Akiram Therapeutics raises SEK 68 million for clinical development of a drug candidate for rare thyroid cancers
The Swedish radioimmunotherapy company Akiram Therapeutics, developing targeted cancer therapy, has raised SEK 68 million in a share issue led by Sciety and the network Sciety Venture Partners. The investment company Linc AB participated in the share issue with SEK 20 million. The proceeds from the financing will be used for GMP production of the drug candidate and for initiating a phase I clinical study.
Akiram Therapeutics has developed a new type of targeted radioimmunotherapy for anaplastic thyroid cancer. There is no effective treatment for this disease today, and patients survive only a few months after the diagnosis for which there is no effective treatment today. The drug candidate consists of Akiram's proprietary antibody, the result of many years of research, in combination with the radioactive compound, Lutetium 177.
Akiram has thus far run the project within academia with support from, among others, SciLifeLab, VINNOVA, and the Swedish Cancer Society. Robust preclinical data shows, among other things, that the drug candidate has a significant effect on human thyroid tumours in animals without signs of side effects or damage to the surrounding tissue.
"We would like to thank Sciety and all those who have participated in this successful issue for the great confidence in Akiram and our drug candidate. We now have the means to continue our work at full speed and take the next important steps on our exciting journey. We are very eager to continue the development of our drug candidate and to initiate phase I clinical studies," says Marika Nestor, CEO of Akiram.
"We are delighted to see the great interest and trust in our work and to have a group of investors helping us to deliver hope to patients suffering from incurable cancer."
Sciety, Sciety Venture Partners, and Linc invested SEK 68 million in the share issue.
"Targeted radiation therapy is a rapidly growing field expected to become the next breakthrough in cancer treatment. The reasons for our decision to invest are, among others, the founding team's long experience in the field, both from academia and industry, as well as their solid preclinical data. We now look forward to participating in Akiram's continued journey," says Andreas Lindblom, Managing Partner at Sciety.
"We are very impressed with Akiram's preclinical work, including the outstanding study results. In addition, we have high confidence in the management's ability to successfully run both the production development work and the clinical phase 1 trial. We look forward to being part of the company's future development," says Karl Tobieson, CEO of Linc.
For more information, please contact:
Marika Nestor, CEO
Email: marika.nestor@akiramtherapeutics.com
Phone: +46 702 34 18 81
About Akiram Therapeutics
Akiram Therapeutics is a Swedish biotech company focused on the development of targeted radioimmunotherapy for cancer, which is based on a proprietary antibody targeting the cancer marker CD44v6 combined with a radiation component. The therapy has generated strong preclinical results in cancer models in conditions that currently lack effective treatments. With the potential to be classified as an orphan drug and recognized as first-in-class, the company is dedicated to advancing research in this field, including indications in head and neck cancer, AML (Acute Myeloid Leukemia), lung cancer, and aggressive thyroid cancer. Headquartered in Uppsala, Sweden, Akiram Therapeutics is staffed with experts in radiation science research, cancer precision medicine, and drug development. To learn more, please visit Akiram’s website and follow Akiram on LinkedIn.
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