APIM Therapeutics, a Trondheim, Norway-based preclinical biotech company focusing on the development of novel peptide therapeutics targeting PCNA (Proliferating Cell Nuclear Antigen), has closed a financing round of undisclosed amount.
The investment was led by Norsk Innovasjonskapital III AS, with participation from existing investors Sarsia Seed, Birk Venture and Ro Invest.
Established in 2009 as a result of several years of scientific work at Prof. M. Otterlei’s laboratory at the Norwegian University of Science and Technology (NTNU), and led by Konstantinos Alevizopoulos, CEO, APIM Therapeutics has identified a novel therapeutic intervention point relevant for the treatment of a large variety of cancer cells including, among others, bladder cancer and multiple myeloma.
The company intends to use the proceeds from the financing to further develop its lead anti-cancer compound, ATX-101, towards late preclinical development. To date, ATX-101 has shown promising activity in several preclinical solid tumor and blood cancer models and is capable of potentiating the action of >15 clinical drugs.
FinSMEs
17/10/2012