VIKEN, Sweden, March 9, 2020 (Newswire.com) - TIKOMED, a Swedish privately held biopharmaceutical company, today announced the appointment of Locust Walk (LW) as strategic advisor and business development representative for the licensing process of ILB™.
“We are very pleased to secure this new collaboration, as we have already worked closely with Locust Walk over the past 12 months, assessing our ILB™ portfolio and exploring our commercialization opportunities within different neurodegenerative disease areas such as ALS. With their proven track record and in-depth market insights in the field of neuroscience, we look forward to having them on board as our partner during this exciting process,” said Anders Kristensson, CEO of TIKOMED.
ILB™ is TIKOMED’s new drug candidate for neurodegenerative diseases in clinical development. ILB™ boosts self-repair and protection, enabling neurons to regain lost functions by targeting the underlying processes responsible for the deterioration of nerve cells characteristically associated with acute and chronic neurodegenerative diseases. TIKOMED is currently running two phase II clinical trials in amyotrophic lateral sclerosis (ALS).
Lubor Gaal, Senior Vice President of Locust Walk: “We are extremely excited to support the TIKOMED team with their upcoming licensing process for ILB™. With a unique mechanism of action and early clinical results having shown significant promise, ILB™ could potentially improve the treatment of ALS.”
Locust Walk is a global life science transaction firm helping biopharma companies elucidate their strategy and execute transactions. The company has closed over 50 business development, M&A and capital raise transactions on behalf of their clients. Their global, integrated team-based approach across geographies, therapeutic areas and industry segments delivers the right products, sources of capital or partners to their medtech and biopharma clients.