Forendo secures €3M to fund its R&D.

Finland 16 March 2018
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Forendo Pharma, a Turku, Finland-based drug development company, announced securing a €3M ($3.7) R&D loan for the development of a new drug for endometriosis treatment.

The money comes from Business Finland and will enable Forendo to strengthen its women’s health portfolio, by progressing its early stage DUAL HSD Inhibitor program, targeting broader gynaecological conditions, including endometriosis, into preclinical development. The DUAL HSD Inhibitor compounds, currently in discovery phase, combine two mechanisms of actions whereby estrogen inhibition and direct anti-inflammatory effect can be combined locally in target tissues, without affecting systemic hormones.

Forendo Pharma, founded in 2013 by by leading academic endocrinology experts and Finnish drug development pioneers led by CEO Risto Lammintausta, is a privately held drug development company, with core competences in modulating tissue specific hormone mechanisms.

Forendo has raised almost $17M from local and international investors including Novo Seeds, Karolinska Development, Novartis Venture Fund, MS Ventures and Finnvera (through Innovestor)