Axelar secures funding for the coming Phase II program in lung cancer
STOCKHOLM, SWEDEN, May 11, 2011. Axelar AB, a Karolinska Development portfolio company, today announced that it has secured SEK 123m (EUR 13.7m) which will allow Axelar to complete its coming Phase II program in patients suffering from non-small cell lung cancer (NSCLC). Data from the ongoing Phase I/II trial will be presented later this year.The financing round was directed to a syndicate of investors including its current major owner Karolinska Development. Axelar recently reported promising interim data from the first part of the Phase I/II study. AXL1717 has shown excellent tolerability