Category: Business News
There is a lot of activity in the health sector in Norway. One example is the recent startup Prophylix Pharma that is developing a medicine to combat a bleeding disorder in infants that is often fatal. The company’s concept was just bought by the American company, Rallybio, in Farmington, Conn. This was made possible by a recent funding round securing $37 million, with lead financing from 5AM Ventures, Cayman Partners, New Leaf Venture Partners, and Connecticut Innovation from the public sector.
Prophylix is a Norwegian biotech company headquartered in Tromsø and owner of its U.S. subsidiary Prophylix Pharma Inc. The startup is developing new prophylaxes that protect babies at risk from fetal and neonatal alloimmune thrombocytopenia (FNAIT). FNAIT is a condition caused by tissue incompatibility between a mother and her child and can lead to severe brain damage and death in fetuses and severe illness and often mortality in newborns. The planned treatment will be administered as a single dose injection to the mother immediately after delivery. The treatment has the potential to prevent development of FNAIT in subsequent pregnancies. According to a Prophylix press release, Rallybio obtained “two orphan drug programs, NAITgam and a follow-on therapy. NAITgam is a plasma-derived HPA-1a antibody in early clinical development for the treatment of FNAIT.”
Read entire article HERE.
Source: The Norwegian American