APIM THERAPEUTICS COMPLETES PRIVATE PLACEMENT AND ENTERS PHASE-2 CLINICAL DEVELOPMENT
Trondheim, 18 May 2021
APIM Therapeutics AS (“APIM Therapeutics” or the “Company”), an oncology focused biotechnology company developing innovative anti-cancer treatments targeting stress responses in tumor cells, is pleased to announce the completion of a private placement directed towards existing and certain new investors in the Company (the “Private Placement”).
“We are pleased to welcome 11 new investors to our existing strong shareholder base. The proceeds from this round put APIM Therapeutics in a strong position to advance the Company’s solid science to further clinical verification. We are confident about the potential of ATX-101 to address cancers with significant unmet therapeutic need” says Chair of the Board of APIM Therapeutics, Erlend Skagseth representing Lead Investor Sarsia Seed AS.
The Company is looking forward to embarking on the next steps of clinical development of its first-in-class, lead compound, ATX-101. With the proceeds from the Private Placement, the Company will initiate a proof-of-concept combination study in recurrent ovarian cancer and support a Phase-2 investigator-initiated study in sarcoma. “Moving into phase 2 of clinical development is an important milestone”, says the CEO, Kostas Alevizopoulos. “It offers the opportunity to demonstrate the benefit of a completely new approach for the treatment of cancer and to provide hope to patients with devastating diseases.”
The Phase-1b/2a study in recurrent ovarian cancer will investigate ATX-101 in combination with platinum-based therapy. The study, to be conducted in Australia, South Korea and Taiwan, will be initiated in Q2 2021 with the first patient treated in Q3 2021. Safety data and early efficacy data are expected in the second half of 2022.
The Phase-2 study in sarcoma will be initiated and conducted by a top Key Opinion Leader in a prominent health care institution and sarcoma research clinical center in the United States. The clinical study, which will be supported by the Company, is scheduled to start in Q3 2021. First efficacy data are expected in the second half of 2022.
ABG Sundal Collier acted as manager in relation to the Private Placement.
For further information, please contact:
Kostas Alevizopoulos, CEO
Tel: +47 73 49 4838
About APIM Therapeutics:
APIM Therapeutics AS is a privately held biotechnology company based on an original discovery by Prof. Marit Otterlei and co-inventors at the Norwegian University of Science and Technology (NTNU) in Trondheim, Norway. The Company targets a new therapeutic intervention point based on selective inhibition of Proliferating Cell Nuclear Antigen, a key organizer protein modulating stress responses in cancer cells of a broad variety of tumor entities. The first-in-class lead candidate ATX-101 is currently entering Phase 2 in clinical development. Please visit www.apimtherapeutics.com for additional information.