amcure Receives Additional €1.75 Million BMBF Research Grant
Published: Aug 31, 2017
EGGENSTEIN-LEOPOLDSHAFEN,Germany--(BUSINESS WIRE)--amcure, a biopharmaceutical company developing first-in-class cancer therapeutics, today announced the approval of a new grant by the German Ministry of Education and Research (BMBF). The grant of approximately €1.75 million covers a portion of the investment needed to advance amcure’s lead candidate, AMC303, which is currently in clinical development. amcure has received a total of €4.2 million in non-dilutive funding from the Spinnovator grant program starting with a seed financing, followed by a Series A contribution in addition to today’s funding. In December 2016 amcure closed a Series B financing round with a total of €6 million from a consortium of existing investors and shareholders headed by LBBW Venture Capital, with participation from KfW, MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg, S-Kap Unternehmensbeteiligungs GmbH & Co. KG and Karlsruhe Institute of Technology (KIT) as well as private investors. All funds raised support amcure’s continued progress towards bringing a new, potentially groundbreaking treatment option to patients with advanced metastatic and solid tumors.
“With the Series B closed late last year and the continued support by the BMBF, amcure is well positioned to accelerate the clinical development of the CD44v6 inhibitor and to continue its focus on targeting tumor growth and metastasis.”
“This grant further validates the potential of amcure’s lead candidate, AMC303 as a promising cancer therapeutic agent and recognizes the progress we have achieved so far,” said Klaus Dembowsky, CEO of amcure. “With the Series B closed late last year and the continued support by the BMBF, amcure is well positioned to accelerate the clinical development of the CD44v6 inhibitor and to continue its focus on targeting tumor growth and metastasis.”
amcure’s lead candidate, AMC303, is currently in a Phase I/Ib clinical study to treat patients with advanced and metastatic epithelial tumors, e.g. pancreatic cancer, head and neck cancer, gastric cancer, colorectal cancer, breast cancer and lung cancer. AMC303 has previously demonstrated strong effects in various in vitro and in vivo assays by inhibiting CD44v6, a co-receptor required for signaling through multiple cellular pathways (c-Met, VEGFR-2, RON) involved in tumor growth, angiogenesis and the development and regression of metastases.
amcure GmbH is a spin-off from the Karlsruhe Institute of Technology established in 2012. The company develops peptide-based compounds for the treatment of highly metastatic forms of cancer. amcure’s most advanced development candidate, AMC303, has entered clinical development and has demonstrated in in vivo animal proof-of-concept studies a high efficacy against different types of epithelial cancers. amcure is supported by a grant from the German Federal Ministry of Education and Research.
Dr. Klaus Dembowsky
Phone: +49 (0) 7247 934249-4 or +49 (0) 171 7930077
Fax: +49 (0) 7247 934249-9
MacDougall Biomedical Communications
Gretchen Schweitzer or Mario Brkulj
Phone: +49 (0) 89 2423 3494 or +49 (0) 175 5010575