amcure, an Eggenstein-Leopoldshafen, Germany-based biopharmaceutical company developing cancer therapeutics, closed a €6m Series B financing round.
The round was led by LBBW Venture Capital, with participation from the KfW, MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg, S-Kap Unternehmensbeteiligungs GmbH & Co. KG and Karlsruhe Institute of Technology (KIT) as well as private investors.
The company intends to use the funds to continue and accelerate the clinical development of its lead product candidate, AMC303, for treating metastasizing solid tumors. AMC303 has been developed to target CD44v6, a key extracellular molecule in molecular pathways of several receptor-tyrosine-kinases and provide a potential novel mechanism for the treatment of patients with advanced and solid tumors that have already begun to spread throughout the body.
Established in 2012 as a spin-off from the Karlsruhe Institute of Technology and led by Dr. Klaus Dembowsky, CEO, amcure develops peptide-based compounds for the treatment of metastatic forms of cancer.
Its most advanced development candidate, AMC303, has been developed as a potential treatment for patients with advanced and metastatic epithelial tumors, e.g. pancreatic cancer, head and neck cancer, gastric cancer, colorectal cancer, breast cancer and lung cancer. It has entered clinical development and has demonstrated in in vivo proof-of-concept studies a efficacy against different types of epithelial cancers.