Aprea Therapeutics, a Boston, Massachusetts- and Stockholm, Sweden-based clinical-stage biotechnology company developing novel anticancer therapies targeting the p53 tumor suppressor protein, closed a €50m Series C financing.
The round was led by the Redmile Group, with participation from new investor Rock Springs Capital and existing investors 5AM Ventures, Versant Ventures, HealthCap, Sectoral Asset Management and Karolinska Development AB (Nasdaq Stockholm: KDEV). A representative from Redmile Group will also be appointed as Director to the Aprea Therapeutics Board of Directors.
Proceeds from the financing will be used to advance the clinical development of APR-246, a first-in-class anticancer agent that reactivates mutated p53 tumor suppressor protein. Aprea is planning to begin a Phase 3 clinical study in myelodysplastic syndromes (MDS) and is nearing completion of a Phase Ib/II clinical trial in p53 mutated high-risk myelodysplastic syndromes (MDS) and oligoblastic acute myeloid leukemia (AML) with APR-246 and azacitidine. The Phase II part of the study is ongoing.
Led by Christian S. Schade, President and Chief Executive Officer, Aprea is a biopharmaceutical company focused on the discovery and development of novel anticancer compounds that reactivate the tumor suppressor protein, p53. The Company’s lead drug candidate is APR-246, a first-in-class small molecule in clinical development for myelodysplastic syndromes (MDS) and high-grade serious ovarian cancer, and trials in additional hematologic malignancies are planned.
Aprea is also developing second generation p53 reactivators that have best-in-class potential.