APIM Therapeutics Closes Financing

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

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