Herantis Pharma - Gearing up for alternative delivery
Collaboration with Nanoform announced Two PoC studies for enhanced BBB penetration Raises hopes for new administration approach in PD Nanoform partnering to enhance BBB penetration Herantis and Nanoform have penned a letter of intent to collaborate to seek to enhance the nasal delivery to the brain of Herantis’ two PD candidates, CDNF and xCDNF, using Nanoform’s proprietary biological nanoparticle technology. This comes following Herantis’ recent pivot away from direct intracerebral delivery for CDNF and towards alternative administration methods, principally intra-nasal and subcutaneous. Nanoform, a fellow finish firm, leverages their proprietary particle engineering technology to reconstitute drugs into nanoparticles, which facilitates their uptake and allows for greater therapeutic effect at lower possible doses. Nanoform announced the launch of their new technology for biologics just a few weeks ago, with Herantis seemingly the first ventures in this new arena.
Subject to finalizing definitive agreements, Nanoform will carry out against standard commercial terms compensation, two Proof of Concept studies on CDNF and xCDNF. Financials Under the LOI, Nanoform will subscribe for shares in Herantis amounting to €1.6m. This forms part of a private placement also announced by Herantis yesterday, which raised €8m through the issuance of 2,162,163 placing shares at €3.70 per share (a 10% discount to last close), which represent approx.
28.5% of the issued shares in Herantis prior to the placing and approx. 22.2% following the placing. In addition to Nanoform, existing investors Swedbank Robur and AP4 along with other new investors participated.
The funds will be used to develop the new formulations for subcutaneous and intranasal administration routes alongside Nanoform, along with selection of lead candidate and start of pre-clinical testing with xCDNF. Implications We view the collaboration with a partner with an impressive client portfolio including sever....