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Swedish Parkinson's drug developer Lobsor Pharmaceuticals considers IPO

Swedish startup Lobsor Pharmaceuticals AB, which has developed a product to compete against AbbVie Inc.'s Parkinson's medicine Duodopa, is considering going public, Bloomberg News reported.

In an interview, the drugmaker's chairman, Ulf Rosen, told Bloomberg that the drugmaker is considering a variety of options, including an IPO on Stockholm's First North Premium marketplace. It may also raise cash through private equity or tap into existing funds and expected revenue from the sales of Lecigon to expand its business.

Lecigon was recently approved by the Swedish Medical Products Agency to treat the symptoms of Parkison's — which has no cure — and the company is seeking funds to accelerate the process of commercialization, starting with the Nordic region. With further plans to expand throughout Europe and the U.S., Rosen told Bloomberg that the company would like to "better understand initial traction in the market" before deciding on a course of action.

The product will compete against Abbvie's Duodopa, which dominates the market for intestinal infusion and raked in about $355 million in revenues during 2017, an increase of 21.1% year over year. The medicine, administered via a pump, is approved in U.S., Europe and Japan, and generated $211 million in sales during the first half of 2018, up 31%, compare to first half of 2017.