APIM Therapeutics Closes a Financing Round

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• Publié par: APIM-Therapeutics
• Nombre de lectures: 12
• Langue: English

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APIM Therapeutics Closes a Financing Round

PR Newswire TRONDHEIM, Norway, October 17, 2012

TRONDHEIM, Norway,October 17, 2012/PRNewswire/ --

- Financing will be used to further develop APIM Therapeutics lead anti-cancer compound towards late preclinical development.

APIM Therapeutics, a preclinical biotech company focusing on the development of novel peptide therapeutics targeting PCNA (Proliferating Cell Nuclear Antigen), a validated cancer target implicated in the regulation of cellular responses to various stress signals, announces the closure of a financing round enabling the company to further advance its lead compound, ATX-101, towards IND-enabling regulatory studies. To date, ATX-101 has show n promising activity in several preclinical solid tum or and blood cancer models and is capable of potentiating the action of >15 clinical drugs.

http://photos.prnewswire.com/prnh/20121017/567974 The investment is led by Norsk Innovasjonskapital III AS, a leading Norwegian VC firm in syndication w ith existing APIM investors, Sarsia Seed (Bergen, Norway), Birk Venture and Ro Invest (Oslo, Norway).

APIM Therapeutics was established in 2009 as a result of several years of scientific work at Prof.M. Otterlei's laboratory at the Norwegian University of Science and Technology (NTNU). This research has identified a novel therapeutic intervention point relevant for the treatment of a large variety of cancer cells including, among others, bladder cancer and multiple myeloma.

Konstantinos Alevizopoulos, CEO of APIM Therapeutics: "We are delighted to have secured this additional funding in APIM Therapeutics which will allow for further preclinical development of our novel therapeutic concept".

Jørgen André Nilsen, a Partner in Norsk Innovasjonskapital III: "We are pleased to support the advancement of APIM's novel anti-cancer treatment. We believe that the company offers a unique therapeutic approach that may provide novel therapeutic options to cancer patients.

http://www.apimtherapeutics.com

Additional Web Sites Norsk Innovasjonskapital III (http://www.televenture.no) Sarsia Seed (http://www.sarsiaseed.com) Birk Ventures (http://www.birkventure.no) NTNU (http://www.ntnu.no)

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