Finland-based clinical stage drug discovery company Faron Pharmaceuticals (LON:FARN) says there is “tremendous expansion potential” following the latest licensing deal with a Korean pharmaceuticals firm.
The group’s treatment for Acute Respiratory Distress Syndrome, Traumakine is on track to be the very first pharmacological treatment for this serious condition, explains chief executive Markku Jalkanen.
“The disease is very deadly, death usually occurs in 30-45% of patients,” says Jalkanen. The treatment is already in phase III trials in Europe and licenses have been picked up by three companies in Asia, including the deal with Korean firm Pharmbio.
Speaking of the potential licenses in its three major areas, including immunotherapy, chronic infection and vaccination, Jalkanen says that “if successful they will last for twenty years from now, so it’s a long term business opportunity for anyone utilising these technologies.”