University of Coimbra and Bluepharma launch spin-off2010-12-08 in Netfarma.pt
The University of Coimbra (UC) and Bluepharma will license two scientific patents to a new spin-off company assigned the mission of developing an anti-cancer medicine to be distributed at a global scale.
The technology licensing agreement, resulting from a scientific research initiated in 2008 at the Faculty of Sciences and Technology, between the UC and Luzitin, a spin-off of the University of Coimbra, will become official today in Coimbra, marking the beginning of a new stage. “Our goal is not to sell the product but to continue to develop the medicine up to the clinical trial stage, so that it becomes possible to license it to pharmaceutical companies and distributed internationally”, as Luzitin’s President and UC Researcher Sérgio Simões states.
The funding agreement will also be signed, ensured through the participation of venture capitalist investing company InovCapital. Apart from the researchers, Luzitin will have Bluepharma and InovCapital as shareholders.
The patents represent the development of a new set of compounds with highly successful production and synthesis method of the molecules. “what is in question with is not a divorce from the university, but a window of opportunity that will allow the researcher to leave the University labs and prepare this product to reach the market and benefits cancer patients” says Sérgio Simões. The company expects the first generation of the medicine to be tested in cancer patients within three years.