Since PULS was founded in 2002, the company has started ten portfolio companies. Seven out of ten projects have been brought into clinical phase so far. Three companies have been divested, one of which has been listed. Only one out of ten has been terminated.
LIDDS AB is developing innovative pharmaceutical products based on medical needs and its patented drug delivery technology NanoZolid™. The purpose of the innovative development work is to reduce the side-effects significantly as well as to potentially increase the effect relative to other current treatment alternatives.
LIDDS aims to develop effective pharmaceuticals based on NanoZolid™ targeting several cancer diseases. This innovative drug delivery technology enables local administration for optimal efficacy and less side effects by a controlled release of the active substance for a shorter or longer time period. This may also reduce the total number of needed dosages. Liproca® Depot, for prostate cancer, was the first product being developed by this drug delivery technology. The patented drug delivery technology has also been used in combination with the lung cancer treatment Docetaxel that has showed positive results in preclinical phase.
In December 2015, LIDDS and Recipharm signed an exclusive production agreement.
LIDDS was listed on Nasdaq OMX First North (Stockholm, Sweden) in 2014. PULS has remained an owner and holds 6 percent of the shares.
Pulsetten (former DuoCort AB)
Plenadren®, developed by DuoCort Pharma, is a drug for the treatment of adrenal insufficiency in adults. It is the first innovation for these patients in over 50 years. Plenadren® is a dual-release hydrocortisone tablet that is designed to imitate the normal physiological secretion of cortisol, thus improving treatment for patients with adrenal insufficiency.
DuoCort was founded and run by PULS for seven years, from the project idea throughout the entire development process to a successful exit. DuoCort was acquired by the pharmaceutical company ViroPharma in 2011 (subsequently acquired by Shire).
The exit enabled distribution of a total of 205 MSEK to the previous owners, giving them a healthy return on their investment. Unfortunately, a legal process with the new owner over milestone payments ensued, which Pulsetten lost. Eventually the loss of the expected milestone payments and the costs associated with the legal process forced Pulsetten into bankruptcy as of August 22, 2016.
Ambria Technology AB
Ambria Dermatology has developed a patented technology platform, pentane-1.5-diol, for use in dermatological and hygiene areas. The technology makes it possible to develop new products with unique characteristics and also to improve dermatological and hygiene products already on the market. Thus, the technology can be used to extend the product life-cycle of existing products.
Ambria Technology AB was sold in 2009 to Natumin Pharma AB and may generate earnings up to three times the investment.
Pharmapnea AB was based on the use of donepezil in the treatment of obstructive sleep apnea (OSA). The project had shown good results and effects of treatment with cholinesterase inhibitors in two clinical trials. At Sahlgrenska University Hospital in Gothenburg, Sweden, an additional trial in 30 patients was conducted in order to clinically assess the dose-response of donepezil in OSA. Patients were randomized and treated with 0 mg, 2.5 mg and 10 mg donepezil tablets. After completion of the study, data revealed that the results were not sufficiently conclusive. The board therefore decided to cease activities and liquidate Pharmapnea AB. The remaining funds were repaid to investors and the intellectual property rights were transferred to the innovators.