Karolinska Development’s portfolio company Aprea raises SEK 437 million
The new funds will be used by Aprea to advance the clinical development of its lead cancer program, APR-246, a first-in-class anti-cancer compound that targets and re-activates the tumor suppressor protein p53. The p53 tumor suppressor gene is the most frequently mutated gene in human cancer, and is present in approximately 50% of all human tumors. Mutant p53 is often associated with resistance to anti-cancer drugs and poor overall survival, representing a major unmet medical need in the treatment of cancer. APR-246 re-converts mutant p53 protein to its wild-type (normal) conformation and function, thereby re-activating its powerful anti-tumor activity.
“The completion of this SEK 437 million new financing round, the largest fundraising for a private Swedish life science company for over a decade, is a major milestone for Karolinska Development. We are extremely happy that we were able to close this deal with a syndicate of top tier international venture capital life science investors,” said Jim Van heusden, CEO of Karolinska Development. “The deal underscores the value of our more focused portfolio approach and provides Aprea with the necessary funding to reach its next major value inflection point.”
Aprea is investigating APR-246 in a Phase Ib/II clinical study in high-grade serous ovarian cancer: the Phase Ib part of the study is completing and the randomized Phase II part is expected to start in the near future. Additionally, the Company is planning to conduct exploratory trials in other cancer indications, including both solid and hematological tumors, and to establish a presence in the U.S.
“We are grateful for the strong support of this top-tier group of investors, who share our excitement about the potential of APR-246 in treating cancer,” said Bernd R. Seizinger, M.D., Ph.D., Executive Chairman of Aprea. “The funding enables us to further advance this promising product candidate not only in its lead indication – ovarian cancer – but to also explore its activity in a wide variety of other tumor types. Approximately 50% of human tumors carry deficient p53, which is often associated with resistance to anti-cancer drugs and poor survival. So, a compound like APR-246 that specifically works in tumors with mutant p53 has the potential to truly transform the way many types of cancer are treated.”
The SEK 437 million raised includes the participation of Karolinska Development via the conversion of a total of SEK 60 million of outstanding loans. Following this financing transaction Karolinska Development´s holding in Aprea directly and indirectly via KDev Investments and KCIF Co-Investment Fund KB will be 19%.
For further information, please contact:
Jim Van heusden, CEO, Karolinska Development AB
Phone: +46 72 858 32 09, e-mail: firstname.lastname@example.org
David Dible/Mark Swallow/Pip Batty, Citigate Dewe Rogerson
Phone: +44 20 7638 9571; e-mail: KDev@citigatedr.co.uk
TO THE EDITORS
Aprea AB is a Swedish biotech company focusing on the discovery and development of novel anticancer compounds re-activating the tumor suppressor protein p53. The Company’s lead program, APR-246, is a first-in-class small molecule drug candidate in clinical development. Aprea’s main shareholder is KDev Investments AB, an investment vehicle owned by Karolinska Development AB (Nasdaq Stockholm: KDEV) and Rosetta Capital Ltd. Other shareholders include Östersjöstiftelsen, Praktikerinvest and KCIF Co-Investment Fund KB. For more information, please visit www.aprea.com
About Karolinska Development AB
Karolinska Development AB is an investment company focused on identifying medical innovation and investing in the creation and growth of companies developing these assets into differentiated products that will make a difference to patients’ lives and provide an attractive return on investment.
Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.
Karolinska Development’s investee portfolio comprises 12 companies biotech and medtech targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.
The Company is led by a team of investment professionals with strong venture capital backgrounds, experienced company builders and entrepreneurs, with access to a strong global network.
For more information, please visit www.karolinskadevelopment.com
This constitutes information that Karolinska Development AB (publ) (Nasdaq Stockholm: KDEV) is legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act.
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
Partnership With FAST Technologies Expands Aptean's European Footprint17.1.2018 21:00 | Pressemelding
ALPHARETTA, Ga., Jan. 17, 2018 (GLOBE NEWSWIRE) -- Aptean, a leading global provider of mission-critical enterprise software solutions, has formed a strategic partnership with FAST Technologies in Northern Ireland. This partnership is an important part of Aptean's growth strategy in the European market, specifically the United Kingdom and the Republic of Ireland. FAST Technologies will sell and support one of Aptean's industry-leading process solutions, Factory Manufacturing Execution System (MES). Process manufacturers use Factory MES to gain real-time visibility into production, operations and quality compliance by adopting a true paperless solution. FAST, a leading provider of industrial automation solutions, is well-established with high-volume manufacturers of retail packaged goods and pharmaceutical products. "We are excited to announce this partnership with Aptean. For many years, we have struggled with an appropriate solution that gives our customers an out-of-the-box experienc
Egyptian Steel recognised in the World Finance 100 guide for 201717.1.2018 15:29 | Pressemelding
LONDON, Jan. 16, 2018 (GLOBE NEWSWIRE) -- Egyptian Steel currently stands as one of the most powerful companies in Egypt. Its prosperity is largely down to the work of founder and CEO, Ahmed Abou Hashima, whose optimistic and bold approach has seen the company go from strength to strength - even in tough conditions. In spite of Egypt's 2011 revolution, which pushed the country through much turmoil, Egyptian Steel was able to take off, having been founded just the year before. Abou Hashima believes that investors shouldn't be put off in times of political uncertainty and economic upheaval. If they are brave, the rewards can be great. And if his organisation's performance is anything to go by, it seems these are wise words; Egyptian Steel's four steel plants now produce 2.3 million tonnes of steel annually. For its outstanding work, Egyptian Steel has been recognised by World Finance in the magazine's World Finance 100 guide, which identifies the world's strongest organisations. Here, co
Investing in Berlin's thriving real estate market17.1.2018 15:05 | Pressemelding
LONDON , Jan. 17, 2018 (GLOBE NEWSWIRE) -- Germany's capital Berlin may be well known as a vibrant tourist destination - the city welcomed 12.7 million visitors last year - but it also offers fantastic investment opportunities. Currently, the real estate market is flourishing, but it is also constantly changing. As such, investors will find that a little market knowledge goes a long way. In 2018, the trend towards renting out furnished apartments looks set to continue, with renovated properties achieving a high sell-on value. Locations will also remain a key factor in determining property prices. In Berlin, real estate buyers will find that high-demand areas like Mitte, Prenzlauer Berg and Friedrichshain offer solid opportunities for return on investment (ROI). Alongside Berlin, other cities in former-East Germany are proving increasingly enticing to real estate developers. Leipzig, for example, has a thriving student population and good job prospects as a result of investment from Por
Innovative Humanized Research Strategies for Immuno-Oncology Drug Development, Crown Bioscience Hosts a Live Webinar17.1.2018 14:12 | Pressemelding
SAN DIEGO, Jan. 17, 2018 (GLOBE NEWSWIRE) -- Crown Bioscience, a wholly-owned subsidiary of Crown Bioscience International (TWSE:6554) and a global drug discovery and development services company providing translational platforms to advance oncology, inflammation, cardiovascular and metabolic disease research, will host a webinar on Thursday, January 18, 2018 at 10 am EST (3pm BST/UK), presented by renowned immunologist, Dr. Jayant Thatte. Dr. Thatte will review currently available humanized models and describe innovative applications for preclinical immuno-oncology research. The evaluation of immunotherapeutics is hindered by a lack of preclinical oncology models that exhibit functional human immunity. To overcome this obstacle, Crown Bioscience uses cutting-edge humanization protocols to develop innovative research solutions with reconstituted, functional human immune components. These humanized models can be combined with human cancer cell lines or patient-derived xenograft (PDX) mo
Colliers Launches Real Estate Technology Accelerator With Techstars17.1.2018 13:30 | Pressemelding
Partnership with Global Technology Investor and Accelerator Leader Highlights Commitment to Real Estate Industry Innovation TORONTO, Jan. 17, 2018 (GLOBE NEWSWIRE) -- Colliers International Group Inc. (NASDAQ:CIGI) and (TSX:CIGI), a global leader in commercial real estate services, today announced the launch of the Colliers Proptech Accelerator powered by Techstars. "Disruptive changes in technology, evolving demographics, fierce global competition and increased connectivity are factors impacting all industries," said Dylan Taylor, Colliers President & COO. "And the commercial real estate industry is no exception. Colliers sees this as an opportunity and is committed to being the most enterprising company in our industry by developing innovative and value enhancing services for our clients and professionals. Partnering with Techstars allows us to harness the best and brightest in operating technology accelerators and selectively evaluate and invest in new technologies. The new Colliers
BnkToTheFuture Raises Initial $30 Million for Tokenized Securities Market and Due Diligence Platform17.1.2018 13:15 | Pressemelding
Largest Online Investment Platform for Fintech, Bitcoin, and Blockchain Ventures to Distribute BnkToTheFuture Token (BFT) for Equity-Backed Token Deals to Accredited Investors GEORGE TOWN, Cayman Islands, Jan. 17, 2018 (GLOBE NEWSWIRE) -- Financial technology investment platform BnkToTheFuture (www.bnktothefuture.com) has raised an initial $30 million for its tokenized equity market and due diligence platform within the first 24 hours of of its token pre-sale open solely to institutional investors and members of its platform. BnkToTheFuture offers the largest online investment platform for investing in the equity of FinTech, Bitcoin, and Blockchain companies as well as Initial Coin Offerings (ICOs) that have passed a stringent due-diligence and compliance process. Already popular as an online investment platform with almost 50,000 professional and accredited investors with over $260 million invested in the funding rounds of FinTech, Bitcoin, and blockchain deals listed on its platform
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom