Proskelia: The future of HRT
Proskelia SA, one of the latest pharma spinouts, is ahead of most startups, having inherited a clinical pipeline. The company believes it can succeed with its second-generation compounds in the bone disease market, especially after recent clinical studies have brought into question the efficacy of traditional hormone replacement therapies (HRTs).
The company's founder, Roland Baron, created the osteoporosis research unit at Aventis S.A. more than eight years ago. When AVE (Strasbourg, France) decided to cut the group, Baron proposed a spinout. Financial backing came from Warburg Pincus, which invested E60 million ($58.4 million). Proskelia management received about 15% of the company, while AVE and Warburg own 34% and 51%, respectively, according to CEO Philippe Ballero. ...