Aprea AB, a Stockholm, Sweden-based clinical-stage biotechnology company developing novel anticancer therapies targeting the tumor suppressor protein p53, completed a €46m (approximately USD$51m) Series B financing.
The round was co-led by Versant Ventures and 5AM Ventures, with participation from Sectoral Asset Management and HealthCap.
The company intends to use the funds to advance the clinical development of lead program APR-246, an anticancer compound reactivating the tumor suppressor protein p53.
Led by Bernd R. Seizinger, M.D., Ph.D., Executive Chairman, Aprea is completing the Phase Ib part of a Phase Ib/II clinical study in high-grade serous ovarian cancer with APR-246 and plans to initiate the randomized Phase II part of the trial shortly.
In addition, further exploratory trials in other cancer indications, including both solid and hematological tumors, are planned.
The company will also establish its strategic leadership team in the U.S.
Aprea’s other shareholders are KDev Investments AB, an investment vehicle owned by Karolinska Development AB (Nasdaq Stockholm: KDEV) and Rosetta Capital Ltd, Östersjöstiftelsen, Praktikerinvest and KCIF Co-Investment Fund KB.