Cantargia, a Lund, Sweden-based biopharmaceutical company developing therapeutics for the treatment of leukemia, raised SEK7m.
Backers included Sunstone Capital, which invested €500k from its Early Engagement Program (EEP) and LUBio, which invested SEK3M. After the investment, Sunstone Capital and LUBio own 8% and 57%, respectively, while the remaining shares are owned by the founders, Innovagen and Microlund.
The company intends to use the capital to further characterize its lead monoclonal antibody and prepare for GMP production and pre-clinical safety studies.
Led by Anki Malmborg Hager, CEO, Cantargia leverages original discovery by Prof Thoas Fioretos and Dr Marcus Järås, that leukemic stem cells in patients with chronic myeloid leukemia (CML) express a cell-surface receptor, whereas corresponding normal stem cells do not express this receptor.
The company uses this receptor, the Interleukin-1 receptor accessory protein (IL1RAP), as the target for development of a novel antibody-based therapy for leukemia.