Montisera receives major governmental funding from Tekes for initiating the pilot production of the company’s spruce hot water extract molecule
(Montisera Ltd, Raisio; 14 September 2016 at 12:14) – Montisera, a Finnish development company focused on developing and commercialising bioactive compounds, have announced today that Tekes, the Finnish Funding Agency for Innovation has granted Montisera major governmental funding to support product development for the initiation of the company’s spruce hemicellulose pilot production. Montisera spruce extract has been found to have a positive effect in the treatment of lower urinary tract diseases. Early in February the spruce extract molecule was awarded first prize in the ¨Demographic changes” category in the ¨New Tree 2017¨ competition, and the second prize in the overall competition.
”Tekes support enables us to initiate a vital, optimal scale pilot production phase”, says Mira Povelainen, CEO of the company. ”The funding is significant for the company as well as for our network of cooperating companies. Product development will progress according to schedule with the help of the funding .”
”It is remarkable that the results of Finnish top level academic research will be carried over to an industrial pilot production phase with Finnish resources,” says Heikki Vuorikoski, founder and business development director of the company. ”On a global scale, as many as 60% of men aged 50-60, and more than 90% of men above the age of 80 suffer from lower urinary tract diseases. Today there is no effective treatment for these problems.”
For further information please contact:
Mira Povelainen, CEO, Montisera Ltd. tel. +358 578 9692
Founded in 2012, Montisera is a privately owned Finnish development company focused on discovering, developing and commercialising bioactive compounds from its development platform to be used in novel products in the pharmaceutical and food industries. Montisera’s focus is on the management of its global partner network of universities, science companies, laboratories, contract research organisations (CROs) etc. Montisera currently has three bioactive compounds in its development platform in different stages of the development pipeline, ranging from Parkinson’s disease to alcoholism and lower urinary tract diseases.