LEO Pharma, Danish pharmaceutical company, announces an investment in the biotechnology company Novopyxis to support the development of an early-stage drug delivery device designed to increase the penetration of topical treatments in the skin.
The hand-held aerosol device will be clinically tested on people with alopecia, where there is a high need for alternative treatment options to painful steroid injections. Alopecia is an autoimmune disease leading to hair loss from all or some parts of the body, usually the scalp.
“We are pleased to support the development of this exciting new technology by investing in Novopyxis, a truly innovative company at the forefront of drug delivery technology. The device has the potential to improve treatment for people with alopecia, many of whom endure painful injections with limited efficacy,” says Kim Kjoeller, EVP Global Research and Development, LEO Pharma.
Under the agreement, LEO Pharma will make an investment that enables validation of the technology in a clinical study in alopecia patients. LEO Pharma has exclusive rights to license the technology in dermatological indications through an option agreement.
“We are delighted to partner with LEO Pharma given their extensive expertise in dermatology and dedication to patient care. Our technology is designed to increase penetration of treatment deep into the skin and we look forward to exploring how the device can be used in the treatment of alopecia,” says Dr. Rathi Srinivas, Novopyxis Co-Founder.
The agreement demonstrates LEO Pharma’s ongoing commitment to driving innovation through partnering, acquisitions and investments. LEO Pharma has an open and agile approach to business development, supported by internal R&D and a network of dedicated innovation units. LEO Pharma actively seeks partnering and investment opportunities with the potential to improve dermatology care, including in rare skin diseases. This is the first LEO Pharma R&D agreement to be sourced from the LEO Science & Tech Hub in Boston.