CEO's comments

CEO’s comments

During first quarter of 2020 I am happy to announce we started a study with Pelvipharm in France where we will study the effect on erection in an animal model. This is one of several steps to gain knowledge about our product candidate Libiguin®, its effect and future use. We are expecting results during summer this year and this will help us better understand how we will use Libiguin® in future studies and identify the mechanism of action. Pelvipharm specializes in studies relevant to sexual dysfunction and has worked with all major pharmaceutical companies that currently are market-leading in treatment of erectile dysfunction. 

An important part of our work is to produce substances for future studies from raw materials that we harvest in African nature. During the first months of 2020 we extracted 800 kg of raw material together with Ardena in Sweden. The extract will be shipped to India for final synthesis to drug substance. The ongoing Corona pandemic has led to a shipping delay due to a shut down of our partner Anthem Bioscience in India. We have recently received information that Anthem are about to start up their business within the next few weeks. Our assessment is that the delay in the pharmaceutical project will not be more than 6 months. 

In parallel with production activities, work is underway to secure raw material supply through other sources than our current ones in Africa. Our contact in Laos  have identified new potential sources of raw material in Asia. Analyzes and evaluation are ongoing but have also been affected due to the current situation with transportation. 

A retrospective study was started in collaboration with local researchers and doctors in Madagascar at the end of the quarter. A larger group of men will be interviewed to gain greater knowledge about which plants are used to treat sexual dysfunctions such as erection problems. Our drug candidate Libiguin® was discovered from studies of biologically active components in the root of Neobeguea mahafalenis growing in Madagascar. Results from the study will be reported during second quarter. 

I am pleased with the progress during the first quarter, although some activities have been slightly delayed by the ongoing pandemic. I believe we will continue our activities in the development project without major deviations to achieve clinical studies. We have a great team and an ambition to develop Libiguin® to be the next generation of treatment of sexual dysfunctions in men. Thanks to employees, partners and our investors who continue to support us on our journey to something great. 

Uppsala, May, 2020
Göran Beijer, CEO

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