Bukwang Pharmaceuticals acquires Contera Pharma

  • Friday, November 28, 2014 at 10:00AM
  • Contera Pharma announces acquisition by Korean Bukwang Pharmaceutical

  • JM-010 to enter global development for L-DOPA induced dyskinesia

  • Contera Pharma (Copenhagen, Denmark) is pleased to announce that Bukwang Pharmaceutical (Seoul, Korea) has acquired 100% of Contera Pharma from its current shareholders. The shareholders received an undisclosed upfront payment and are entitled to future contingent and royalty payments.

  • Contera Pharma was founded by John Bondo Hansen and Mikael Thomsen to focus on the development of new innovative treatments of movement disorders. The lead program JM-010 is in development for treatment of L-DOPA induced dyskinesia (LID). LID is a debilitating condition that affects Parkinson’s disease patients with no approved treatments. JM-010 has shown very promising effects in pre-clinical models of LID. CEO John Bondo Hansen and CSO Mikael Thomsen will continue in their roles at Contera Pharma in Denmark. John Bondo Hansen states: ‘Since Contera’s inception 4 years ago, we have worked with our investors, board, and collaborators to develop new treatments that can help patients suffering from movement disorders. The potential of our projects and the opportunity represented by JM-010 is now recognized by Bukwang Pharmaceutical, and we look forward to working with Bukwang Pharmaceutical to continue our effort in developing new treatments to patients in need’.

  • Hee-Won Yoo, Vice President of Bukwang Pharmaceutical stated “with this acquisition of Danish bio-venture Contera, Bukwang will strengthen its overseas research activities. Contera’s asset for LID treatment, JM-010, is planned to complete preclinical development in the first half of 2015, before entering phase I study for global development in the same year.”

  • Novo Seeds and Seed Capital are the largest investors in Contera Pharma. Bobby Soni, Investment Director at Novo Seeds, states on behalf of the investors: ‘it has been a pleasure to invest and work with Contera Pharma. We are excited that Bukwang Pharma will continue development of JM-010 to improve the lives of Parkinson’s disease patients. We believe the acquisition validates the potential of Contera Pharma’s products and their novel approach to CNS development’

  • About Bukwang

  • Bukwang Pharm. Co., Ltd. is a leading Korean pharmaceutical company listed on the Korean Stock Exchange [KRX:003000]. The company has been in business for over 50 years, and achieved US$130 million in sales in 2012. Sales are primarily derived from products licensed from

    Europe, the United States, and Japan. The company is currently investing significant resources in R&D to create a robust pipeline of preclinical and clinical agents for the treatment of antiviral diseases, gastrointestinal disorders, CNS disorders and metabolic disease.

  • About Novo Seeds

  • Novo Seeds is the early stage investment unit of Novo A/S.

    Novo A/S is a Danish private limited liability company wholly owned by the Novo Nordisk Foundation, and the holding company of the Novo Group and as such the majority shareholder in the publicly listed companies Novo Nordisk A/S and Novozymes A/S. Novo A/S provides seed, venture and growth capital to development stage companies within life science and biotechnology, as well as manages a broad portfolio of financial assets. For more information, visit www.novo.dk

  • About SEED Capital

  • SEED Capital is the largest venture fund in Denmark within the pre-seed and seed segment, and specializes in identifying and developing new and innovative technology companies. SEED Capital manages both private venture capital and public funds through innovation environment, Pre-Seed Innovation. SEED Capital manages approx. 1.5 billion DKK and has about 70 companies in its portfolio.

    Read more about SEED Capital atwww.seedcapital.dk

  • For media inquiries:
  • Bukwang Pharmaceutical, Hyun Jun Hwang, hyun.jun.hwang@bukwang.co.kr
    Contera: John Bondo Hansen, JBHA@conterapharma.dk
    Investors: Bobby Soni, bygs@novo.dk

  • Press release (PDF)

    Contera Pharma: new name and organisation

  • Saturday, December 14, 2013 at 4:21PM
  • Concit Pharma has changed its corporate name to Contera Pharma, effective from 19.11.2013.

  • As of 19.11.2013 Don deBethizy is appointed chairman of the board. Don is the former CEO of Targacept, Inc a public biotech company discovering and developing novel small molecules targeting serious CNS disorders. Don will help the company to explore financing opportunities among investors from his extensive network.

  • Finn Eggert Sørensen is appointed CBO and responsible for exploring future partnering and financing opportunities for JM-010 in the Pharma and Biotech community using his extensive network. Finn is the former CBO of NeuroSearch.

  • As of 19.11.2013 Contera Pharma has raised new capital from current investors and the current investors have committed themselves to participate in the Series A financing round.

  • Contera Pharma has developed a unique approach of using a combination therapy to tackle two clinically relevant synergistic pathways to obtain strong therapeutic effects. The Contera Pharma approach will generate new safe and efficacious therapeutic entities based on robust pre-clinical and clinical evidence. It will secure fast access to human proof of concept data, low risk of attrition in development and long exclusivity. JM-010 that is designed through this technology has the potential to create a breakthrough in the treatment of movement disorders caused by current treatment paradigms for Parkinson's disease and schizophrenia.

  • The new name reflects our new identity with a new vision, new achievements, new organisation and new financing.

    Concit Pharma in NY

  • Sunday, October 6, 2013 at 6:19PM
  • Concit Pharma paricipated in the Danish Life Sciences Investor Forum in New York on 30.09.2013 to 02.10.2013.

    Concit Pharma recieves approval to start Phase IIa study

  • Friday, July 12, 2013 at 10:15AM
  • On July 1st Concit Pharma received approval of protocol for the Phase IIa study in L-DOPA induced dyskinesia. The approval is an important milestone and strongly supports Concit Pharma's development plans.

    Concit Pharma presents JM-010 at Sydney meeting

  • Monday, June 10, 2013 at 9:55AM
  • Concit Pharma will present JM-010 at the Movement Disorder Society meeting in Sydney, Australia June 16-20. The preclinical data suppporting the efficacy and safety of JM-010 as a new drug for treatment of L-DOPA induced dyskinesia will be presented on a poster.

  • A copy of the poster can be obtained upon request (kbh@concitpharma.com).

    Concit Pharma and Copenhagen University starts joint project

  • Tuesday, October 2, 2012 at 2:23PM
  • On October 1st Concit Pharma and Neurobiological Research Unit, Copenhagen National Hospital (Rigshospitalet) has initiated a research project supported by The Danish National Advanced Technology Foundation. The project will during the next two years focus on identification and characterization of new drugs for treatment of L-DOPA induced dysinesia.

    Concit Pharma raises new capital

  • Tuesday, June 12, 2012 at 9:24AM
  • Concit Pharma raises new capital and wellcomes Dr. Magnus Persson and Dr. Carsten Schou as new members of the board of directors.

  • Concit Pharma has projects focusing L-DOPA induced dyskinesia and neuropathic pain and the new investment from Novo AS and Seed Capital will make it possible to further progress the projects towards testing in man. It is expected that the clinical studies will be initiated in early 2013.

  • Dr. Magnus Persson, MD has a long experience from pharma and biotech and has during the last 15 years been Partner in two Life Sciences Venture Capital firms, one with its base in Sweden and with global reach and one in The Bay Area in California. Magnus has a long experience in medicine, life sciences and biotech financing. He has led development teams of Phase II and III programs in the Pharmaceutical Industry. He has founded, and led private as well as public biotech and medtech companies as Chairman of the Board and Board Director in the Nordic Countries, Europe and USA. Magnus will be independent membe rof the board.

  • Dr Carsten Schou will represent Seed Capital and therefore replaces Frank Knudsen in the board.

    Concit Pharma raises new capital

  • Wednesday, May 18, 2011 at 2:29PM
  • Concit Pharma raises new capital in a seed round extension. Novo Seeds, the seed fund of Novo A/S, joins as new investor

  • Concit Pharma, which was founded in 2010, develops novel medicine by reformulation and repositioning of safe and efficacious drugs to facilitate development and reduce risks. Concit Pharma is initially focused on projects within movement disorders and neuropathic pain.

  • Concit Pharma extends its seed financing by investments from new investor Novo Seed as well as existing shareholder Seed Capital. In conjunction with the investment, Bobby Soni, Principal at Novo Seeds will join the board of directors.

  • "We are happy to announce this seed round extension, and delighted to have Novo Seeds join as an investor. By having Novo Seed as a co-investor we gain significant resources and experience, which will allow us to speed up develop of our novel therapeutics", says John Bondo Hansen, CEO of Concit Pharma.

  • Bobby Soni comments: "We are happy to join Seed Capital as co-investors in Concit Pharma. Their innovative approach promises to deliver drugs that rapidly can be developed into novel treatments. We are looking forward to follow the progress of the company's lead project toward clinical testing".

  • For more information about Concit Pharma:
    John Bondo Hansen, CEO: e-mail: jbha@concitpharma.com, tel: 45 41984857.