New US investor joins Series C financing of Karolinska Development's portfolio company Aprea Therapeutics
STOCKHOLM, February 27, 2019. Karolinska Development's portfolio company Aprea Therapeutics announces today that funds managed by Janus Henderson Investors has joined its Series C financing as a new investor, raising the total amount of the financing from EUR 50 to EUR 55 million.
Janus Henderson Investors joins the financing round closed in November, 2018 and led by Redmile Group, with participation by Rock Springs Capital and existing investors: 5AM Ventures, Versant Ventures, HealthCap, Sectoral Asset Management and Karolinska Development AB.
"Aprea Therapeutics has a unique position as it has shown very convincing clinical evidence for its novel anticancer therapies targeting the p53 tumor suppressor protein. The addition of Janus to the investor group is an acknowledgment of the development plan for APR-246 and further strengthens Aprea's ability to advance its clinical strategy", comments Viktor Drvota, CEO of Karolinska Development.
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 has commenced a Phase 3 clinical study in myelodysplastic syndromes (MDS) and has completed enrollment in 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. Additional studies in MDS and AML are underway and in planning with other approved agents.
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@
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 established a portfolio of ten 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