechnology firms to engage in preclinical research projects to develop both small and large molecules for local and systemic indications.
PureIMS CEO Jaap Wieling commented: “I am very pleased with the current investments, which enable us to fulfil our desire to take a major step in the company’s development and to capitalise on the opportunities we see for Cyclops for a broad range of molecules and indications, with marketed compounds, as well as NCEs and NBEs.”