Actuate Therapeutics, Inc., a Fort Worth, TX-based clinical stage biopharmaceutical company, raised $21.7m in Series B financing.
The round was led by Kairos Ventures, with participation from DEFTA Partners, Tech Coast Angels, and existing investors Bios Partners.
The company intends to use the funds to expand its ongoing Phase 1 / 2 clinical trial and fund development programs.
Led by Daniel Schmitt, President & CEO, and Dr. Frank Giles, Chief Medical Officer, Actuate is a clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutic agents for patients with cancer or inflammatory diseases.
The company is quickly advancing the 1801 clinical trial of 9-ING-41 in adult cancer patients in the US. The financing allows Actuate to expand the 1801 clinical trial out to its oncology research institution network in the US and Europe, to initiate Investigator Initiated Trials being developed with its physician/scientist collaborators; and to advance its pediatric neuroblastoma program.
Earlier this year at Brown University/Rhode Island Hospital, the first patient was treated in the Actuate 1801: Phase 1/2 Study of 9-ING-41, a Glycogen Synthase Kinase-3 Beta (GSK-3β) Inhibitor, as a Single Agent and Combined with Chemotherapy, in Patients with Refractory Hematologic Malignancies or Solid Tumors (https://clinicaltrials.gov/ct2/show/study/NCT03678883).
The 1801 study is now actively recruiting patients at the following institutions:
– Brown University Rhode Island Hospital – Providence, RI
– UCSF Helen Diller Family Comprehensive Cancer Center – San Francisco, CA
– Miami Cancer Institute – Miami, FL
– Mayo Clinic – Rochester, MN
– Sanford Research – Sioux Falls, SD