Since PULS was founded in 2002, the company has started eleven portfolio companies. Seven out of eleven projects have been brought into clinical phase so far. Four companies have been divested, two of which have been listed. Only one out of eleven has been terminated.

AcuCort

AcuCort has developed Dexa ODF, a thin film containing dexamethasone, a well-known and well documented glucocorticoid. The film is placed on the tongue and dissolves in 10-15 seconds without any need for water. Dexa ODF is the first glucocorticoid that is specifically developed for people at risk for acute allergic reactions and adapted for use in emergency and stressful situations by non-medically trained people. AcuCort is preparing for the applications for marketing authorization approvals in the EU (2018) and in the US (2019).

AcuCort’s vision is that Dexa ODF shall be commercialized globally, be well integrated and used in the treatment/risk management of acute allergic reactions and croup in children, and see wide use against chemotherapy-induced nausea and vomiting (CINV.)

AcuCort AB was founded in 2006 as a subsidiary of DuoCort AB.  2011 marked a new beginning for AcuCort and its development project, as P.U.L.S. AB acquired the company from DuoCort AB. On April 24, 2017, AcuCort AB was listed on AktieTorget.

AcuCort’s website (in Swedish only)

 

LIDDS

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.

LIDDS’s website

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.

Natumin website

Pharmapnea AB

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.