Great interest in Dicot’s LIB-01
Many interested parties are keeping an eye on the development of LIB-01, Dicot’s drug candidate for the treatment of erectile dysfunction, and the interest only seem to increase. At least if you ask the company’s CEO, Elin Trampe, who BioStock talked to in connection with the Sexual Medicine Society of North America’s annual conference.
Dicot develops LIB-01 for the treatment of erectile dysfunction and premature ejaculation. The Uppsala-based company is working to address the need for more effective and safer treatment options in the field. Phase I studies are currently underway, in which repeated dosing has recently begun.
Attracts attention
This November, Dicot participated in the Sexual Medicine Society of North America’s conference, which the company describes as the largest sexual medicine meeting place in North America. During the conference, Professor François Giuliano presented the company’s preclinical results regarding LIB-01. Also participating were Dicot’s Chief Scientific Officer Charlotta Gauffin and Dr. Harin Padma-Nathan.
Among other things, the long-term effect was highlighted, where studies have shown that LIB-01 has an effect for at least seven days. This is markedly different from existing treatments, a fact that attracted attention and recognition from leading experts in the field. The response from the participants and other experts at the conference is described by the company as very positive. The attention led to invitations to participate and submit abstracts to several upcoming international conferences, including the prestigious European Society for Sexual Medicine and the World Meeting on Sexual Medicine.
Continued strong support from investors
However, it is not only in the research world that the company is attracting interest. During the year, Dicot has raised capital in several steps to secure the continued development of LIB-01. Most recently, the warrant of series TO5 was exercised. The utilisation rate was as high as 85.4 per cent, which can be seen as a strong result given the current tough climate on the market for raising capital. This means that the company will receive approximately 16.5 million SEK.
CEO comments
BioStock contacted Dicot’s CEO Elin Trampe for a comment on the interest that the company has attracted lately.
First of all, Elin, what interest arose around LIB-01 at the Sexual Medicine Society of North America’s conference?
– I think we got the great interest that our results actually deserve. SMSNA is a great forum for us to participate in. The US is a target market for us, so it is extra important to be there on site, give information about our drug candidate and build networks. I also see it as a market-preparatory part of our work.
What kind of questions do you get when you talk to the experts regarding your research?
– Many people are very interested and impressed by the long duration of action and want to know more details about it. Another strong point is that it is an oral treatment. It was clear that the interest increased further when they understood that LIB-01 is an oral treatment.
How do you feel that the interest in LIB-01 has developed over time?
– It’s increasing all the time. Of course, it is driven by good results that we have continuously been able to communicate, but we have also in the past year put in an extra gear when it comes to communication both with the industry and with the investor community. We have also established collaborations with world-leading medical expertise in the field, which confirms the potential of LIB-01, this of course leads to further attention.
You have also managed this year’s capital rounds in a good way in a challenging climate. What’s your take on that?
– We are incredibly grateful and happy for the support shown by both existing and new shareholders during the year. We will make sure that every penny is spent wisely in the best possible way. The high subscription rate and the money it has entailed have enabled us to work completely according to plan and maintain the desired pace in drug development.
How far in the development are you financed with the money you received through your TO5?
– The money from TO5 means that, in addition to the ongoing phase I study, we can also prepare for clinical phase II. We want to keep as high a pace as possible in the development, which means that we want to start a phase IIa study as close to phase I as possible and there are a lot of things that can be prepared, started now and run in parallel.
The content of BioStock’s news and analyses is independent but the work of BioStock is to a certain degree financed by life science companies. The above article concerns a company from which BioStock has received financing.
