Legacy Healthcare raises CHF 2 million

24.11.2017 12:14

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botamical drug

Legacy Healthcare, a Lausanne based biopharma developing innovative botanical drugs in supportive oncology care and dermatology, has raised CHF2m as part of series B financing round. The funds will be used to take Phase II and Phase III drug candidates to the market. The company has two patented cosmetic products against hair loss already on the market, marketed by Abbott, Galderma and Biolab.

Legacy Healthcare is a Swiss R&D Biopharma company focusing on the development of innovative botanical drugs in Immuno-Dermatology, Dermatology and Oncology supportive care. With offices in Lausanne, Tokyo and Boston, the company built a lean platform which has already managed to build up a pipeline of 3 drug candidates in 6 different indications. Two science backed cosmetic products are already on the market, generating revenue. The patented «anti-hair loss cosmetic product CG 210» was launched initially by Sanofi in Europe, in South East Asia by Abbott, in India, Russia by Galderma and in Brazil by Biolab (n°1 ranking dermatology company). The second product, the «Advanced hair loss product CG428», launched by Abbott addresses subjects presenting chemotherapy alopecia. These two product, which the company consider as the “proof of concept” of its model and technology, have been selling two million units, with excellent safety profile.

In July 2017, MaxHealth Medicine Group Ltd., a Chinese commercial healthcare company, signed an agreement with Legacy Healthcare. Under the terms of the agreement, MaxHealth agreed to set up a Joint-Venture to commercialize Legacy’s Healthcare anti hair-loss cosmetic products in Mainland China. In addition, MaxHealth is investing CHF 2M as part of series B financing round. The company is willing to raise another CHF 15m.

Two drug candidates are in clinical trials: a topical treatment for Pediatric Alopecia Areata, an autoimmune form of hair loss occurring in children and adolescents is in Phase III; a topical treatment for Chemotherapy Induced hair loss and Permanent Chemotherapy Induced hair loss is in Phase II. The company has also an oral candidate for Cancer Related Fatigue which just has completed successfully pre-clinical trials, performed by the NIH.

“Many people are today surviving from cancer, and ending up with a substantially reduced quality of life following the affliction. At Legacy Healthcare, we take botanical ingredients that people consume on a regular basis and turn them into efficient drugs. Our drugs have fewer, and considerably less severe side effects, if any, than synthetic drugs. Most of our current emphasis is on alleviating side effects of cancer treatments, also called oncology supportive care”, said Saad Harti, CEO of Legacy Health in an interview with Pharmaboardroom.

The regulatory and compliance botanical drug framework was set up by FDA and EMA in 2004. FDA’s Center for Drug Evaluation has issued a Botanical Drug Development Guidance for Industry to take into consideration the special features of this kind of drugs and to facilitate development of new therapies from botanical sources.

(RAN / SK)

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