Cosmo to float on the Swiss Exchange

Cosmo Pharmaceuticals, which specialises in treatments for gastrointestinal diseases plans to go public on the Swiss Stock Exchange.

The company’s pipeline includes treatments for inflammatory bowel diseases, including ulcerative colitis and Crohn’s disease, and colon infections. The most advanced product is Lialda/Mezevant (mesalamine) formulated with Cosmo’s MMX drug delivery technology, a once-daily oral treatment for mild-to-moderate ulcerative colitis.

The product is partnered by the to the UK pharmaceutical company, Shire plc. The MMX technology allows the oral delivery of active ingredients into the lumen of the colon in a delayed and controlled manner.

In addition, Cosmo has a further (unpartnered) product in phase III, and two unpartnered products in phase II development.

The company also provides drug formulation and manu¬facturing services from its facilities in Lainate, Milan.

Mauro Ajani, CEO of Cosmo, said, “[The IPO] will provide us with the required capital to finance the development of our pipeline, building on our proprietary and innovative MMX techno¬logy.

The money will allow the company to retain control of projects from pre¬clinical development through to commercialisation.