Contera Pharma raised $2.5 million in capital funding from Medici Investment.

Denmark Investments 10 July 2019
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Contera Pharma, a Copenhagen, Denmark-based biotech company, announced that it has raised 3 billion won ($2.5 million) investment from Medici Investment, a venture capital firm in Seoul.

The company plans to use the fund to speed up a phase-3 trial on JM-010, a treatment candidate for levodopa-induced dyskinesia (LID) in Parkinson’s disease, in Europe.

Contera Pharma, founded in 2010 and led by CEO John Bondo Hansen, is a biotech firm which identifies and develops innovative treatments for patients suffering from movement disorders.

The company has a lead project named JM-010, a new drug candidate to treat dyskinesia caused by levodopa, commonly taken by patients with Parkinson’s disease. Although levodopa has excellent efficacy, long-term medication can cause movement disorders such as chorea or muscle tension disorder. JM-010 is approved for Phase IIa clinical trials for treatment of dyskinesia associated with Parkinson's disease, and is to open trials in France, Germany, and Spain and complete them within two years.

In 2014, Contera Pharma was acquired by Korean drugmaker Bukwang Pharm, and became its subsidiary.