OTC Markets Group (OTCM): Tell us about Neurovive Pharmaceutical. What do you want U.S. investors to know?
Erik Kinnman: NeuroVive is a Swedish specialist pharmaceutical company with research and development focused primarily on mitochondrial medicine and diseases in which the mitochondria are involved. Properly functioning mitochondria are essential to our bodies’ energy production, and cell protection and survival. Mitochondrial diseases are often genetic and chronic disorders that can cause symptoms such as muscle weakness, visual impairment, poor growth and delayed development. Mitochondrial diseases affect 1 in 5000 people, but treatments are scarce and are often classified as orphan drugs. The secondary progress of nerve cell damage in Traumatic brain injury (TBI) is related to the function of mitochondria. There are some 3 million TBI patients each year in the US and Europe, out of which 15% are moderate to severe.
We are currently working on a range of projects. A TBI phase II PoC clinical study in the NeuroSTAT project is underway, and KL1333 for genetic mitochondrial disease is in phase I clinical development. These are both orphan indications in areas of high unmet medical need. The furthest advanced preclinical program, NV556 for NASH, has shown convincing effects in fibrosis and an outlicensing process has been initiated.
OTCM: What were your major accomplishments in the past year?
Mr. Kinnman: We have reached several important milestones thus far this year. We have received positive results in our TBI-project NeuroStat, in the experimental TBI-studies at the University of Pennsylvania and the phase IIa Copenhagen Head Injury Ciclosporin Study (CHIC). We acquired the rights to the clinical stage candidate drug KL1333 for genetic mitochondrial disorders. In preclinical studies KL1333 has demonstrated increased mitochondrial energy output, reduced lactate accumulation, diminished the formation of free radicals, and to have long-term beneficial effects on energy metabolism through mitochondrial biogenesis. Our NASH project NV556 and our HCC project NVP024 have both returned positive preclinical results.
We have also welcomed Esousa, a US-based family office specialized in emerging growth companies, as a new investor in NeuroVive. On the personnel side, we have added Mark Farmery as our new VP of Business Development, and Daniel Schale as our new Director of Communications.
OTCM: How does Neurovive differentiate itself from its competitors and what is your growth strategy?
Mr. Kinnman: NeuroVive has recently updated its business model to adapt to developments in the pharmaceutical and life science industries. Our business model now has a two-pronged strategy – in our core business we aim to take projects concerning rare diseases to the market, and for common diseases our goal is to bring projects to the preclinical stage for out-licensing. This allows for a more diversified project portfolio, with the possibility of both near-term revenues as well as near and long-term substantial value creation.
OTCM: Neurovive joined OTCQX in June 2016. How are leveraging OTCQX as part of your U.S. IR program?
Mr. Kinnman: As we increase our presence in the US capital markets, trading on OTCQX will help us in our IR efforts, aimed at attracting both US retail and small to mid-size institutional investors. With our significant collaborations with US-based research institutions, such as University of Pennsylvania and the Children’s Hospital of Philadelphia, it is only natural that we offer US based investors the opportunity to invest in our company.
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