News

[2010-02-17] - Medeia Therapeutics awarded significant grant from Finnish Funding Agency for Technology and Innovation (Tekes)

Medeia Therapeutics Ltd has been awarded a 0,65 million euro grant from Young Innovative Company (YIC) program financed by Tekes. YIC funding, up to 1,25 million euros granted in two- or three step process, is awarded to a select group of Finnish companies fulfilling the criteria of innovativeness, growth potential and commitment of entrepreneurs. The review process includes a panel of external venture capitalists and is more stringent compared to other Tekes-funded programs. Medeia successfully concluded the first phase of the program in late 2009. Achievement of pre-determined goals linked to business development and internationalization is a prerequisite for the access to the second phase of the program.

“We are extremely satisfied with continued financial support from YIC program. The funding will be focused on the execution of Medeia’s growth strategy. It will significantly promote our business model and help us create more lucrative business opportunities for global pharmaceutical and biotech industry in the near term” says Dr Milla Koistinaho, CEO.


About Medeia Therapeutics Ltd

Medeia, founded in 2006, is a drug discovery company focused on the generation and early preclinical development of novel therapeutic approaches for degenerative disorders of the elderly. Medeia’s discovery platforms are centered on the expertise of Medeia’s scientific founders and include programs based on both small molecule and cell therapy approaches. Medeia has raised significant financing from the Finnish-German life science venture capital management company, Inveni Capital. Medeia was granted Young Innovative Company status by Tekes in late 2008.
 

For additional information:
Medeia Therapeutics Ltd.
Milla Koistinaho, CEO
Tel. +358 44 590 0603
milla.koistinaho@medeiatherapeutics.com

Finnish Funding Agency for Technology and Innovation (Tekes)
www.tekes.fi

 

[2009-01-27] - Medeia Therapeutics receives significant support from Finnish Funding Agency for Technology and Innovation (Tekes)

Medeia Therapeutics Ltd announced today that it has been accepted to Young Innovative Company (YIC) program financed by Tekes. YIC funding, up to over 1 million euros, is awarded to Finnish companies fulfilling the criteria of innovativeness, growth potential and commitment of entrepreneurs after a stringent review process including a panel of external venture capitalists. Medeia will focus on the development of its product portfolio and building new R&D partnerships with the global pharma and biotechs with the aid of the first phase YIC support equaling 250.000 euros.

“The acceptance of Medeia into the YIC program means successful completion of a significant financing milestone. We are very pleased to receive the support from Tekes. The funding promotes Medeia's international activities and speeds up our solid growth. We believe the YIC program helps us strengthen our product portfolio and means a significant boost to our early partnering efforts" says Dr. Milla Koistinaho, CEO. "Overall, this support from Tekes expedites the diversification of our business model" Dr. Koistinaho adds.

About Medeia Therapeutics Ltd

Medeia, founded in 2006, is a drug discovery company focused on the generation and early development of novel therapeutic approaches for neurodegenerative diseases such as stroke, Alzheimer’s disease, Parkinson’s disease and amyotrophic lateral sclerosis. Medeia’s discovery platforms are centered on the expertise of Medeia’s scientific founders and include programs based on both small molecule and cell therapy approaches. In late 2008 Medeia raised significant financing from the Finnish-German life science venture capital management company, Inveni Capital. Medeia was awarded Honorable Mention in the Business Incubator Company of the Year 2008 competition in November 2008.

For additional information:

Medeia Therapeutics Ltd.
Milla Koistinaho, CEO
Tel. +358 44 590 0603

Finnish Funding Agency for Technology and Innovation (Tekes)
www.tekes.fi

[2008-10-20] - Medeia Therapeutics announces the second financing round led by Inveni Capital

Medeia Therapeutics Ltd announced today that it has completed the second financing round led by Finnish-German life science venture fund, Inveni Capital. The existing investor in the company, Seed Fund Vera Ltd, also participated in the round.

Speaking about the funding arrangements, CEO Milla Koistinaho said, “Medeia is extremely pleased to have support for our programs from such experienced investors, who share our vision and commitment to the development of the company”. The funds raised in the financing round will be used for the expansion of Medeia’s small molecule and cell therapy product programs and for advancing the new product candidates within these programs through preclinical proof-of-concept. “The investments will significantly speed up our sustainable growth and strengthen Medeia’s position as we continue to develop the company towards a leading preclinical-stage discovery company focused in neurosciences” added CEO Koistinaho.

In connection with the financing arrangements, Professor Markku Jalkanen will assume the position of the Chairman of the Board of Directors. Prof Jalkanen is an acknowledged pioneer and entrepreneur within the Finnish life science industry. Other new Board members include Mr. Aki Prihti, who will bring a wealth of international expertise in the management of life science venture investments, and Mr. Matti Vaheri, who has more than 30 years of expertise in the diagnostic and pharmaceutical business being most recently served as the Director of CNS Business at Orion Pharma. Professor Jari Koistinaho, one of the scientific founders of Medeia, and Dr. Kalevi Reijonen, an experienced leader been involved with many international biopharmaceutical companies, will continue their assignments as members of the Board.

About Medeia Therapeutics Ltd

Medeia, founded in 2006, is a drug discovery company focused on generation and early development of novel therapeutic approaches for neurodegenerative diseases such as stroke, Alzheimer’s disease, Parkinson’s disease and amyotrophic lateral sclerosis. Medeia’s discovery platforms are centered on the expertise of Medeia’s scientific founders in the field of molecular medicine and include programs based on both small molecule and cell therapy approaches. Medeia has partnered its lead small molecule program with Orion Corporation.

About Inveni Capital

Inveni Capital, with offices in Finland and Germany, is a venture capital management company with some € 30 million under management investing in early to growth–stage life science (pharma and medtech) companies in Northern and Central Europe. Inveni Capital, with its experienced team, will be a highly engaged investor in its portfolio companies.

For additional information:
Medeia Therapeutics Ltd.
Milla Koistinaho, CEO
Tel. +358 44 590 0603

[2008-07-29] - Medeia Therapeutics reports new data on bone marrow derived cells in Alzheimer’s disease model

Medeia Therapeutics Ltd. (Medeia) announced today new published data regarding the role and behavior of bone marrow derived monocytes in preclinical models of Alzheimer’s disease. Medeia co-authored the study “Minocycline reduces engraftment and activation of bone marrow derived cells but sustains their phagocytic activity in a mouse model of Alzheimer’s disease” with scientists at A.I.Virtanen Institute for Molecular Sciences, University of Kuopio and Department of Oncology, Kuopio University Hospital, Kuopio, Finland. The article was published in GLIA on July 22, 2008.

The group led by Professor Jari Koistinaho revealed important insights into the behavior of bone marrow derived monocytic cells in conditions relevant to Alzheimer’s disease (AD). Monocytes derived from bone marrow are known to be recruited into the brain during the pathogenesis of AD and exploitation of their phagocytic capacity towards A peptide, a sticky protein that aggregates in AD brain, has recently been recognized as a promising therapeutic target. The scientists demonstrate in the published article that the beneficial phagocytic capability of the bone marrow derived monocytes can be separated from potentially proinflammatory properties of these cells in vivo. Medeia is engaged in the discovery and development of bone marrow derived cell therapeutics platform to treat patients with devastating brain diseases, such as AD.

For more information, please see:

DOI: 10.1002/glia.20726

For more information about Medeia Therapeutics, please contact

[2007-11-05] - Medeia Therapeutics participates in research on beta-amyloid peptide clearance

Medeia Therapeutics Ltd. reported today that the journal GLIA has recently accepted for publication an article entitled "Transplanted astrocytes internalize deposited beta-amyloid peptides in a transgenic mouse model of Alzheimer´s disease" by Medeia´s scientific team collaborating with researches at A.I.Virtanen Institute for Molecular Sciences, University of Kuopio, Finland. The article describes findings on human beta-amyloid peptide clearance by adult astrocytes and shed light on potential novel approach for treating Alzheimer´s disease (AD).

Astrocytes have recently been identified as beta-amyloid clearing cells using an ex vivo assay. This publication adds further evidence for adult astrocytes being capable of clearing beta-amyloid deposited also in human AD brain. Importantly, the article describes internalization of deposited beta-amyloid peptides by transplanted adult astrocytes in vivo and provides important information for potential use of glial cells as therapeutic vehicles in AD. Medeia continues to explore the unexploited capacity of resident glial cells in beta-amyloid clearance to design novel therapeutics for neurodegenerative diseases.

For more information, please see:

DOI: 10.1002/glia.20599

For more information about Medeia Therapeutics, please contact

[2007-06-19] - Medeia Therapeutics Ltd and Orion Corporation sign a research and option agreement

Medeia Therapeutics Ltd and Orion Corporation announced today that they have entered into a research and option agreement concerning Medeia Therapeutics’ small molecule program. Medeia and Orion aim to discover and develop novel disease-modifying drugs for neurodegenerative diseases.

Under the terms of the agreement Medeia will be responsible for the discovery and early preclinical development of small molecules and will receive upfront and discovery milestone payments as well as development and approval milestone payments. After the selection a drug candidate Orion will be responsible for the further non-clinical and pharmaceutical development of the compound for the clinical Phase I and onwards. Orion may exercise its option for exclusive rights to the program after the Phase II trial is completed.  After that Orion will be responsible for the management of the development and global commercialisation of the products.

“Medeia Therapeutics is very pleased to partner with Orion Corporation to discover and develop therapies for patients suffering from devastating neurodegenerative diseases”, says Dr. Milla Koistinaho, CEO and one of the founders of Medeia Therapeutics Ltd. “We appreciate Orion’s expertise and know how in bringing new medicines for patients in the field of central nervous system diseases and also their 90-year accumulated experience in building value for patients, shareholders and partners. Entering into this partnership with Orion is a very significant milestone for Medeia and a fulfilment of our most important strategic goal as a young start-up biotech company”, Dr. Koistinaho adds.

”The pioneering discovery of a novel drug target to the challenging area of neurodegenerative diseases is an excellent example of long lasting and systematic basic research. The discovery provides several opportunities to develop better medicines for neurological patients with clear unmet medical needs” says Jouni Sirviö, Head of non-clinical CNS research in Orion.  “Our agreement with Medeia is an example of our willingness for early stage collaboration with partners having skills that complement our own activities. We are continuously looking for capable partners for discovery collaboration. Having the roots of Orion in Finland, we are especially pleased to have this opportunity with a new mode of action, the discovery and development of the platform being based on highly scientific long term research and cross-disciplinary networking in Kuopio University campus area in Finland. We are looking forward to having a good and fruitful relationship”, says Antti Haapalinna, Director of Non-clinical R&D in Orion.

About Medeia Therapeutics Ltd

Medeia Therapeutics Ltd (www.medeiatherapeutics.com), founded in 2006, is a venture-backed drug discovery company focusing on novel therapeutics for neurodegenerative diseases such as stroke, Alzheimer’s disease, Parkinson’s disease and amyotrophic lateral sclerosis. Medeia’s discovery platforms are centred on the expertise of Medeia’s scientific founders in the field of molecular medicine and include programs based on both small molecule and cell therapy approaches. Aloitusrahasto Vera Oy and Tekes participate in financing of the company.

About Orion Corporation

Orion Corporation (OMX: ORNAV, ORNBV) is one of the leading pharmaceutical companies in the northern Europe. Orion develops, manufactures and markets pharmaceuticals, active pharmaceutical ingredients and diagnostic tests for global markets. Pharmaceuticals generate about 95% of the Group’s net sales, of which proprietary patented pharmaceutical innovations contribute a considerable part. The core therapy areas in Orion’s product and research strategy are central nervous system disorders, cardiology and critical care, urology and oncology. Stalevo® and Comtess® / Comtan®, treatments originated by Orion for Parkinson’s Disease, are the largest products by sales in Orion’s portfolio.

For further information please consult www.orion.fi.
 
For further information, please contact:

Milla Koistinaho, CEO
Medeia Therapeutics Ltd.
Tel. +358-44-5900603
Email:

[2007-03-19] - Medeia Therapeutics Ltd. Co-Authors Seminal Findings on Neurodegeneration in the latest issue of Nature Neuroscience

Medeia Therapeutics announces that the company has participated in the research project led by Drs. Michael Courtney and Eleanor Coffey from A.I. Virtanen Institute for Molecular Sciences, University of Kuopio and Turku Center for Biotechnology, Abo Academi University and University of Turku, Finland, and the team has published an article entitled "Rho mediates calcium-dependent activation of p38alpha and subsequent excitotoxic cell death" in the latest issue of Nature Neuroscience.

The research team has identified a novel signaling pathway that leads to the degeneration of neuronal cells. Excitotoxic neuronal cell death plays an important role in many neurodegenerative diseases including stroke, epilepsy and Alzheimer's disease and involves calcium influx and activation of several protein kinases including p38alpha. The authors show that Rho-protein is activated in neuronal cells by conditions in which intracellular calcium concentration is increased and in the mouse model of cerebral stroke. Rho is found to be required for the rapid excitotoxicity-induced activation of p38alpha and ensuing cell death.

The authors suggest that Rho is a novel and essential component of excitotoxic cell death pathway and an interesting therapeutic target that enables the development of novel neuroprotective approaches for many neurodegenerative diseases.

For further information about the publication, please visit: http:/www.nature.com/neuro/journal/vaop/ncurrent/abs/nn1869.html

For further information about Medeia Therapeutics Ltd., please contact:
Milla Koistinaho, PhD
Chief Executive Officer

[2007-01-30] - Medeia Therapeutics Ltd announced today that it has been invited to present at the Atlas Venture Japan Biopharma Partnering Conference to be organized in Tokyo, Japan on March 20th, 2007

Medeia Therapeutics Ltd announced today that it has been invited to present at the Atlas Venture Japan Biopharma Partnering Conference to be organized in Tokyo, Japan on March 20th, 2007. This event brings together selected European and North Americal biotechs with Business Development and Licensing executives representing top Japanese biopharma companies for unique networking opportunities.

For more information about the Partnering Conference, please see www.japanpartnering.com

[2006-10-25] - Medeia Therapeutics Ltd. appoints Dr. Reijonen to its Board of Directors

Medeia Therapeutics Ltd is pleased to announce the appointment of Dr. Kalevi Reijonen to the Company’s Board of Directors. Dr. Reijonen will assume the position of the Chairman of the Board.

Dr. Reijonen is currently the CEO of FIT Biotech Ltd, an innovative biotechnology company dedicated to develop and commercialize vaccines and gene transport technology. He formerly served as the CEO of Spectrum Medical Sciences Ltd. Dr. Reijonen has also served as the Senior VP in Business Development and Licensing, Acting President and VP of Sales and Marketing during his successful career at Orion Pharma and as President and VP International Sales and Marketing at Farmos Group Ltd. During his career he has been responsible for leading negotiations for licensing, strategic partnerships and M&A ventures as well as leading global product launches. Dr. Reijonen received his MD degree at the University of Helsinki, Finland.

Speaking on the appointment Medeia’s CEO Dr. Milla Koistinaho said "We are delighted about having Dr. Reijonen join Medeia’s Board. With a long and distinguished career in pharmaceutical and biotech industry, including senior management positions in many companies, Dr. Reijonen will bring over 30 years of valuable experience to the Board. Medeia will benefit especially from his significant skills in portfolio and project management as well as building international strategic partnerships. We very much look forward to his contribution as Medeia continues to build its future as the leader in the discovery and development of therapeutics to neurodegenerative diseases.”

About Medeia Therapeutics:

Medeia Therapeutics Ltd. (www.medeiatherapeutics.com) is an emerging drug discovery company focused on the development of new therapeutic approaches for devastating neurodegenerative diseases with high unmet clinical needs. Medeia’s focus therapeutic areas include acute neurodegenerative diseases such as stroke and spinal cord injury as well as chronic diseases like Alzheimer’s disease, Parkinson’s disease and ALS.

For additional information:
Medeia Therapeutics Ltd.
Milla Koistinaho
Tel. +358 44 590 0603

[2006-10-17] - Medeia Therapeutics Ltd. to attend BIO-Europe 2006 Partnering Conference

Medeia Therapeutics Ltd announces that it will attend the 12th Annual International Partnering Conference BIO-Europe 2006. The event takes place in Duesseldorf, Germany November 6-8, 2006. For more information about the conference, please see: http://www.ebdgroup.com/bioeurope/index.htm

For more information about potential partnerships with Medeia Therapeutics Ltd, please contact bd(at)medeiatherapeutics.com or schedule a one-on-one meeting with Medeia’s delegate through BIO-Europe’s partnering system.