Photocure
| Type | Allmennaksjeselskap |
|---|---|
| Traded as | OSE: PHO |
| Industry | Pharmaceutical |
| Founded | 1993 |
| Headquarters | Oslo, Norway |
| Key people | Kjetil Hestdal (CEO), Åse Aulie Michelet (Chair) |
| Products |
Hexvix Cysview |
| Revenue | NOK 177 million [1] |
| Employees | 62 |
| Website | www.photocure.com |
Photocure ASA is a Norwegian pharmaceutical company that develops and sells pharmaceuticals and medical devices based on proprietary photodynamic technology, targeting key dermatology and oncology markets. Photocure's strategy is to build a speciality pharma company by developing and commercialising new and innovative products based on its patented photodynamic technology. Photocure’s strategy in dermatology is to continue the development of the dermatology portfolio, with Visonac and other new dermatology products, and build a commercial platform in the US. Photocure's strategy in cancer is to continue the commercialisation of Hexvix for bladder cancer diagnostics, and continue the development of the cancer portfolio and out-license prior to phase III studies. This strategy is based on a strong platform of intellectual property in photodynamic therapy.
History
Photocure was founded in 1993 and Photocure's aim was to commercialise photodynamic technologies developed by the Norwegian Radium Hospital, the largest comprehensive cancer centre in Northern Europe.
In 1997 Photocure recruited the first full-time employee and started of formal clinical studies for Metvix.
In 2000 the company filed their first marketing authorisation for Metvix and the company's share were listed on the Oslo Stock Exchange. In 2000 Photocure started clinical studies on Hexvix. Photocure's obtained their first marketing authorisation for Metvix the year after, and Metvix and Aktilite were marketed for the first time. A licensing agreement for Metvix was signed with Galderma and all rights to Metvix/Aktilite were sold to Galderma in 2009.
In 2005 Hexvix got approved in all EU/EEA countries and Hexvix was launched in Europe in 2006. Photocure signed a licensing agreement with GE Healthcare for Hexvix.
Hexvix was FDA approved in the US in May 2010 under the tradename Cysview.
Lumacan was licensed to Salix Pharmaceuticals Inc. in 2010.[2]
In 27. September 2011 Photocure launched a new commercial strategy for Hexvix/Cysview. Photocure will commercialize Cysview directly in the US market, and continue commercialization of Hexvix in Nordic. Photocure entered into a strategic collaboration with Ipsen, and Ipsen territory will we global without USA and Nordics.
Corporate structure
Photocure has over 60 employees and operates in Norway, Sweden, Denmark, Finland and the US. In 2010 Photocure established an US subsidiary, Photocure Inc, and appointed Terry Conrad as President to build its speciality dermatology business in the US.[3]
Pharmaceuticals
Photocure has two product in the market and has sold all rights to Metvix/Aktilite.
- Cysview (hexaminolevulinate) for diagnosis of bladder cancer. Cysview is marketed in Europe as Hexvix.
Research and development
Photocure was founded by the Norwegian Radium Hospital Research Foundation (RF) to commercialise and develop technologies originally discovered by scientists at the Norwegian Radium Hospital.
Photocure uses a global network of academic institutions and third party contract research organisations to give the company access to world-class research at an affordable cost. Collaborations with academic institutions will always remain a core part of Photocure's strategy for developing new products and platform technologies.
Pipeline:
- Cevira
- Visonac
- Lumacan