Aprea Therapeutics, a biopharmaceutical company engaged in the discovery and development of anticancer compounds that reactivate the tumor suppressor protein, p53, has closed a €50m Series C financing round.
The Series C financing round was led by the Redmile Group, with participation by new investor Rock Springs Capital and existing investors 5AM Ventures, Versant Ventures, HealthCap, Sectoral Asset Management and Karolinska Development.
A representative from Redmile Group will also be appointed as Director to the Aprea Therapeutics Board of Directors.
Aprea president and CEO Christian Schade said: “We are thrilled to close this financing, initiate a Phase III clinical study in myelodysplastic syndromes (MDS) with our lead compound, APR-246, and drive the company toward its next value inflection point.
“The addition of Redmile and Rock Springs to our investor group broadens the US investor base and we believe positions the company for future strategic opportunities. We are committed to bringing this important new therapy to cancer patients with limited therapeutic options.”
Proceeds from the financing will be used to advance the clinical development of APR-246, a first-in-class anticancer agent that reactivates mutated p53 tumor suppressor protein.
Aprea is planning to begin a Phase 3 clinical study in myelodysplastic syndromes (MDS) and is nearing completion of a Phase Ib/II clinical trial in p53 mutated high-risk myelodysplastic syndromes (MDS) and oligoblastic acute myeloid leukemia (AML) with APR-246 and azacitidine.
“The Phase II part of the study is ongoing, with updated data to be presented at the 2018 American Society of Hematology (ASH) annual meeting.
Source: Company Press Release