Karolinska Development’s portfolio company Aprea Therapeutics receives FDA IND approval and secures funding of USD 34 million
March 14 2024 - 6:48AM
UK Regulatory
Karolinska Development’s portfolio company Aprea Therapeutics
receives FDA IND approval and secures funding of USD 34 million
STOCKHOLM, SWEDEN, March 14, 2024. Karolinska Development AB
(Nasdaq Stockholm: KDEV) announces that its portfolio company Aprea
Therapeutics has received FDA approval of the company’s IND
application for the drug candidate APR-1051. Aprea has also secured
funding up to USD 34 million through a financing round led by
Sphera Healthcare. With the approval and financing in place, the
company will be able to start the first clinical study with
APR-1051.
The American Food and Drug Administration (FDA) has approved
Aprea Therapeutics Investigational New Drug (IND) application for
the drug candidate APR-1051. APR-1051 is a next-generation
inhibitor of Wee1 kinase and the company plans to initiate the
clinical phase I study ACESOT-1051. The aim is to evaluate
therapeutic activity of APR-1051 in patients, focusing on cancer
forms that overexpress Cyclin E, including ovarian and breast
cancers.
Aprea Therapeutics has recently conducted a private placement
financing of up to USD 34 million that will be used to finance the
clinical study. The financing was led by Sphera Healthcare with
participation from new and existing healthcare-focused
institutional investors including Nantahala Capital, DAFNA Capital
Management, Exome Asset Management and Stonepine Capital
Management, among others. The financing brings Aprea Therapeutics
USD 16 million in up front gross proceeds, with the potential to
receive up to an additional USD 18 million.
”The FDA approval and the financial support our portfolio
company now receives are clear statements of strength that drive
the development of our portfolio company´s innovative drug project
forward. We look forward to following the continued development and
progress of the company and the project,” says Viktor Drvota, CEO
Karolinska Development.
Via KDev Investments, Karolinska Development owns 2 percent of
the shares in Aprea Therapeutics (before the transaction).
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail:
viktor.drvota@karolinskadevelopment.com
Johan Dighed, General Counsel and Deputy CEO, Karolinska
Development AB
Phone: +46 70 207 48 26, e-mail:
johan.dighed@karolinskadevelopment.com
TO THE EDITORS
About Karolinska Development AB
Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life
sciences investment company. The company focuses on identifying
breakthrough medical innovations in the Nordic region that are
developed by entrepreneurs and leadership teams. The Company
invests in the creation and growth of companies that advance these
assets into commercial products that are designed to make a
difference to patients' lives while providing an attractive return
on investment to shareholders.
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 has a portfolio of eleven companies
targeting opportunities in innovative treatment for
life-threatening or serious debilitating diseases.
The Company is led by an entrepreneurial team of investment
professionals with a proven track record as company builders and
with access to a strong global network.
For more information, please visit
www.karolinskadevelopment.com.
- KD Aprea IND and Placing - ENG
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