amcure, a German biopharmaceutical company developing cancer therapeutics, received approval of a new approximately €1.75m grant by the German Ministry of Education and Research (BMBF).
The grant covers a portion of the investment needed to advance amcure’s lead candidate, AMC303, which is currently in clinical development. The company has received a total of €4.2m in non-dilutive funding from the Spinnovator grant program starting with a seed financing, followed by a Series A contribution in addition to today’s funding.
In December 2016, amcure closed a Series B financing round with a total of €6m from a consortium of existing investors and shareholders headed by LBBW Venture Capital, with participation from KfW, MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg, S-Kap Unternehmensbeteiligungs GmbH & Co. KG and Karlsruhe Institute of Technology (KIT) as well as private investors.
Established in 2012 as a spin-off from the Karlsruhe Institute of Technology and led by Klaus Dembowsky, CEO, amcure develops peptide-based compounds the treatment of highly metastatic forms of cancer. Its most advanced development candidate, AMC303, has entered clinical development and has demonstrated in in vivo animal proof-of-concept studies a high efficacy against different types of epithelial cancers, e.g. pancreatic cancer, head and neck cancer, gastric cancer, colorectal cancer, breast cancer and lung cancer.