Date: 2013-05-21
Type of information: Fundraising
Company: Oncopeptides (Sweden)
Investors: HealthCap (Sweden - Switzerland)
Amount:
Funding type: series A financing round
Planned used: The investment will finance a phase II clinical program in multiple myeloma with the novel cytosuperior compound melflufen (previously known as J1 in peer reviewed journals), an enhanced cytotoxic alkylating agent based on melphalan. The phase II trial is an efficacy signal seeking study in 35-50 patients with primary endpoints focused around efficacy parameters. Patient recruitment commences Q2 of 2013 across four centers in Europe (the Netherlands, Italy, Denmark and Sweden) and two in the USA, with Dana-Farber Cancer Institute being the lead investigator site. The target population will be relapsing and relapsing/refractory multiple myeloma patients. Study read-out is expected late 2014.
Others: * On May 21, 2013, Oncopeptides AB, a company working to enhance oncology therapies, has announced the conclusion of a series A financing round intended to fund the phase II program. HealthCap led the investment with support from the long-term investor Industrifonden; members of Oncopeptides\' management and Board also participated in the round. In association with the investment, Per Samuelsson and Johan Christenson from HealthCap, have joined Oncopeptides\' Board of Directors.
Oncopeptides is a clinical stage pharmaceutical development company working to enhance oncology therapies,
by creating cytosuperiors of existing basic cytotoxic compounds. The company is targeting multiple myeloma as a first indication with its lead compound, melflufen. A family of enzymes that is overexpressed at very high levels in cancer cells, such as multiple myeloma cells, cleaves melflufen so its active metabolite is entrapped at high concentrations within the diseased cells.
Therapeutic area: Cancer - Oncology
