Beactica, an Uppsala, Sweden-based drug discovery company, completed its latest financing round of undisclosed amount.
Over one third of the investors were new, raising the majority of the funds. The remainder was provided by several existing shareholders, including ALMI Invest and UNIONEN.
The company intends to use the funds to advance its internal pipeline of discovery-stage oncology programs over the coming 12 months.
Led by Per Källblad, CEO, Beactica is a specialist drug discovery company using its proprietary methodologies to evaluate the interaction of molecules in order to generate novel therapeutics. As well as progressing its own drug discovery programmes, Beactica offers partnerships for fragment-based lead generation using its proprietary discovery platform and services in the area of SPR biosensor-based interaction analysis.
Founded in 2006 based on research carried out at Uppsala University, the company is now advancing a program (LSD1) through an in vivo proof-of-concept study in glioblastoma, and with studies in other indications to follow.