Piqur Therapeutics AG, a Basel, Switzerland-based clinical-stage pharmaceutical company focused on the discovery and development of innovative anti-cancer drugs, closed an oversubscribed CHF18m (USD$19M) Series A2 financing.
Backers included existing investors Versant Ventures, as well as new private investors.
The company, which has raised over CHF55m (USD$60M), plans to use the funds to further strengthen its operational basis and to extend additional Phase 2 studies for its lead compound PQR309, clinical activity in phase 1, and preclinical safety and first clinical studies for one of its follow-up compounds.
Led by Vladimir Cmiljanovic, CEO, Piqur is a clinical-stage pharmaceutical company incorporated in August 2011 as a spin-off of the University of Basel, focusing on the discovery and development of innovative anti-cancer drugs based on lipid kinase (PI3K) and mTOR inhibition.
Both PI3K and mTOR are clinically validated drug targets in oncology.