Intrance Medical Systems to raise $8 million from Swedish real estate investor Erik Selin Fastigheter AB.

Intrance Medical Systems Inc., a Stockholm, Sweden--based biopharmaceutical company focused on the development and commercialization of its lead clinical product for the treatment of advanced Parkinson’s disease, announced that it raised $8m in funding.

The money was raised from a Swedish real estate investor Erik Selin, made via his real estate company, Erik Selin Fastigheter AB.

Proceeds will be used to initiate the U.S. clinical development program for its fixed-dose combination treatment of carbidopa, entacapone and levodopa for enteral infusion in advanced Parkinson’s disease patients. The product is currently marketed as Lecigon in the Nordic countries and certain European markets.

Intrance Medical Systems Inc. is a subsidiary of Sweden-based Intrance Holdings AB, founded in 2018 by Ulf Rosén and Roger Bolsöy as an independent spin-out from Sweden-based Lobsor Pharmaceuticals AB. Lobsor developed and patented a triple-combination of carbidopa, entacapone and levodopa for infusion via a lightweight, wearable pump that delivers the drug directly into the small intestine for the treatment of advanced Parkinson’s disease. Intrance’s product system is currently commercialized in Europe under the name Lecigon by STADA/Britannia which acquired Lobsor Pharmaceuticals in September 2020. Intrance owns a portfolio of patents and patent applications covering the U.S., Canada and Japan. In addition to these countries, Intrance has the commercial rights in South/Central America as well.